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What would you do if you were in my place?
We have been in Dubai for last 2.5 years and have already moved to two different places due to Landlord’s plans to sale the property. We are currently living in a 2 bed apartment in Palm and thinking about buying the apartment to stop the process of moving to a new place every year or two. We are planning to stay here for next 3-5 years.
The building where we live currently is in the range of 2.5 Million to 3 Million Dhs. While some of our friends have suggested to wait and watch for another year as they believe there is another major crash coming due to low oil prices and lots of supply coming in next year. Some friends think the prices will go up again due to expo2020. Considering the abnormal rental situation we are thinking it’s may be better option to get mortgage and buy and yet we don’t want to be in position like last crash where people had to sale assets at major loss and leave….
What would you do if you were in my place? Would you buy or would you not….
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