Bullet Point Property No 37
Are you aware that it is possible to obtain a Mortgage as a non-resident for up to 50% Loan to Value (LTV) on a property that is under construction however this is limited to projects that have completed 50% of their construction and then is only possible with a handful of developers.
The majority of off-plan developments have payment plans that take this into account and one can almost always find a 30/70, 40/60 or 50/50 plan available from developers i.e. 50% in construction linked instalments followed by 50% on Completion.
Once a building has a Completion Certificate then the buyer can have the final payment paid by the mortgage company/bank.
A 50% LTV Mortgage is a relatively straightforward application and approval process whilst 51% to 75% is more stringent.
If you need more information on mortgages then let me know and I can ask our friendly mortgage broker to give you a call and explain how it all works
Here are my top five Bullet Point Properties for this week
EATON PLACE JVC
eaton place jvc
The launch of Eaton Place in JVC is expected any day now.
Best estimates are that prices will begin at around AED 1,000 per sq.ft. so we can assume that a one bed will start at around AED 800k and two beds at AED 1.1m which is a very attractive price for the end user and investor.
There will be a VIP launch event for which we will have full access on behalf of our clients and we expect this to be held over a two-day period after which the building will go on general release to the public.
Please do let me know if you wish to be part of the VIP launch
KOA CANVAS
KOA CANVAS
At Canvas, luxury means high-quality but "quiet" materials, centred on a palette of natural stone, wood and metal; it means lots of natural light and ample space; it means Poggenpohl kitchens, enormous walk-in wardrobes and meticulous attention to detail, whether in frameless doors or hidden AC vents.
A 656 sq.ft. studio is available at AED 779,771, one beds start from just over AED 1m, two beds at approx. AED 2m and three bedroom penthouses start from AED 3.3m
You need to see this unique project because there is nothing else like it in Dubai
CREEK RISE
CREEK RISE
Emaar launched their latest building on the Island district in Dubai Creek Harbour. It's another twin tower located directly on the central park and will offer views of the water, the Dubai skyline and The Tower.
Will the payment plan offer of 60% during construction and 40% for two years' post- handover be around for long?
I don't imagine it will be long before this is sold out with the one beds starting at AED 1.3m, two beds at AED 1.6m and three beds at AED 2.5m
STUDIO 1
STUDIO 1
Dubai Marina is at the top of most people's shopping list when they arrive in Dubai, it's the original master development and the one that is closest to completion.
This residence is developed by the largest private developer in the area - a specialist in designing and building apartments for tenants and owners who want to live in the Marina and demand quality within a well-managed building.
Almost entirely sold out however we have a couple of very well proportioned two beds with full Marina views starting at AED 1.4m and on a 30/70 Payment plan
ALANDALUS JUMEIRAH GOLF ESTATES
ALANDALUS JUMEIRAH GOLF ESTATES
Jumeirah Golf Estates is not only home to the Race to Dubai golf championship but also to many of the most exclusive family villas in all of Dubai. Close to the north entrance of this gated estate is a cluster of buildings called Alandalus consisting of eight buildings along with a boutique hotel and small shopping mall.
The developer officially launches their third building today with one beds starting at AED 685k, two beds at AED 1.2m, three beds at AED 1.6m and four beds at AED 2.5m
Payment Plan Option 1 – 30% during construction and 70% on Handover or 50% during construction and 50% 1 year after Handover
Thank you for reading this far and have a great weekend
Please message me whenever you have any questions on any of the above or if you are planning a trip to Dubai so we can arrange to meet.