Dubai Forums Dubai Expat Forums Accommodation in Dubai

I am thinking of staying in Dubai for at least 5 years, which is a lot of rental income! Therefore, I am looking to buy a villa but have heard that you never own the land and the government have the right to build a highway or any other construction on your land and only pay you the amount you paid for the villa, as opposed to what it may be worth at the time they requisition it, is this correct?

Any other advise relating to purchasing a property would also be very much appreciated.

Many thanks
Alan

I think buying is the best way to go in Dubai the rents are through the roof. Properties values are always increasing and it is a good investment when you want to leave you can always sell or put it on rent and earn gradually. It is true that you donot own the land but it is my professional opinion (I work as a sales executive in a real estate firm called Bin Was) that it is possible for the govt to do that in dubai. Although if you are smart about it and buy property in a place where there is no chance of any of that stuff to happen you will be fine e.g. The Palm, or The Jumeirah Beach residence or the Jumeirah Lake towers. Technically the govt can do that but it will not be feasible for them and Dubai Govt thinks about benefits first to them that is. If you want some help finding something PM me I ll try my best to find you sumtn within your requirements.

There is alot of discussions on this subject .. search the forum and you will find them.

Just one thing to keep in mind is that financing is a bit harder when you have just moved here and you will need a bigger deposit. So if you can find a bank in your home country that will finance your dubai property that would be best.

good luck

flightfinders: are you sure you know exactly how long you are going to stay? It is so difficult to judge whether we are going to be here the next day or next week. We are all expats and don't have job security

flightfinders wrote:Any other advise relating to purchasing a property would also be very much appreciated.

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