Advice re buying in dubai much appreciated
Apr 7th 2010, 7:12 pm
#46
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Re: Advice re buying in dubai much appreciated
As the building ages, the amount and cost of maintenance increases. As maintenance costs increase beyond a reasonable level, the relative capital value starts declining either due to the lack of maintenance or the excessive cost of it, until it's not worth forking out maintenance costs...no one wants to buy the apartments and no one wants to rent them....the place becomes derelict...and eventually hazardous, and eventually - demolished.
The last owner just loses out....by that stage though the property has probably been sold many times at lesser and lesser prices over the years.
That process would be over a century or so...probably be less here.
Much the same as a car in the end.
The last owner just loses out....by that stage though the property has probably been sold many times at lesser and lesser prices over the years.
That process would be over a century or so...probably be less here.
Much the same as a car in the end.
Apr 7th 2010, 7:20 pm
#47
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Re: Advice re buying in dubai much appreciated
Victorian houses become worth maintaining due to their increased capital values due location and/or the desireability of their style....they are maintained because people think it's worth it. There's a demand.
Last edited by Jeeper; Apr 7th 2010 at 7:26 pm.
Apr 7th 2010, 8:06 pm
#48
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Re: Advice re buying in dubai much appreciated
I'm I missing something...why would anybody in their right mind buy a holiday home in Dubai when there are so many other countries more beautiful with nicer weather
Apr 7th 2010, 8:48 pm
#49
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Re: Advice re buying in dubai much appreciated
I agree with Jeeper. Victorian houses are quite expensive in the uk and very well built and built to last.. They are not decreasing in price because of their age. Thats just not true.
Apr 8th 2010, 4:40 am
#50
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Re: Advice re buying in dubai much appreciated
ok i picked as an example the victorian house because obviously its older than 100 years etc. that was all. if you look in london there are a few older flats etc which are still lived in and maintained etc. another example trying to get like for like, what about the chrysler building etc.
Apr 8th 2010, 4:40 am
#51
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Re: Advice re buying in dubai much appreciated
Apr 8th 2010, 6:41 am
#52
**** it we'll do it live
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Re: Advice re buying in dubai much appreciated
and yet you still feel the need to ask
Apr 8th 2010, 7:06 am
#53
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Re: Advice re buying in dubai much appreciated
Not to mention, in places like Bali, Azores, Span, Southern France, Caribbean etc.., the location/islands/coast is unique and can't just be recreated multiple times , which is the case with Dubai's man made islands and coastal developments.
Apr 8th 2010, 8:28 am
#54
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Re: Advice re buying in dubai much appreciated
absolutely..... currently sitting beside a pool in a villa in Bali having just wandered back down the road from a cheap lunch in a great little restaurant. looking forward to coming back tomorrow? Not us!
Apr 8th 2010, 8:38 am
#55
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Re: Advice re buying in dubai much appreciated
Dubai was a place to speculate on property and make money - those days are over.
Dubai property was also a good way of laundering any money you may have chanced upon. Probably still is, if you accept the discount of a fall in property value for turning dirty money clean.
...but a 'holiday' home in Dubai?
If you think you may be working in Dubai long term, then buying may be preferential to renting - but as we have recently seen - who has that certainty? Not many.
It's back to the old ways - come here to work and make some money, have a bit of fun with your time off, and keep a light footprint, preferably with everything employer provided. If not, be prepared for the consequences if you don't set things up so you can bail out quickly.
Apr 13th 2010, 6:51 pm
#56
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Re: Advice re buying in dubai much appreciated
I hear alot of the Russian Oligarts and iranians are buying up bargains in Dubai
Apr 16th 2010, 10:13 am
#57
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Re: Advice re buying in dubai much appreciated
I don't think you are missing anything.
Dubai was a place to speculate on property and make money - those days are over.
Dubai property was also a good way of laundering any money you may have chanced upon. Probably still is, if you accept the discount of a fall in property value for turning dirty money clean.
...but a 'holiday' home in Dubai?
If you think you may be working in Dubai long term, then buying may be preferential to renting - but as we have recently seen - who has that certainty? Not many.
It's back to the old ways - come here to work and make some money, have a bit of fun with your time off, and keep a light footprint, preferably with everything employer provided. If not, be prepared for the consequences if you don't set things up so you can bail out quickly.
Dubai was a place to speculate on property and make money - those days are over.
Dubai property was also a good way of laundering any money you may have chanced upon. Probably still is, if you accept the discount of a fall in property value for turning dirty money clean.
...but a 'holiday' home in Dubai?
If you think you may be working in Dubai long term, then buying may be preferential to renting - but as we have recently seen - who has that certainty? Not many.
It's back to the old ways - come here to work and make some money, have a bit of fun with your time off, and keep a light footprint, preferably with everything employer provided. If not, be prepared for the consequences if you don't set things up so you can bail out quickly.
Apr 16th 2010, 2:31 pm
#58
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Re: Advice re buying in dubai much appreciated
Yes I agree its a very informative post..Thanks to everyone who has contributed to this discussion
