Hi All ,
I'm currently thinking about buying a property in Dubai ( small flat of 1 bedroom ), not to live there but as a rent investment , holidays or simply thinking about future work opportunities I could face.
I've never been in UAE , so i I know the best thing would be to get there and realize what really Dubai is ! But I'm a bit confused ... Looking at internet sites like EMAAR or other builders they show fantastic landscaping , great buildings , all looks nice and perfect. They advertise this freehold tenure ( but then i read on this and other forums that it is a 99 yrs lease renewable ?? ) , propose the best technologies ( but then i read that a lot of properties had big structural issues that did not allow people to move in ), kind of easy procedures with these payments steps ( but some of you explained this is not all direct and clear).
I'm a bit worried about reliability and quality of the buildings and the area developments ( looking at the speed they're growing ) i mean i'm not an engineer but still ... better know where ur money is going. My budget would be ( in Euros ) around 180K (850k AED) possibly mortgage but with a good downpayment. Now the questions :
Do you believe Dubai is a reliable estate market to invest in ?
Any particular area is going to be up in the next few months or better any area you think will be too expensive to invest in ? ( i know this is hard to say but just to have an idea about my homework online ).
DO you think managing the property from abroad is going to be difficult and expensive ( loosing money from rent ) ?
It looks like now there is a lot of demand of rent , is there a risk that all these developments are going to give too big offer compared to the demand ?
Thanks very much for your ideas and your knowledge as expats leaving in Dubai even if I know most of the times the questions are almost the same ...