JVC is a diverse mixed-use master community encompassing a range of property types including apartments, townhouses, and villas.
It is also one of the more diverse communities when it comes to the sheer number of projects by a wide range of property developers. As a result, the types of Payment Plans available in JVC can and do vary greatly.
Here we take a look at some of the more readily available Payment Plans in JVC.
Popular JVC Payment Plans
50/50% – This is a popular payment plan available in some JVC projects. Widely considered a great payment plan for buyers it requires the buyer to pay 50% of the total payments during construction, and 50% on handover.
A full breakdown of this particular payment plan:
| Instalment | Payment Percentage | Due Date |
|---|---|---|
| Down Payment | 10% | October 2023 |
| 1st Instalment | 10% | December 2023 |
| 2nd Instalment | 10% | April 2024 |
| 3rd Instalment | 10% | August 2024 |
| 4th Instalment at 20% Completion | 10% | April 2025 |
| 5th Instalment at 40% Completion | 10% | November 2025 |
| 6th Instalment at 60% Completion | 10% | May 2026 |
| 7th Instalment at 80% Completion | 10% | October 2026 |
| 8th Instalment at 100% Completion | 10% | August 2027 |
JVC Post Handover Payment Plans
There are currently no projects in Jumeirah Village Circle with a post-handover payment plan.
Post-handover payment plans are a popular type of payment plan and for good reason. They are a type of payment plan where a portion or percentage of the total payments is due in a period of 1 to 3 and sometimes even 5 years after the property handover. Whilst great for buyers post handover payment plans aren’t ideal for developers as it means they have to wait longer to receive payment.
Due to this, payment plans are rare and tend to be offered in slower market conditions and in some cases slower moving products.
Key Takeaways
- Every off-plan project comes with a payment plan
- There are a large number of developers operating in JVC meaning a wide range of different payment plans on offer
- A Payment plan offered for a particular project can and usually does change over time.
- Although not common Payment plans may be negotiable. This is done on a case-by-case basis and is dependent on a variety of factors including the value of property being purchased as well as market conditions.
- There are currently no post-handover payment plans available within JVC. This is unlikely to change for as long as property market conditions remain strong.