dubai real estate – Silicong gate?
February 18, 2009 by admin
Filed under Renting & Real Estate
Me
guys, what do you think about investing in the silicon oasis (buying a freehold stodio or one bed room). I have to make up my mind today. prices are in the range of 320,000 AED to 390,000 …..I’m concerned about the location. it seems far from being develped anytime soon. near the internatinal city!!…any hints?
guys guys guys…first of all, there is no king there. 2nd, Dubai in 2000 has nothign to do with Dubai of 2007 (let alone 1989) the future is there. Read about it..I’m not asking about whether Dubai is a good place to invest or not, i’m asking if this specific area is a good area or not. I’ve been to Dubai so many times and it’s becoming the place where every great designer showcase their talents. There are clear laws, and since I’m a GCC national, I don’t have to worry whether I can own the apartment or not. I’m planning to rent it out, the developer of the porperty does that and give you the net. (rent – 5% fees). There are no tax in Dubai, and utlities shall be paid by the renter.
guys, what do you think about investing in the silicon oasis (buying a freehold stodio or one bed room). I have to make up my mind today. prices are in the range of 320,000 AED to 390,000 …..I’m concerned about the location. it seems far from being develped anytime soon. near the internatinal city!!…any hints?
guys guys guys…first of all, there is no king there. 2nd, Dubai in 2000 has nothign to do with Dubai of 2007 (let alone 1989) the future is there. Read about it..I’m not asking about whether Dubai is a good place to invest or not, i’m asking if this specific area is a good area or not. I’ve been to Dubai so many times and it’s becoming the place where every great designer showcase their talents. There are clear laws, and since I’m a GCC national, I don’t have to worry whether I can own the apartment or not. I’m planning to rent it out, the developer of the porperty does that and give you the net. (rent – 5% fees). There are no tax in Dubai, and utlities shall be paid by the renter.
I can not answer to your specific question, but I was in Dubai and Abu Dhabi in 1989-1990.
King, Prince, whomever, I meant the dude with the license plate number 1 on his 500 SEL. (or whatever he is driving these days)
Remember where you are over there. Dubai is very liberal, more so than Abu Dhabi. But it is still part of the Kingdom.
Is this your first foray into properties abroad?
Are you willing to take all the risks attached and have you thought them out carefully?
One of the first is that you are not around to troubleshoot.
If you have to evict a tenant, you are not familiar with their laws of eviction and then have to source a lawyer that will not give you trouble too.
Is there a reliable real estate agent whom you can trust to do the management of the rentals of the property? They take a monthly cut of more than 10% of rentals so you have to factor a new expense into your calculations.
Renting out property in your own country is troublesome enough, so you want to add to the problems here?
Of course, you might make so much money that an occasional hiccup won’t cost much. But you don’t know if this will happen, do you?
If you go Dubai often enough and will save money on hotel bills and eating expenses by cooking your own then okay. But you have to pay domestic utilities bills. All right if you are around often enough to attend to all these things if your work permits.
I wanted to buy Australian property at one time. Someone who worked there as an expatriate (with a wife and kids) asked me, “What for? Tell me what makes you want to do it!” And he demolished my reasons one by one with sound facts. He didn’t choose to do it for those reasons. Can I think of doing it for better reasons?
And a few retired friends of mine sold their Australian properties and moved back home.
I ask you the same question: What do you want to do it for?
Can you achieve the same back home?
Do you know all the pitfalls involved or are you daring and willing to learn by experience? This is an admirable trait too.
Then good luck to your venture.
it,s seem to me good price but we have to think how to pay it
the more longer is batter
I would jump at the chance to buy real estate in Dubai.
The development, the economic climate, the infrastructure, the industrial base, the increased tourism, the new universities, Jebel Ali, the social climate, the beautiful people and the incredible blend of modern society and historical significance make this one of my number one cities in the world.
I have been to Dubai 8 times. I took my wife there to the Dubai Airshow a few years back (it was her first trip out of the US!) We are actually considering moving there when our children leave the nest.
Now I know where to stay….I’ll just stay with you!