‘Ready’ homes pitch gets boost

Where possible, local developers are recrafting their campaigns in tune with market sentiments. Off-plan may be off the radar with investors, but developers are trying to convince them that ready can be good.

Such messages come streaming in on emails, messages and on WhatsApp. A recent one suggested that paying Dh78,000 will be enough to move into a completed apartment at Jumeirah Village Circle, with the developer offering financing at 0 per cent interest and 3.3 per cent monthly.

With mortgage rates inching up, expect more developers to come in with their own financing promises.

All of which will further complicate matters for the rental side of the market. As said before, tenants will have no complaints on this score. All of the pain will only be felt by landlords.