Hi,
I am moving to Dubai later this year and have a few questions:
1. Three years ago I bought a 2 Bed apartment on the Palm Jumeirah. What sort of rental do you think I will get for my 2 bed (sea view) apartment ? (when / if its ready!)
2. What do you think of the current state of the property market. I have read, with great interest, the many posts on this subject over the last 6 months. Most of which tend to have said that the market is very volatile and is likely to suffer a significant deflation soon. However, each month that passes I have seen the prices continuing to rise. As an example, I really like the "Jumeirah Islands" properties and have seen the 4 bed homes there go up by around 15-20% in the last 3 months alone! The fear is obvious. You don't buy soon and when you do decide, prices have risen so far that you can no longer afford that dream home. The opposing fear is buying at the top of the market and all the dangers that go with it.
I am thinking of buying another property in dubai, to live in, and renting the Palm property out.
3. Has life in Dubai changed a lot in the last six months? I notice views and opinions of Dubai, both on this site and many others, getting more and more negative.
Any views and opinions greatly appreciated