Payment Plans
Buying property in Dubai is more accessible than it might seem at first glance – for projects under construction, you buy directly from the developer who provides you with a payment plan. You do not need to have the full amount upfront, but pay gradually throughout the entire construction process. Each developer sets their own payment plan for their project, so there are many options, and this is also an important criterion for your choice.
The payment plan for a project is determined by the developer; there is no universal plan. Some developers even offer multiple variants, and I am happy to help you choose. Here are some examples:
1st type: Classic Payment Plan
- Reservation fee approx. 50,000 AED (approx. €12,000), exact amount depends on the project
- Within 2 weeks 20% of the purchase price, down payment minus reservation fee
- At the same time 4% fee for registration in the land registry, paid in addition to the price
- 5% every 6 months during construction
- 50% upon handover of the apartment
2nd type: POST Payment Plan
Payment plan with the option to pay after handover
- Reservation fee approx. 50,000 AED (approx. €12,000), exact amount depends on the project
- Within 2 weeks 20% of the purchase price, down payment minus reservation fee
- At the same time 4% fee for registration in the land registry, paid in addition to the price
- 1% monthly during construction
- 10% upon handover of the apartment
- 1% monthly for 3 years after taking over the apartment
3rd type: Payment Plan Linked to Construction Completion Stage
- Reservation fee approx. 50,000 AED (approx. €12,000), exact amount depends on the project
- Within 2 weeks 20% of the purchase price, down payment minus reservation fee
- At the same time 4% fee for registration in the land registry, paid in addition to the price
- 5% according to the specified stage of construction completion
- 30% upon handover of the apartment
Mortgages
It is possible to take out an American mortgage in Slovakia/Czech Republic, but you need to have a free property for collateral because a domestic bank will not accept property in Dubai.
Mortgages can also be taken out in Dubai, but the conditions are stricter than at home, and if you do not have income in Dubai, all documents must be officially translated, which increases expenses.
Repayment After Handover (PHPP)
An alternative are payment plans from some developers who offer the option to repay the property even after handover. That means you take over the property upon completion, can use it properly and rent it out, and still repay it mostly at 1-1.5% monthly over 2-4 years. It is an alternative to a loan but without interest and without income documentation. You can find these projects in the Properties section marked "Option to pay after handover," and I am happy to help you choose and explain the conditions precisely.
On the other hand, if you have the funds for the entire apartment or at least half of it, it is often possible to get a significant discount.
