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Looking to buy a villa in Dubai

Looking to buy a villa in Dubai

Old Jan 19th 2008, 6:39 pm
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Default Looking to buy a villa in Dubai

Hi - Am moving to Dubai in March 08 from London, UK after being offered a job - v excited !! I've been lurking on the forum for a week or two and have read some excellent advice on here - Thanks to you all !!

I have a mortgage approved and am looking to buy ASAP - i have a budget of approx £1.5m dhs for a a minimum 2 bed villa/house (after spending the last 6 years in a flat - a garden of some kind is a priority !). Location not much of an Issue (work base from home) nor is living in "trendy" areas but will be spending a lot of worktime around the Jumeriah beach area by all accounts so want to avoid as much time as poss stuck in traffic !

Just started to browse on the web but can anyone advise if you think my budget is too short or do you think it will be ok ?

TIA.

Last edited by zabone; Jan 19th 2008 at 6:42 pm.
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Old Jan 19th 2008, 6:46 pm
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Default Re: Looking to buy a villa in Dubai

1.5m on its own won't get you anything. You'll need an extra 200k or so. Bottom end for 2-bed villas that are ready to move into is about 1.7m. The extra costs over and above the actual purchase price of the property can be hefty, too.

Last edited by Eeyore; Jan 19th 2008 at 6:48 pm.
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Old Jan 19th 2008, 6:53 pm
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Default Re: Looking to buy a villa in Dubai

Originally Posted by zabone View Post
Hi - Am moving to Dubai in March 08 from London, UK after being offered a job - v excited !! I've been lurking on the forum for a week or two and have read some excellent advice on here - Thanks to you all !!

I have a mortgage approved and am looking to buy ASAP - i have a budget of approx £1.5m dhs for a a minimum 2 bed villa/house (after spending the last 6 years in a flat - a garden of some kind is a priority !). Location not much of an Issue (work base from home) nor is living in "trendy" areas but will be spending a lot of worktime around the Jumeriah beach area by all accounts so want to avoid as much time as poss stuck in traffic !

Just started to browse on the web but can anyone advise if you think my budget is too short or do you think it will be ok ?

TIA.
have a couple of English housemates who both work in property sales. send me a PM (you will need 5 posts before you can do this) and I'll put them in touch with you so they can give you advice on how much you will have to fork out.
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Old Jan 19th 2008, 6:56 pm
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Default Re: Looking to buy a villa in Dubai

Originally Posted by GarethR View Post
1.5m on its own won't get you anything. You'll need an extra 200k or so. Bottom end for 2-bed villas that are ready to move into is about 1.7m. The extra costs over and above the actual purchase price of the property can be hefty, too.


Ta ra .......oh and welcome to BE.Fun place what dya say Zabone?


Bad news Gareth does truthspeak.
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Old Jan 19th 2008, 7:00 pm
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Default Re: Looking to buy a villa in Dubai

Looks like the Springs area is commonplace for the villa's ?? - Google maps does not seem to have it on its maps... Anyone know where in Dubai the Springs is ?

thxs 2 you both - so 1st target is 5 posts...

Hopefully the fun will really start in March Eva !!

Last edited by zabone; Jan 19th 2008 at 7:01 pm. Reason: Eva's post
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Old Jan 19th 2008, 7:08 pm
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Default Re: Looking to buy a villa in Dubai

Originally Posted by zabone View Post
Looks like the Springs area is commonplace for the villa's ?? - Google maps does not seem to have it on its maps... Anyone know where in Dubai the Springs is ?

thxs 2 you both - so 1st target is 5 posts...

Hopefully the fun will really start in March Eva !!
try this map http://www.arabianview.com/map-pdf/Dubai_Internet.pdf
find the Palm Jumeirah then go down past the Montgomerie and Emirates Hills and you'll come to the Springs
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Old Jan 19th 2008, 7:13 pm
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Default Re: Looking to buy a villa in Dubai

Originally Posted by zabone View Post
Looks like the Springs area is commonplace for the villa's ??
The Springs, Lakes and Meadows are currently the main areas where expats can buy villas. However, the Lakes and the Meadows are going to be out of your price range, and to be honest, you're probably going to need at least 2m in order to buy anything at all (that's including deposit and all associated fees).

Anyone know where in Dubai the Springs is ?
Yes, thanks

It's there in Google Maps - click here. It's not actually named as "The Springs"; you want to be looking at the areas around the streets named as "1st Rd" and "2nd Rd".

Last edited by Eeyore; Jan 19th 2008 at 7:16 pm.
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Old Jan 19th 2008, 7:18 pm
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Default Re: Looking to buy a villa in Dubai

Originally Posted by Inselaffen View Post
try this map http://www.arabianview.com/map-pdf/Dubai_Internet.pdf
find the Palm Jumeirah then go down past the Montgomerie and Emirates Hills and you'll come to the Springs
thxs for the Map !
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Old Jan 19th 2008, 7:19 pm
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Default Re: Looking to buy a villa in Dubai

Originally Posted by GarethR View Post
The Springs, Lakes and Meadows are currently the main areas where expats can buy villas. However, the Lakes and the Meadows are going to be out of your price range, and to be honest, you're probably going to need at least 2m in order to buy anything at all (that's including deposit and all associated fees).


Yes, thanks

It's there in Google Maps - click here. It's not actually named as "The Springs"; you want to be looking at the areas around the streets named as "1st Rd" and "2nd Rd".

Thxs - Yes I am getting the feeling the budget needs a swift re-evaluation !!!
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Old Jan 19th 2008, 7:24 pm
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Default Re: Looking to buy a villa in Dubai

Thxs for the maps - Looks like the budget is going to get a swift re-evaluation !!!
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Old Jan 20th 2008, 3:52 am
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Default Re: Looking to buy a villa in Dubai

Welcome good luck with your house hunt, you might be better to look at an apartment in the Marina on the figures you are mentioning how did you get a mortgage approved prior to finding a property?
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Old Jan 20th 2008, 7:08 am
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Default Re: Looking to buy a villa in Dubai

approved in principle via Barclays - I've been with them for over 20 years...
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Old Jan 20th 2008, 7:13 am
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Default Re: Looking to buy a villa in Dubai

Originally Posted by zabone View Post
approved in principle via Barclays - I've been with them for over 20 years...
even in the Apartheid days!
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Old Jan 20th 2008, 7:19 am
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Default Re: Looking to buy a villa in Dubai

guilty as charged -:embaressed_smile: In my defence I was a 10 year old scrout with some gambling winnings having my first venture into finance when opening the account....

those were the days....
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Old Jan 20th 2008, 8:05 am
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Default Re: Looking to buy a villa in Dubai

Originally Posted by zabone View Post
approved in principle via Barclays - I've been with them for over 20 years...
You can get AIP without a property. Most lenders in Dubai will do that as few agents will take a buyer seriously without finance approval.

Some concerns regarding Barclays & their admin standards. Do you know if the rate they are offereing etc is competitive?

I'd also caution you about buyng a place as soon as you set foot in Dubai. How do you know if you will like it and want to stay? I'd get a feel for the place before committing yourself. The property market here is not always what you may have heard. (see property threads passim)
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