1% Payment Plans: How Can Non-Resident Foreign Investors Buy a Property in Dubai
Every year, Dubai attracts millions of visitors to explore its wonders.
From the subtle essence of history to the futuristic infrastructure and a rapidly advancing economy, Dubai holds exceptional experiences for every individual willing to live their life to the fullest.
While the luxury and lavish lifestyle of Dubai attracts millions to the city for tourist timelines, many individuals end up finding their heart, soul, and home in Dubai.
Dubai property investments for foreigners have gained substantial traction, becoming an ideal solution for tourists to buy a property in Dubai, come back, and settle in.
More to Wealth, Luxury, and Business
Dubai is conceptualized with wealth, luxury, and business.
However, there’s more to Dubai’s lavish lifestyle. The city is a magnet for skilled talent and extraordinary entrepreneurs, who massively contribute to the rental value of Dubai’s real estate market.
Dubai offers unmatched support for any skilled professional who’s well-determined to implement revolutionary business ideas, innovate, and add to the city’s growth.
Moreover, the UAE rewards the entrepreneurial spirit by welcoming anyone and everyone with its ease of business and supportive legislation.
The government’s support, its high-end infrastructure, and tax-free earnings are the perfect conditions businesses aspire to. And with the city’s growing population, the city offers a plethora of opportunities for people to earn and live more, including property owners.
While most foreign investors want to buy apartments or flats in Dubai, the dream of relocating and building their ideal life in Dubai gets muffled with financial uncertainties, residence permits, and the unavailability of permanent residency in the Emirates.
Understanding the root causes and major deterrents of property investments in Dubai helps foreigners tackle these challenges with readily available solutions.
Down Payments and Mortgages
Often, Dubai property investments for foreigners are expected to be quite expensive.
With unmatched luxury, world-class amenities, and community living, non-residents often believe it to be challenging to buy a property in Dubai without spending a fortune, which is far from reality.
If they manage to find suitable flats or apartments in Dubai within their budget and lifestyle, developers often demand 50 to 60% down payments, posing a big challenge for many and forcing them to unwillingly explore mortgages.
Again, mortgages are subject to approval, especially for non-residents. They follow stricter eligibility criteria and require additional documentation to prove an external stable source of income.
The borrowed amounts might also attract higher interest rates for non-residents. And the Loan-to-Value (LTV) also steps lower, meaning non-residents may encounter limited financing options, ranging from 60 to 70% of their asset value.
In addition, their credit history also plays an important role in determining their mortgage rates, adding another challenge to their pursuit of buying a property in Dubai.
In its entirety, financing can be a great leverage for Dubai property investments for foreigners; however, the conditional accessibility might be challenging for many.
The 1% Payment Plan: The Road to Buy a Property in Dubai
From prime locations like Palm Jumeirah and Downtown to modern living landscapes in Arjan, JVC, JVT, etc., Dubai has a home for every aspiring individual.
The market offers a wide range of options, personalized for different lifestyles and suites of luxury, making Dubai property investments for foreigners more attractive and accessible.
Furthermore, the introduction of the 1% Payment Plan has revolutionized Dubai’s real estate market, spearheading Dubai property investments for foreigners and existing residents.
With as little as a 20% down payment, families and aspiring individuals can now buy a property in Dubai with ease, and without the hassle of mortgaging or financing large sums.
The 1% payment plan allows property buyers to initiate the sale by paying 20% asset value as a down payment, reducing the initial capital investment and the barrier to entry in Dubai’s real estate market.
Following this, buyers can pay the remaining balance in 1% installments every month until the completion of the project.
Danube’s 1% payment plan has changed the dynamics of Dubai property investments for foreigners.
It has benefited 1000s of families aspiring to buy a property in Dubai. Moreover, the 1% payment plan has created a win-win situation for property owners, Danube, and Dubai’s real estate market.
Residency Permits, Visas, and Renewals
Another concern for foreign investors coming to Dubai is permanent residency. Mostly, the concern arises around stability and one’s long-term plans to stay in the country.
Dependencies, sponsorship requirements, and repetitive renewals for residence permits make the process more challenging for foreign investors relocating to Dubai.
Golden Visa for Property Investments
The introduction of the Golden Visa now allows foreigners to buy a property in Dubai worth AED 2M and get an investment-backed visa for 10 years.
The Golden Visa also allows individuals to sponsor their husband, wife, parents, and children irrespective of their age, eliminating the hassle of external sponsorships and dependency.
Moreover, the Golden Visa is renewable, allows property buyers to stay outside of the UAE for longer than six months, and has greatly incentivised Dubai property investments for foreigners.
Conclusion: How can Non-residents Buy a property in Dubai
Many tourists come to Dubai on vacation and end up finding their ideal lifestyle and home within Dubai.
It compels them to come back and settle in a fast-paced economy that incentivizes businesses and entrepreneurs with its tax-free economy, state-of-the-art infrastructure, and futuristic vision.
Dubai property investments for foreigners offer great opportunities for them to return to Dubai and build their ideal life.
Strategic government initiatives like the Golden Visa help foreign investors buy villas, apartments, or flats in Dubai and get a 10-year renewable residency permit, without requiring visa sponsorship or any dependency.
The Golden Visa further allows them to sponsor their partners, parents, and children, promoting long-term stability around their property investments along with their families.
Danube’s 1% payment plan has greatly benefited property buyers by removing the barrier to entry with huge down payments associated with Dubai property investments.
Buyers can pay as little as a 20% down payment to initiate the sale and pay the balance of the asset value at 1% per month until the completion of the project.
The 1% payment plan has helped numerous non-residents and residents realize their dream of owning a house in Dubai and build their lives around it.
Paired with Golden Visas, Danube’s 1% payment plan extends an enormous opportunity for foreigners to come, invest, and benefit from the promising returns of Dubai’s robust real estate market.