phirang

Hi, I'm debating whether or not to dump some of my cash into property in dubai. I may use it once in a while to entertain or acclimate to a different time-zone

I'm not wary of freeholds, as that's how it works in UK and many other places. What I am wary of, though, is bakseesh, refractory management staff, and the rental market: is there a demand for rental properties in dubai, and are the property management companies worth a damn?

I'd appreicate any insight you can give me-preferably before i lose my shirt.

Bob

Can't really help, but there's plenty of demand for property out there I know, and rental is a good market.

and welcome to the site

johnbuoy

Demand far outweighs availability, I have put 4 people in the last week in contact with Landlords who have rooms available.

I am thinking of buying myself with a view to sub-letting out the rooms.

Where were you thinking of investing, what area's?

phirang

Bob: cheers!

john: I was looking at the palm island, although some of the stuff was a bit pricey; i really haven't decided specifically where to buy something, but i always get worried when putting my money abroad, especially in a mercurial arab country where one can have a kafka-esque experience with the bureaucrats. my friends in real estate have gone to court so often here in the US that they're personal friends with the clerks and judges at the district courthouse, and so i'm wary of how a pasty disbeliever such as i will fair when invariably a dispute arises, inshallah NOT with a well-connected local(I live in US now).

Basically, i'm concerned about my legal options in case someone doesnt pay rent, if the mortgage co tries to screw me, if there's adverse possession, breach of contract with mgmt co, etc. Thanks for the info about the demand, though: a surplus of housing supply worried me, esp with all the dubai hype promulgated these days.

btw, the following is completely irrelevant but absolutely hilarious:

http://news.bbc.co.uk/2/hi/americas/4174519.stm

johnbuoy

How did you guess why i left the Military!!

There are plenty of agencies around who should!! be able to draw up a good contract, I havn't heard of anyone not fulfilling there obligations but that doesn't mean it doesn't happen. I know of one Sth African who has a villa which he rents then sublets out 9 of the rooms!!

Have a look at this google search which may put you in contact with letting agencies here.

http://www.google.com/search?sourcei...Agencies+Dubai

Norm_uk

I'm in the commericial end of the real estate business in Dubai and know for a fact the demand for property to lease and buy and never been stronger. My advice would be to stick to one of the reputable companies, such as Better Homes, Asteco etc (won't tell you who I work for!), be sure you are clear with your requirements and read and re-read the small print.

Right now Emaar are playing games with the maintenance fees on their properties so you might want to sit back for a while or invest in something smaller in case you get a nasty surprise a few years down the road.

Norm

Anya4Dubai

Hi Norm,

I heard not just Emaar, but also others will soon follow suit. Has this had any effect on demand, or is too soon to tell?

I know of people having bought 11-12 properties at a time (work for one of the prop finance companies), so this should hopefully dampen any speculative buying?

Anya