Would never buy here. As MF mentions laws change without notice. ( you only have to speak to people in the villa project to see how extra are not disclosed and added from what I hear).
The standard of build is generally very poor ( take a look at the subsidence on the golden mile for example), and unless you have a super super secure job, which is doubtful in the current climate here, I wouldn't recommend it unless you can pay your mortgage indefinitely without wages coming in. Friends of ours just moved into their villa 2 weeks ago, he's been made redundant for the 2nd time in 18 months and they have no option than to leave.
We don't own here, we made that decision when we arrived many years ago, but from what I understand you cannot get redundancy cover on your mortgage either.
Too many risks and unknows for us. Many do own however and are very happy.
Hi,
We are seriousley considering buying the villa we rent in JVT - the project is starting to move at last and they are selling cheaply.
We plan on long term in Dubai anyway and can see a potential to also make a profit in year to come.
Anyone already bought a property? And what are the plus & minus of buying?
Any advice greatly appreciated.
Thanks
The major downside is that laws change here every day, notably with regards to visas and sponsorship rules (i.e. just because you own property, doesn't mean you can live here forever) so any day they could decide to take away property owners rights or you cold be out of a job, therefore no sponsor, and have to leave.
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