StublueKPL

that is a another possibility I have thought about but would need to see how much we would be losing with outgoings v income from rental. again, all depends on what rents/prices are in 3 years or so. (btw, 3 years is just a figure, we could be here in 3,4,5,6? who knows?

commander

being the key phrase...

Blue Cat

move to a building that has one owner and you are sorted

StublueKPL

so....... does anyone know about the ranches or Jumeirah Heights?

Millhouse

yeh. don't buy there.

weasel decentral

Is that accurate? 1% yield? **** that who would ever buy except for capital appreciation (of houses that fall apart!)

StublueKPL

I do wonder where the 1% yield figure comes from to be honest?? (im not saying you are wrong, just wonder where the figures originate)

commander

I live in the ranches 3 bed in Saheel (the posh area) You are welcome to come round for a nosey anytime.

commander

you keep on saying Jumeirah Heights, are you getting confused with Victory Heights which is where the Els Golf Course is? or is there a Jumeriah Heights?

Millhouse

Actually 1% is what it was for flats. I'm sure it's a bit better now, and probbaly a bit better for villas. My house here gives around 4.5% gross (current price - 3.5% on what he paid) before outages and service charges.

The mortage costs are higher than the gross yield so your equity is receiving nothing (or paying some interest)

I have several friends who (still) have to sub the mortgage payments each month (ex. service charges) on flats. This is very low yield stuff.

You can get 5% in London, where interest rates are lower. Why invest here for somewhere between 1-4% when the debt costs are so high? Madness to me.

Good luck. If you haven't done these sums at this stage, I would advise you don't jump in

Millhouse

Of course people buy on those low yields. Those based in Afghanistan, Pakistan, Syria, Egypt -- where there is significant risk of conviscation of funds and who can pay cash. If I was in that position, I'd take 1% over -50%.

Dubai is a cash game. If you need debt, it won't work.

mikewot

Google is your friend http://tdim.nakheel.com/en/project/j...h-heights.html

Blue Cat

Nakheel

weasel decentral

You can get 10% yield fairly easily on property in Egypt and can risk a couple of hundred thousand dollars. Which I would prefer to do rather than the sums involved buying in Dubai for 1% yield.

Millhouse

indeed... but also no mortgage market deeper than 3 years and a currency depreciating at 10% per annum (thus giving you something terrible in a decent currency).

that said, I'd probably go for Egypt before Dubai.