Dubai: Buying Ready-To-Move-In Properties Is Not So Common, But Gaining Currency

(MENAFN– Khaleej Times) Buying ready-to-move-in properties directly from the developer is not a common trend right now due to the high premium buyers have to pay as well as low return on capital when compared to off-plan properties.

Therefore, off-plan properties are still the preferred choices of residents and buyers due to better returns as well as smaller mortgage payments for the upcoming properties.

However, the ice is breaking with developers slowly and steadily entering into the ready-to-move-in property market to cash in on demand from residents and investors who like to park their money in ready properties or looking to move into such units to avoid paying rentals.

Importantly, the trust factor has improved immensely in the local property market with the introduction of measures related to regulations and residencies taken by the government over the past decade, therefore, demand for new ready properties market will also grow in the coming years.

Dubai’s leading private developer Danube Properties recently launched its first ready-to-move-in project Eleganz with its popular one per cent one per cent payment plan. Similarly, Dubai’s largest private developer Damac Properties also aggressively promotes ready-to-move units.

Rizwan Sajan, chairman of Danube Properties

“Eleganz by Danube is the first ready-to-move-in property introduced in the market. We launched because when we were selling off-plan properties, a lot of people inquired about ready units. All of our off-plan projects were immediately sold out, so we had nothing to offer to our customers any ready-to-move-in properties. Therefore, we introduced this and buyers can move in with a payment of just 40 per cent and the balance is one per cent per moment,” said Rizwan Sajan, chairman of Danube Properties.

Sajan said they will definitely launch more ready-to-move-in units in the wake of the strong response of Eleganz.

Alina Adamco, head

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