Facilities For Payments In Real Estate Units, According To Officials

The officials of real estate firms confirmed the need to provide the facilities in payment for real estate units to meet the need for property in quiet markets. They focused that the private sector has observed a rise in competition among the companies to put the payment facilities up and offer the value added aiming at attracting investors.

They also told that the offers has added the value given by few companies finally centered on granting investors without the registration fees or any fee for free services.

Supply and Demand

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Marketing and sales head of Mazaya real estate Company, Kareem Baroudi said that payment facilities are needed to be in line with the demand and supply variables of the market. He also added that it is in correspondence with the rising competition between the companies in presenting the offers to lure investors.

His company, during cityscape exhibition in Dubai, offered free registration fees to the investors and also free services up to one year. Not only is this but 20% fee from the contract of property price added and 80% when receiving units. He added that the increasing competition among companies in granting these facilities units will prove to be a positive thing in real estate sector. But it also has provided offers that shouldn’t be vulnerable facilities focused on advertisements and marketing only for few companies.

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The company started a competition in putting forward the facilities for investor repayment including payment of 10% of the amount at the start. After the period of 2 months, paying 15% of the price of real estate unit to complete payment process of the unit then pay 1% per month of the property price.

The facilities for the payment are compatible with the economic variables of the market and proportionate with large segment of dealers in the community which thereby increases the investors demand.

The Quiet Markets

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MD of Teyban Company said that real estate markets in the past period is the core reason which makes companies to present the payment facilities offers to motivate and stimulate demand for the purchase.

Most of the offerings involved affordability and flexibility as the payment modes for the dealers. He emphasized upon some of the payment which include 40% property price after the completion of the project while other offers include granting price reductions of up to 10% of the property price to the customers who prefer cash payment once for the unit price.

This is necessary to stimulate the current demand in real estate sector. This would be through granting soft dealer payment of the value of the contract for the purchase of real estate unit. These facilities don’t represent any loss for the developer but maintains the profit margin for them from falling out of the demand for quiet markets because they are the developer and investor of the project.

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