vallumlj

I have noticed the house prices in dubai seem quite cheap. Do u think this would be a good investment. I have heard a lot about Dubai wanted to be a big touritst attration and this could help with property prices.

what are your views on this.

Stephb1986

my mum has bought in bulgaria a few years ago the property is still cheap over there they are also going into the EU in 2007 there is alot of attraction to certain places like golden sands there is a small town called kavarna Gary player has built a golf course there theres also a yachting marina going in and another golf course. but make sure you do your research before buying property anywhere in the world

The Zohan

Hi
Been in Dubai a month now. Not an expert by any means but here goes

IMHO a lot of ex pats still rent.
House build quality is not like the UK, No guarantes like NHBC. Some people i spoke with are not sure a recent build would last past 25 years. Also a lot of land is leasehold not freehold, even if it states freehold is is not the same in Dubai!

Also be careful where you buy, they decide to put a road through your garden, thats exactly what they will do.

I would consider an apartment in the marina complex or similar but not necessarily a villa in one of the outlying districts. I am currently living in Mirdif in the cpomany villa which is nice but Km's from Dubai town.

rental is good out 4 bed villa would set you back around 1600+ukp per month to rent. It is spacious but part of a complex so has property adjoining it both sides, communal pool. No garden really just a small patch of land at the back big enough to bbq on. Not big on gardens out here, curently 42 degrees and not yet summer!
I would not pay full price for it.

Prices in nice areas high mind, like most places.

PM me if you would like some links to property sites out 'ere.

The rental market is still very bouyant even with quite literally 1000's of place being bullt per month. demand is still outstripping supply - for the time being.

davedipster

Must of been watching the same morning TV show this morning eh.

vallumlj

no i didnt see it mate just saw a advert in the paper

KiwiGTI

I wouldn't buy personally, people have made their money already.

I question the future of Dubai as well, not quite sure the tourism income will replace the oil income. After the glamour of a 2 week holiday in a 5 star resort what does Dubai have to offer?

And a single terrorist bomb will have a massive effect.

Flatcapdriver

As with most investments, when everyone it talking about it then you've missed the boat. If you want to invest in a fly to let, then look closer to home such as some of the possible countries entering the EU.

turboman786

And the arabs can change the goalposts whenver they wish.......IMHO a very risky place to invest as their are no certainties, and trhe middle east as a whole is becoming less stable by the day./.........

Apparition

Dodgy in My view.. Here today, gone tomorrow. And with the constant risk of an upsurge in bad feeling from the underpaid...if paid at all workers who are shipped in to build these properties. Are they honestly going to be putting their heart and soul into such a project on that basis ?
Yve

Scoob99

iTrader: (1)

Their is an advert in The Mail On Sunday about prperty out there, the first 50 buyers get a free Jaguar
Cheers
Colin

DaveMiddleton

Lived in Dubai for 4 years in the 80's.It was great then and has progressed visually enormously.
My own thoughts are that at the Jumairah end they are building 000's of properties and I think the supply will quite soon outstrip demand. Additionally the Sheik Zayed road back in to Dubai(already very busy at peak times) will be like the M25 on a bad day in the next few years. Nice place to visit for a week or two in the cooler weather and then get out.

Petem95

I think buying property as an investment almost anywhere would be a little risky currently.

Property has performed almost unrealistically well (in investment terms) over the last 8years, but now with interest rates on the rise all over the world (US, EU, Japan, South Africa - UK soon, etc), the hangover might start kicking in after the 8year party.

Deep Singh

Pete thats a very 'www.hpc.co.uk ' attitude. There are plenty of countries where prices have not performed 'unrealistically well' and there is still room for improvement. My top three at the moment are

1) India, because the middle class is rising and 'mortgages' have only just been introduced. They were used to 20% interest rates for years.

2) Germany. Prices have been stagnant for over 15 years. Though they have 11% unemployment they are also the worlds biggest exporters. They are about the only part of Europe that hasn't seen a boom, so their time might come. Also Berlin is seeing massive investment to make it the capital

3) Northern Ireland. Combination of peace process and massive inward relocation of big companies to take advantage of english speakers who can be paid lower wages than the english. Thanks to EU subsidies the govt can also offer massive tax breaks.

I've already invested in India, and that has turned out well. Being able to speak the lingo and understand the people (read bureaucy,corruption) helps though.

Though I personally decided not to invest in Dubai I wouldn't write it off. It wants to make itself the trading and financial hub of the middle east like Hong Kong or Singapore. If you compare it to these, Dubai prices in $/sqft of land/property is still very cheap. Rents are on the increase.

Good luck!

All imho of course

Chip

Would I buy??

No!

Chip

Petem95

Deep, I would certainly agree with you on Germany - their economy seems to be coming on-song now, and I understand house prices havent boomed there, so their could be potential. We have a guy at my work who recently came back to the UK after 8years working in Germany, and I did ask him why he didnt consider buying property there - and he did have reasons why he thought it wasnt such a good option, but I forget what they were.

Dont really know about India to be honest, but you are probably right. Could be some good gains to be made by UK based Indians who know what theyre doing over in India, and have the capital to invest. On the other hand risks are always higher in developing countries like that.

KiwiGTI

Possibly because the idea of having so much money tied up in property is a ridiculous idea to most Europeans.

Property ownership is very much an English (and their derivatives like Aus/NZ/) obsession.

Scuuby_wrx

investment in dubai is a good idea

CyprusScooby

Christ you must be mad to buy property ANYWHERE in the Middle East! Its one big ****hole of a sandpit that will be turned into glass soon if Iran and USA have there way!

Reffro

As a foreigner you are not allowed to buy freehold in Dubai, only leasehold. They are talking of relaxing the rules, and may already have, but you need to be aware that you may not actually own anything.

Deep Singh

Thanks for your educated insight. All those that invested in Dubai 3-4 years ago and have made 50-100% returns must be glad that there are opinion leaders like you around

Ralf

Au contraire, mon ami, it's a very common dream still in Germany to have one's own house.

But the reason for not having a boom is the task to bring East Germany to the same level as West Germany. Think hard and you might remember there was something about the two Germanies a good 15 years back. And that's still not finished in a very long and costly time!

The economy looks slightly better this year though.