Rental Property in Dubai with the option of purchase

02 / 09 / 2020

We may soon see a small revolution in the real estate sector in Dubai. Thanks to Dubai South company, which will be a pioneer in the United Arab Emirates in the implementation of a rental scheme for real estate properties with the option to purchase in the future, many potential buyers will be able to purchase their homes in installments, without applying for a mortgage or loan.

The essence of the scheme lies in the rental period of 10 years. It is worth noting that the person signing the documents does not give an obligation to purchase the property. And for new tenants, upon concluding a contract, 2 months of residence are provided for free.

For tenants, special rules have been established, these rules indicate that if the tenant intends to receive real estate on lease terms, he must first pay the first small installment and, in the future, make payments monthly.

The popularity of this rental scheme with further purchase after a 10-year period begins to gain popularity. For the time being, this scheme will be applied on some buildings, and not on all objects.

Completion of construction work of the Dubai South area is planned for the end of 2020. Today, such large companies as Emaar and MAG are implementing their own projects in the district.

The main incentives for renting and purchasing real estate in this area are considered the opening of a new metro station and the proximity to the town of EXPO-2020.