Purchasing property in Dubai
#31
Re: Purchasing property in Dubai
I reckon I could count on one finger the number of brits caught by this and declaring it.
#32
Re: Purchasing property in Dubai
No tax at the moment. Never ever underestimate the stroke of the pen risk.
If the locals are having to do co-payment for healthcare, the expats will be taxed on their capital gains from the land. It will come, mark my words.
#33
Re: Purchasing property in Dubai
My job is to give proper and correct advice so best people are aware. I am not about to advise people to commit tax fraud.
If anyone transfers a large sum to the UK, or an offshore account, there is a good change it could be picked up and questions asked.
#37
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Thread Starter
Joined: Apr 2015
Posts: 156
Re: Purchasing property in Dubai
1. yes, Disco Gardens you can never go wrong but always a studio flat, never a one bedroom as it is not ready cash. Pick up a studio for 500-520K and try and find something which is empty so you can pick and choose your own tenant. There are some nationalities that are not given preference over others when being picked for tenants, Im sorry was that racist, why yes it was and despite me being anything but one, I hate to admit that living in a place like this and having had many bad experiences, one tends to pick and choose tenants now. Size of the studio in sq feet doesnt really matter as no one looks at that quite honestly and I made the mistake of getting the largest one available and now I have to pay extra in &*^&ing charges as they charge by the feet
2. Again, buying intelligently means listening to others who have done it before and all the people I talked to before buying said the same thing that mortgaging here is a downward slope. I am not a financially technical person so I wouldnt know how the banks play with you but off the top of my head the largest issue I would have with a mortgage is what if I want to sell it quickly? I am sure in case of a mortgage that wouldnt be possible within 4-5 days right? Anyway, why mortgage it? Just take a loan and pay that off
2. Again, buying intelligently means listening to others who have done it before and all the people I talked to before buying said the same thing that mortgaging here is a downward slope. I am not a financially technical person so I wouldnt know how the banks play with you but off the top of my head the largest issue I would have with a mortgage is what if I want to sell it quickly? I am sure in case of a mortgage that wouldnt be possible within 4-5 days right? Anyway, why mortgage it? Just take a loan and pay that off
Would you purchase another property there?
#38
Forum Regular
Joined: Apr 2008
Posts: 164
Re: Purchasing property in Dubai
I found Andrew Hallams' books helpful: https://www.amazon.co.uk/Global-Expa...dp/1119020980/
His investment strategy is nearly %100 passive (pick 3 or 4 ETFs and simply track global markets and bonds longterm with perhaps annual rebalancing that can be done by anyone.) He explains the process very clearly and his thinking for why this will likely outperform any active investing approaches.)
The books take you from first principles so no background in finance is needed to understand the concepts. I see that he has some (free) talks in Abu Dhabi coming up: www.andrewhallam.com
His investment strategy is nearly %100 passive (pick 3 or 4 ETFs and simply track global markets and bonds longterm with perhaps annual rebalancing that can be done by anyone.) He explains the process very clearly and his thinking for why this will likely outperform any active investing approaches.)
The books take you from first principles so no background in finance is needed to understand the concepts. I see that he has some (free) talks in Abu Dhabi coming up: www.andrewhallam.com
#39
Re: Purchasing property in Dubai
but will there be enough gains on any investment in that area because of the exBo...not sure anymore
so the answer is no, I wont further invest here
If you are based out of the UK, then listen to what these guys are telling you, buy in the UK for little gains and more safety, the trend here will only go down in my opinion
#40
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Joined: Sep 2009
Location: Abu Dhabi
Posts: 1,805
Re: Purchasing property in Dubai
I found Andrew Hallams' books helpful: https://www.amazon.co.uk/Global-Expa...dp/1119020980/
His investment strategy is nearly %100 passive (pick 3 or 4 ETFs and simply track global markets and bonds longterm with perhaps annual rebalancing that can be done by anyone.) He explains the process very clearly and his thinking for why this will likely outperform any active investing approaches.)
The books take you from first principles so no background in finance is needed to understand the concepts. I see that he has some (free) talks in Abu Dhabi coming up: www.andrewhallam.com
His investment strategy is nearly %100 passive (pick 3 or 4 ETFs and simply track global markets and bonds longterm with perhaps annual rebalancing that can be done by anyone.) He explains the process very clearly and his thinking for why this will likely outperform any active investing approaches.)
The books take you from first principles so no background in finance is needed to understand the concepts. I see that he has some (free) talks in Abu Dhabi coming up: www.andrewhallam.com
#41
BE Forum Addict
Joined: Jan 2011
Location: Dubai
Posts: 3,467
Re: Purchasing property in Dubai
A year ago if you had asked me this question I would have said anywhere in Dubai Investment park area as the 'exBo 2020' location is just down the road from there, which really doesnt matter much to anyone living there but I was told that someone will wave a magic wand and a new metro station will magically appear there before the expo starts. Cheap commute is always a good idea to invest close to. But now I am not so sure. The expo will happen, of that I am sure, will it cause all the fiscal problems to go away....ofcourse yanni!!!
but will there be enough gains on any investment in that area because of the exBo...not sure anymore
so the answer is no, I wont further invest here
If you are based out of the UK, then listen to what these guys are telling you, buy in the UK for little gains and more safety, the trend here will only go down in my opinion
but will there be enough gains on any investment in that area because of the exBo...not sure anymore
so the answer is no, I wont further invest here
If you are based out of the UK, then listen to what these guys are telling you, buy in the UK for little gains and more safety, the trend here will only go down in my opinion
#42
Forum Regular
Thread Starter
Joined: Apr 2015
Posts: 156
Re: Purchasing property in Dubai
A year ago if you had asked me this question I would have said anywhere in Dubai Investment park area as the 'exBo 2020' location is just down the road from there, which really doesnt matter much to anyone living there but I was told that someone will wave a magic wand and a new metro station will magically appear there before the expo starts. Cheap commute is always a good idea to invest close to. But now I am not so sure. The expo will happen, of that I am sure, will it cause all the fiscal problems to go away....ofcourse yanni!!!
but will there be enough gains on any investment in that area because of the exBo...not sure anymore
so the answer is no, I wont further invest here
If you are based out of the UK, then listen to what these guys are telling you, buy in the UK for little gains and more safety, the trend here will only go down in my opinion
but will there be enough gains on any investment in that area because of the exBo...not sure anymore
so the answer is no, I wont further invest here
If you are based out of the UK, then listen to what these guys are telling you, buy in the UK for little gains and more safety, the trend here will only go down in my opinion
Think based on everyone's feedback, I will probably invest in UK instead of Dubai.
I have been considering investing in Canada (Toronto) as its a place I may consider moving at some point in my life. But prices have increase drastically and need some correction to occur before I invest.
#43
Forum Regular
Thread Starter
Joined: Apr 2015
Posts: 156
Re: Purchasing property in Dubai
I found Andrew Hallams' books helpful: https://www.amazon.co.uk/Global-Expa...dp/1119020980/
His investment strategy is nearly %100 passive (pick 3 or 4 ETFs and simply track global markets and bonds longterm with perhaps annual rebalancing that can be done by anyone.) He explains the process very clearly and his thinking for why this will likely outperform any active investing approaches.)
The books take you from first principles so no background in finance is needed to understand the concepts. I see that he has some (free) talks in Abu Dhabi coming up: www.andrewhallam.com
His investment strategy is nearly %100 passive (pick 3 or 4 ETFs and simply track global markets and bonds longterm with perhaps annual rebalancing that can be done by anyone.) He explains the process very clearly and his thinking for why this will likely outperform any active investing approaches.)
The books take you from first principles so no background in finance is needed to understand the concepts. I see that he has some (free) talks in Abu Dhabi coming up: www.andrewhallam.com