Are rent-to-own units a good option for property buyers in Dubai?

Are rent-to-own units a good option for property buyers in Dubai?

Experts answers questions on options for the potential buyer

By Realty Bytes/Wassim Abdallah Published: Thu 25 May 2023, 4:52 PM Last updated: Thu 25 May 2023, 4:59 PM

How many developers are offering rent-to-own options in Dubai?

Rent to own offerings are becoming popular in Dubai, but not many individuals understand what they include. In simple terms, rent-to-own properties involve the buyer purchasing the property from a developer by paying on a monthly, quarterly, or annual basis, as specified in the agreement. Nowadays, very few developers have this type of financial purchasing method, such as an example in Dubai South with a post-handover payment plan that can go for 10 years and in Villas such as California Village with a ready to move in and post-handover payment plan that can go for five years and few other options.

Is rent-to-own trend rising in Dubai and in which areas?

When there is a high demand in the real estate market, rent to own options are rarely seen; however, when there is a high supply in the market, developers will introduce rent to own as a second option to sell in order to move the stock, which is more common in projects located far from the city,