Staff Report,
Dubai, UAE
Axiom Prime has announced the payment plan for Milestone Residences, an apartment complex located in Jumeirah Village Triangle (JVT), Dubai. The residence offers one-bedroom apartment at Dh1,078,276 at a flexible payment plan, designed to ease the burden on buyers. During the construction phase, purchasers can secure their unit with a down payment of Dh474,441 (40 percent), spread over 19 months until handover, inclusive of the 4 percent DLD registration fee.
Upon completion, residents can explore financing options, subject to eligibility, with a first mortgage of 80 percent. This financial assistance enables investors to unlock the potential of their investment, with 20 percent equity release available for further property endeavors, and 60 percent directed towards the developer as the final payment.
Once handed over and the property mortgaged, the repayments are estimated at around Dh6,000 per month (price includes expected interest rates increases).
Additionally, based on the appreciating price of Dh1,293,931, investors can enjoy a steady stream of rental income amounting to Dh85,000 per annum on a long lease, translating to Dh7,083 per month, with the excess covering service charges and any other costs.
With demand outstripping supply by nearly threefold on the leading property search portal, investors are presented with a compelling proposition to acquire properties in a high-demand market where competition is fierce and rental occupancy rates are likely to remain consistently high.
In conclusion, Dubai’s unparalleled payment plans for off-plan properties have proven to be a game-changer for investors seeking to capitalize on the city’s booming real estate market.
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