In the real estate market in Dubai, post-handover payment plans (PHPPs) are common. They allow buyers to pay off their property purchases over time without taking out large loans or using up all of their savings in one go. PHPPs offer advantages such as flexibility, affordability, and peace of mind for buyers – making them an attractive option for many.
The most popular PHPPs in Dubai are spread out over 3-5 years, with the remaining apartment cost divided into installments paid after handover. However, while some developers offer up to 12 years’ worth of payments, it is important to remember that they often come with higher interest rates as well.
Understanding Post-Handover Payment Plans
Before we dive into the projects, it’s essential to understand what a post-handover payment plan in Dubai is. When purchasing a property in Dubai, the payment terms are typically split into installments. Buyers usually complete payments upon the property’s completion or handover. However, with a post-handover payment plan, buyers can pay a predefined amount after the property is delivered. Depending on the developer and the project type, these plans can range from three to ten years.
The amount of money that needs to be paid is also predetermined during the purchase. With some PHPPs, a set deposit must be made at the time of purchase, and additional installments are due after handover on specific dates. As such, it’s crucial for buyers to understand what is expected from them when they enter into these payment plans.
Advantages of Post-Handover Payment Plans in Dubai
Post-handover payment plans offer several advantages to buyers-
- Flexibility: PHPPs can be tailored to your needs, so you can choose a plan that suits your budget and lifestyle.
- Affordability: With a PHPP, buyers don’t have to take out large loans or use up all of their savings at once. They can pay off the cost of their property over time.
- Peace of mind: PHPPs are a great way to purchase property in Dubai without worrying about the financial burden.
Top 6 Projects in Dubai with Post-Handover Payment Plans
1. South Bay by Dubai South
- Location: Dubai South
- Property Types: Townhouses, semi-detached, and Villa Mansions
- Price Range: Starting from 2.1 million Dirhams for three-bedroom townhouses to 15 million Dirhams for seven-bedroom mansions.
- Payment Plan: 70% during construction with a 5% down payment. The remaining 30% is spread over two years post-handover.
Advantages of Purchasing Property in South Bay:
- A luxurious, resort-style community with amenities such as swimming pools, kids’ playgrounds, and a clubhouse.
- Easy access to Dubai South’s new Airport District, which is home to Al Maktoum International Airport (DWC) and Expo 2020 Dubai.
- Close proximity to the Dubai World Trade Centre (DWTC), the Golf & Country Club, and the Global Village.
2. Mangrove Residences by Expo City
- Location: Expo City
- Property Types: One to four-bedroom apartments
- Price Range: Starting from 1.5 million Dirhams for one-bedroom apartments to 6.9 million Dirhams for four-bedroom apartments.
- Payment Plan: 50% during construction with a 20% down payment. The remaining 50% is spread over five years post-handover.
Advantages of Purchasing Property in Mangrove Residences:
- Located in the heart of Expo City, a vibrant destination that promises world-class entertainment and leisure activities.
- Unmatched convenience – just minutes away from the Expo 2020 Dubai site and its many attractions.
- Easy access to Sheikh Zayed Road, making it easy to get around Dubai.
3. North 43 by Naseeb Group
- Location: JVC District 15
- Property Types: Studios to three-bedroom apartments
- Price Range: Starting from 525,000 Dirhams for studios to 1.7 million Dirhams for three-bedroom apartments.
- Payment Plan: 70% during construction with a 10% down payment. The remaining 30% is spread over two years post-handover.
Advantages of Purchasing Property in North 43 by Naseeb Group:
- Modern, contemporary design with luxury finishes.
- All apartments have private balconies or patios, and some even have a garden.
- Direct access to a community park and abundant greenery around the development.
4. Waves 2 by Samana Developers
- Location: JVC District 13
- Property Types: Studios to three-bedroom apartments with private swimming pools
- Price Range: Starting from 800,000 Dirhams for studios to 2.8 million Dirhams for two-bedroom duplexes.
- Payment Plan: 70% during construction with a 20% down payment. The remaining 30% is spread over two years post-handover.
Advantages of Purchasing Property in Waves 2 by Samana Developers:
- Luxurious living with several state-of-the-art amenities such as a pool, spa, fitness center, and community park.
- Private pools for select two & three bedroom apartments
- Sleek modern architecture by the renowned Perkins + Will center
5. Vincitore Volare
- Location: Arjan
- Property Types: Studios to two-bedroom apartments
- Price Range: Starting from 630,000 Dirhams for studios to 1.75 million Dirhams for two-bedroom apartments.
- Payment Plan: 76% during construction with a 20% down payment. The remaining 24% is spread over two years post-handover.
Advantages of Purchasing Property in Vincitore Volare:
- Situated in the heart of Arjan, a vibrant community that offers all the amenities and attractions one could wish for.
- Easy access to major roads such as Sheikh Mohammed Bin Zayed Road, Al Khail Road, and Umm Suqeim Road.
- A range of luxurious amenities includes swimming pools, gyms, and a shopping mall.
6. Bayswater by Danube Properties
- Location: Dubai Marina
- Property Types: One-bedroom, two-bedroom, and three-bedroom apartments
- Price Range: Starting from 1.5 million Dirhams for one bedroom to 4.7 million Dirhams for three-bedroom apartments.
- Payment Plan: 70% during construction with a 10% down payment. The remaining 30% is spread over two years post-handover.
Advantages of Purchasing Property in Bayswater by Danube Properties:
- Spacious apartments with large balconies and incredible marina views.
- Easy access to Dubai Marina Mall,- Metro Station and other attractions nearby.
- A range of amenities such as a swimming pool, gym, and sauna.
You can also read: How Post Handover Payment Plans Work: Dubai Real Estate Insights
Conclusion:
Post-handover payment plans can be a great way to purchase property in Dubai, as they offer flexibility, affordability, and peace of mind. We have listed some of the top projects with post-handover payment plans in Dubai so you can easily find a plan that suits your needs. Remember to do your research before committing to any property purchase so you can make an informed decision in the property market. Remember the key factors such as location, type, price, and payment plan before making a final choice.
At eMortgage – Best Mortgage brokers in Dubai, we can help you in your property search and guide you through the entire process. Get in touch with us today to find out more about post-handover plans in Dubai Properties.