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ewmoda

Would you buy a villa in Dubai now? 2013?

52

Posts

EW NEWBIE

Latest post on 21 May 2013 - 10:28

Do you you think it is a buyers or sellers market and would you take the risk in this volatile market?

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2738

Posts

EW EXPERT

Latest post on 21 May 2013 - 17:10

Super tricky questions ... my cousin is an architect and at the moment things are definitely on the move ... prices are steadily increasing ... but not at the prices they went up to before 2007 .... in my opinion .. i really thinks it totally depends on the community you buy in to ... Ranches still seems to be a good buy ... other communities and or building maybe over valued ... hope that helps.. I think it depends on how much you can afford to lose should it go wrong. Lots of free capital then go for it if it's what you want.

8

Posts

EW NEWBIE

Latest post on 21 May 2013 - 17:06

Super tricky questions ... my cousin is an architect and at the moment things are definitely on the move ... prices are steadily increasing ... but not at the prices they went up to before 2007 .... in my opinion .. i really thinks it totally depends on the community you buy in to ... Ranches still seems to be a good buy ... other communities and or building maybe over valued ... hope that helps..

926

Posts

EW GURU

Latest post on 21 May 2013 - 17:01

a) get DS to sponsor me :D b) use the residence visa you can obtain via property purchase (1 yr renewable) c) hope that UAE starts giving out passports to people who have been here for 40 years :D d) all of the above assuming your son can get a sponsor and chooses to remain in the UAE hope the rules offering you an annual visa don't change hope the rules re UAE passports DO change get a crystal ball LOL !!

149

Posts

EW NEWBIE

Latest post on 21 May 2013 - 16:49

We are very happy with our villa, and in fact wouldn't be here now if we hadn't bought it, as we wouldn't be able to afford the 240,000k p.a. rents. We are also retired and have a residence visa (which is an investor visa) with the property. They started giving them again about 6 months ago. Both retired and love living here - mainly because grandchildren are here (and their lovely parents of course). But we are lucky, bought off plan in early days. Our villa is our pension, one day.

2584

Posts

EW EXPERT

Latest post on 21 May 2013 - 16:48

a) get DS to sponsor me :D b) use the residence visa you can obtain via property purchase (1 yr renewable) c) hope that UAE starts giving out passports to people who have been here for 40 years :D d) all of the above

926

Posts

EW GURU

Latest post on 21 May 2013 - 16:46

and a vote for the other side to even things up! We know lots of people (ourselves included) who are very happy with property investments in the UAE, although admittedly all are long term UAE residents and plan to remain so. so what will you do when you retire, ?? ...assuming the law doesn't get changed

2584

Posts

EW EXPERT

Latest post on 21 May 2013 - 16:42

and a vote for the other side to even things up! We know lots of people (ourselves included) who are very happy with property investments in the UAE, although admittedly all are long term UAE residents and plan to remain so.

2192

Posts

EW EXPERT

Latest post on 21 May 2013 - 16:05

What happens if you lose your job and can't pay the mortgage ? or if you pay cash you become too ill to work and therefore lose your residence visa... And do you really want to invest in a country that doesn't want you when you're too old to work ? and what happens to you and your property then ? I would only buy property here if I had a crystal ball and the law on residence visas was changed to include property owners ...... too many What ifs which means I personally would never buy here !

926

Posts

EW GURU

Latest post on 21 May 2013 - 15:54

What happens if you lose your job and can't pay the mortgage ? or if you pay cash you become too ill to work and therefore lose your residence visa... And do you really want to invest in a country that doesn't want you when you're too old to work ? and what happens to you and your property then ? I would only buy property here if I had a crystal ball and the law on residence visas was changed to include property owners ......

154

Posts

EW NEWBIE

Latest post on 21 May 2013 - 15:36

Right on, The Dangerous Blonde! A small cautionary tale, ideally suited to this topic... my husband and I looked at a villa for sale in March, made a firm cash offer, and requested the sales contract. Two months have gone by, with us chasing the agent by phone, email etc -- no sales contract ever provided -- and he finally got back in touch this week to say that the seller now wants AED 1 million more! I won't mention the exact company name, except to say that it rhymes with 'Probably Bent' Real Estate... very appropriate. Caveat emptor, or buyer beware!

1120

Posts

EW OLDHAND

Latest post on 21 May 2013 - 14:34

Risk to who? Risk is dependent on personality, some see risk as fun, you either make or lose big. Risk to most is not worth taking in case it goes wrong. Anyone who says they can predict the housing markets over the next few years is living in munchkin land in my view. What you are referring to is risk appetite. And people make a living researching the markets and predicting future market conditions based on very complex models and macro/micro data.

2192

Posts

EW EXPERT

Latest post on 21 May 2013 - 14:28

i know lots of poeple who are in negative equity .. with properties they purchased in the springs in 2007 ! on the flip side, I would much rather purchase in the UK. the job situation is so unstable here and my fear would be owning this property and loosing my job.

993

Posts

EW GURU

Latest post on 21 May 2013 - 14:27

I would buy only if I reasonably confident of being in Dubai 7-8 years from now

993

Posts

EW GURU

Latest post on 21 May 2013 - 14:27

I was considering to buy something in Dubai, once I got in contact with 2 banks with regards to fianance options their unprofessionalism put me off completely!! They want cash buyers, ideally kept and delivered in a briefcase !

2738

Posts

EW EXPERT

Latest post on 21 May 2013 - 14:25

Risk to who? Risk is dependent on personality, some see risk as fun, you either make or lose big. Risk to most is not worth taking in case it goes wrong. Anyone who says they can predict the housing markets over the next few years is living in munchkin land in my view.

teenachandy2011

57

Posts

EW NEWBIE

Latest post on 21 May 2013 - 14:13

plz contact John at zero five zero two three three eight two five three. I am sure he can help you.

4

Posts

EW NEWBIE

Latest post on 21 May 2013 - 11:18

I was considering to buy something in Dubai, once I got in contact with 2 banks with regards to fianance options their unprofessionalism put me off completely!!

52

Posts

EW NEWBIE

Latest post on 21 May 2013 - 11:04

Do you know how to get a 3rd party evaluer to estimate the market value of the property??

493

Posts

EW EXPLORER

Latest post on 21 May 2013 - 10:33

No way. Some of my friends lost a *lot* of money in the last crash and the current market doesn't look v promising either. Plus as expats we're v limited as to what is on offer and a lot of construction is just not built to last. Better to look at investing in more established mkts (e.g. the west). if that's not an option right now, best to sit tight and save for a future opportunity.

313

Posts

EW EXPLORER

Latest post on 21 May 2013 - 10:32

yes

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