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What do you think about Dubai's Property Market?

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SteveFam | 18 Mar 2017, 05:32 PM Agree 0
Hello experts,

I'd like to have experts take on the situation of Dubai's real estate market especially the new offplan development.

Being the international agents, what do you think about this market? Has any of your clients/investors asked you about investment in Dubai?

Looking forward for the valuable inputs.

Thanks,
  • ozdrjohn | 21 Mar 2017, 03:23 PM Agree 0
    hi stevefam - i lived there between 2005 and 2011. while some people did well, many ghost-towns were created. the returns there look impressive, however i think the level of risk on a whole range of fronts, from regulatory to currency to transparency, that is well beyond my risk appetite. my wife also sold real estate there and in some developments apartment blocks were turned 180 degrees so your sea-facing apartment now has a desert view. some apartments were designed right out of a building (even though they had been sold) and if you need to get a solicitor, well, good luck even getting one - and then there is the legal uncertainty if the matter goes to court - and you may be trying to sue sheikh mo's cousin. the harsh climate can also mean that after a short space of time you can get a lot of structural problems (plenty where i lived in The Springs). so for me, way too much risk for the returns involved and you will most likely only end up buying something like a 100yr leasehold. that's my two-bobs worth anyway...
  • ozdrjohn | 21 Mar 2017, 03:24 PM Agree 0
    hi stevefam - i lived there between 2005 and 2011. while some people did well, many ghost-towns were created. the returns there look impressive, however i think the level of risk on a whole range of fronts, from regulatory to currency to transparency, that is well beyond my risk appetite. my wife also sold real estate there and in some developments apartment blocks were turned 180 degrees so your sea-facing apartment now has a desert view. some apartments were designed right out of a building (even though they had been sold) and if you need to get a solicitor, well, good luck even getting one - and then there is the legal uncertainty if the matter goes to court - and you may be trying to sue sheikh mo's cousin. the harsh climate can also mean that after a short space of time you can get a lot of structural problems (plenty where i lived in The Springs). so for me, way too much risk for the returns involved and you will most likely only end up buying something like a 100yr leasehold. that's my two-bobs worth anyway...
  • ozdrjohn | 22 Mar 2017, 12:06 PM Agree 0
    hi stevefam - i lived there between 2005 and 2011. while some people did well, many ghost-towns were created. the returns there look impressive, however i think the level of risk on a whole range of fronts, from regulatory to currency to transparency, that is well beyond my risk appetite. my wife also sold real estate there and in some developments apartment blocks were turned 180 degrees so your sea-facing apartment now has a desert view. some apartments were designed right out of a building (even though they had been sold) and if you need to get a solicitor, well, good luck even getting one - and then there is the legal uncertainty if the matter goes to court - and you may be trying to sue sheikh mo's cousin. the harsh climate can also mean that after a short space of time you can get a lot of structural problems (plenty where i lived in The Springs). so for me, way too much risk for the returns involved and you will most likely only end up buying something like a 100yr leasehold. that's my two-bobs worth anyway...
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