99 year lease | ExpatWoman.com
 

99 year lease

474
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EW EXPLORER
Latest post on 19 August 2014 - 17:02

As I understand it, all the properties in Dubai are under 99 year leases. Is that from the day they were built or from the date of purchase? Does anyone know what happens to all of these houses once that lease expires?

(yes, I know, thinking ahead)

927
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EW GURU
Latest post on 21 August 2014 - 16:29
I wonder if some of these new builds here will still be standing in 99 years time. Having spoken to several contractors on builds here, you'd be lucky if they were still standing after 30 years, let alone 99. Which is exactly what I meant..;) <em>edited by Genie on 21/08/2014</em>
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EW NEWBIE
Latest post on 21 August 2014 - 16:19
99 years lease is for land, not the structure. Once you purchase a villa or an apartment it's yours, but the piece of land where that property located is in lease for 99 years.
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EW NEWBIE
Latest post on 21 August 2014 - 16:12
Keep in mind the quality of the construction, a properties 10 years old is almost at its "end of life" 99? Only dust
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EW GURU
Latest post on 21 August 2014 - 14:57
it's astonishing that the average 3/4 bed villa is being sold for over a million dollars, and you don't even really own it... Leasehold isn't unusual for hugely expensive apartments in big cities like London and New York. What's astonishing is that people are prepared to invest so much money in the UAE property market when they will never have the right to live permanently in the country and are only ever 30 days away from being forced to leave it.
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EW EXPERT
Latest post on 21 August 2014 - 13:14
I wonder if some of these new builds here will still be standing in 99 years time. Having spoken to several contractors on builds here, you'd be lucky if they were still standing after 30 years, let alone 99.
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EW EXPLORER
Latest post on 21 August 2014 - 11:24
it's astonishing that the average 3/4 bed villa is being sold for over a million dollars, and you don't even really own it...
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EW EXPLORER
Latest post on 21 August 2014 - 07:55
99 years after being built, not after purchase. If you buy 10 years after being built, you can own for 89 years.
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EW GURU
Latest post on 20 August 2014 - 20:44
The way rules regarding things housing related change here from year to year even if you did know what it meant the chances of it remaining the same in 99 years time is unlikely. I wonder if some of these new builds here will still be standing in 99 years time. As 99 year leases were just meant to be a time span beyond the expected life span of the lessee I think here they would be a time span beyond the expected life of the building ;)
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EW EXPLORER
Latest post on 20 August 2014 - 20:05
would love to know the answer to this!
 
 

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