Dubai - the Las Vegas of the East
Dubai’s population has exploded over the last few decades, with 85% of the residents comprising of expats from various parts of the globe. The country is largely a tax-free haven for private individuals, and the local authorities have opened the gates wide open for foreign investment.
Freehold property ownership was brought about in 2002. Two decades on, this has proven to be a great success as investors lap up new developments with projects selling out within 24 hrs after launch. You too, can take advantage of investing in one of the many projects currently underway by Dubai’s largest private residential developer.
Buying off plan now will ensure your investment returns increase on completion. There are 36 months payment plans in place. You can even resell your investment after 30% of the property is paid off. Prices start from ZAR1,6m.
Get the Quality you're after
As a foreign buyer you can apply for up to 50% mortgage bond financing, on completed units only. Off plan purchases can be financed on completion of the unit, so you could time these with a 50% down payment according to the payment plan during construction, and the financing of the remaining 50% upon completion.
DAMAC have a mortgage division who can assist.
Rental management service of your property at 5% commission charged on the annual rental income.
The only duty you will pay is DLD: Dubai Land Department duty, at 4% of the total purchase price. Transfer of the property into your name is effected within 24 hrs of full payment being received by DAMAC. No further taxes or rates are charged to you.
DAMAC also remain in control of the maintenance and property management of all their developments, ensuring the top quality you have been delivered, remains as the status quo.
Get in touch with us to let us know the type of accommodation you’re interested in, which area, your budget, finance requirements, etc and we’ll get a presentation together for you to consider.
