Return of Rent-to-Own Real Estate Schemes May Bring More Flexible Purchase Options to Expats in Dubai
DUBAI, UAE, Aug. 28, 2014 /PRNewswire/ -- Expatriates looking for a more flexible way to enter the booming Dubai real estate market may soon have another option. In response to increasingly stringent regulations imposed on real estate purchases, there has been a push by industry experts to reintroduce the rent-to-own schemes of a decade ago.
In the midst of the endeavors to cool rising prices and avoid a housing bubble, a new plan has emerged to inspire confidence in expats and encourage would-be investors put off by the restrictions of the current mortgage cap.
Similar to an option contract, rent-to-own schemes allow buyers the option to end their contract and decide whether to pool their rent money towards the purchase of the home or to simply move on to another property without penalty. It's the ultimate in "try before you buy" and gives area newcomers a chance to see if a property or neighborhood is right for them before making a long-term commitment.
Rent-to-own schemes also benefit developers and current property owners due to the high likelihood of selling at a higher asking price to investors wanting to hold onto the option of such an exit strategy.
After seeing such exponential growth in the residential housing market last year, Dubai appears to stand primed and ready to bring back rent-to-own schemes and boost sales to expats who want to take their time in finding the perfect home.
Regardless of whether you own or rent, Sterling Luxury Group understands that making your home your own is important to feeling like it's your sanctuary. Our interior redesign services through Sterling Home Styling in Dubai will help you feel more at home in Dubai whether you're planning on staying 2 years or 10 years.
And for those who choose to rent, it doesn't mean that you shouldn't invest in your interior decor or that you should have to spend a lot of money doing it. Our expert designers will help you find and identify your style and then personalize your rental using key elements. From furniture and layout to artwork and accessories, we focus on colors, materials and finishes that are reflective and inspired by your lifestyle and preferences. We then tie everything together in a cohesive design to create a dream home that truly feels like your own.
About Sterling Luxury Group
Sterling Luxury Group redefines the meaning of living a luxury lifestyle. From helping you select the perfect home through Sterling Luxury Homes, to refining the finishing touches of your interior decor through Sterling Home Styling, to styling you from head to toe through Sterling Personal Styling, let us redesign and restyle your life from Miami, New York, L.A., San Francisco and Dubai.
SOURCE Sterling Luxury Group