Amir - Bahrain

Hi All:

Does any one have or know of any one, with experience of the property market in Dubai ? I am a Brit Expat, resident in Bahrain looking to buy a 1-2 bed apt in Dubai for rent ( or R&R) - what is the market like ?

Regards

Calgarian

This is a part of thread I have on this form under "helpfull links".

To Purchase a real Estate
Following is the email address of a real estate agent( thanks to miss helpfull)

[email protected]
Her name is Sonia
Let me know if you have any other question

Khan

Face81

The property market in Dubai is still a very new scene and most apt's being sold would have u sat in the midst of a construction site and traffic hell for about 5- 10 yrs. 1-2 bed apt's can set u back about AED 300K to AED 400K. Renting on the other hand would set u back as little as AED 40K for 1 bed (At The Greens) or as much as AED 65K for a 2 bed on SZR. These are annual rent prices.

Check out the follwing sites for more info:

To purchase property:
www.emaar.com
http://www.nakheel.com/nakheelweb/
http://www.up.ae/up/

To rent property:
www.bhomes.com
www.astecoproperty.com

Hope this helps u to get some idea of the Dubai property scene.

-Face81

Amir - Bahrain

Thanks to all who have responded - your replies have been very helpful.

I suppose my main concern is that as an expatriate, we are only limited to the new developments happening near the PALM etc. With a bewildering array of construction projects, almost all coming up together, will there not be a glut and thus dip in rentals etc ?

Also, this rule about expats owning property in Dubai, is this likely to be repelled in a few years, leaving non-resident owners with nothing ?

Regards

Amir

MCA27

I sent you a private message....have a look as I can answer some of your questions

Martin

Face81

Thats may be true, especially now they announced the 3rd Palm Island:
www.face81.5u.com/palmdeira.jpg
Remember to zoom in to be able to read it.

The law for 100% ownership is still up in the air.......its being debated on by the higher ups in our beloved capital, AD. Rumour has it that they will keep the law in limbo and never really say yes or no. So ur best bet is a 99yr lease, which isnt half bad. I mean can u imagine the state of the property in 100yrs? :scared: And no, they can never go back on their word.....it would literally destroy Dubai in the World arena.

Property prices started off high and have remained at their present level ever since. I dont c a drop or rise i nany of the prices for the short term. If anything, they may rise once people start taking posession of their homes in the New Dubai area, which is also South of Old Dubai.

-Face81