Buying in Dubai now
Discussion
I’m over here now on holiday and have been looking at apartments to buy. Amazing place ( in my opinion). I would buy off plans and get the keys in about 2 - 3 years. At that point I reckon me and wife would move out here, enjoy the sun and safe and relaxing lifestyle out here. After a few months we’d either stay and get some part time work or rent the apartment out and treat it as a long term investment.
I’ve been in the property business 20 odd years but that is in the UK. I just can’t call what is going to happen out here.
Am I nuts ?
I don’t have much faith in the uk at the moment, a bolt hole elsewhere in a few years might be nice ! And tax free.
Does anyone have a crystal ball ?
Does anyone actually know about the market here?
Please don’t just fill the thread with ‘home of the rich and famous : organised crime ‘ type trolling. I would really appreciate some advice from somebody who has done it recently.
Thanks all,
Dan
I’ve been in the property business 20 odd years but that is in the UK. I just can’t call what is going to happen out here.
Am I nuts ?
I don’t have much faith in the uk at the moment, a bolt hole elsewhere in a few years might be nice ! And tax free.
Does anyone have a crystal ball ?
Does anyone actually know about the market here?
Please don’t just fill the thread with ‘home of the rich and famous : organised crime ‘ type trolling. I would really appreciate some advice from somebody who has done it recently.
Thanks all,
Dan
That’s kind of how I feel.
The other thing is, what really fuels growth here ? The more I think about it, the more I think that stuff is built, agents are incentivised to sell it, developers are paid, so more gets built.
There is capital flight here from a lot of countries which keeps fuelling the demand. Also higher energy prices in Europe and other cold regions too. But it seems like it could all just grind to a halt.
Funnily enough I was chatting to a Spanish guy here on New Year’s Eve who said he was planning to move from Spain because crime was going out of control there - in his opinion.
Another Brit said he was moving out for similar reasons - you can walk around here at night safely. But is it a just a huge bubble that is due to burst ? I suppose you really need a crystal ball for that ?
The other thing is, what really fuels growth here ? The more I think about it, the more I think that stuff is built, agents are incentivised to sell it, developers are paid, so more gets built.
There is capital flight here from a lot of countries which keeps fuelling the demand. Also higher energy prices in Europe and other cold regions too. But it seems like it could all just grind to a halt.
Funnily enough I was chatting to a Spanish guy here on New Year’s Eve who said he was planning to move from Spain because crime was going out of control there - in his opinion.
Another Brit said he was moving out for similar reasons - you can walk around here at night safely. But is it a just a huge bubble that is due to burst ? I suppose you really need a crystal ball for that ?
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