Many citizens are well aware that an installment plan is not a loan. But what about a similar service in Hurghada?
Buying a new building in installments is a form of payment in which the buyer pays the cost of the apartment in installments over a certain period of time.
When buying by installments, the client pays directly to the developer, without intermediaries.
Installment is not a new product in Hurghada.
Today, buying an apartment in a new building in installments is one of the most common opportunities to acquire an apartment in ownership.
Perhaps the most common option is to provide an interest-free installment plan for a purchase for a period of several years until the house is put into operation. Often, developers are ready to provide interest-free installments for a period exceeding the construction period of a house.
So we have apartments in a ready-made compound, costing $ 9000 with an initial payment of 50% and installments for 1 year.
And there are apartments worth more than $ 100,000 with an initial payment of 10% and installments for 8 years, upon completion of the construction of the house in 3 years. That is, we see that the installment plan exceeds the construction period by 5 years.
Buying an apartment in installments for the purpose of investment, you can buy an apartment now and rent it out to pay for the next payments to the developer.
For any questions regarding the PURCHASE and selection of real estate in Hurghada, you can always consult with our specialists who have up-to-date information and will help you make the right choice
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