nzwalkers

I have a friend who recently started work in AD-4 months ago. He tells the same story that frequently comes up in these forums-regarding the struggle to find property to rent in AD and how he wished he had negotiated harder regarding accomm.

I am not there yet but could be before xmas

He also said that if you can buy, buy!

Example. 250,000 pounds, 2 bed apmt in AD. 30% deposit gives you a monthly mortgage(8.5%) of 1500 pounds or AED 10,500. (approx figures)

According to some of these forums the rent for a 2 bed in AD(if you could find one) could be AED 200,000( or more) or 17,000 per month!!!!. Understanding that the deposit of 75k pounds is probably the main issue why people rent, if you do have the funds, why wouldn't you buy?

Comments please... seems like a b good idea to me

Neil

arbroath_abroad

not all places offer freehold to purchase in AD

The newbuilds do but they are not ready for occupation around AD

Chesney Hawkes

Not sure about AD but in Dubai if you want to live somewhere nice, i.e. The Greens, Marina, JBR etc. and are buying a place which is 'complete' then you'd probably be looking at a minimum £300k at todays exchange rate.

I would say the cash deposit is a big put off for people though, also with a lot of developments you can't get finance from lenders.

twisty100

There is nothing to buy that is buillt and there wont be anywhere for at least two more years, and there lies the paradox. Everyone is coming to AD to build the place but there's no where for the builders to live.

Plenty of off plan to purchase and it will give you a good ROI over the next two years and also somehwere to live....

busybee2

yep there is no where to buy to live in yet, another 2 years before a lot will come on line, and then the problem with the renting will have been sorted out a little because there will be more supply. Also you have no rules and regs compared to the uk here for property, you buy off plan, the master plan will change, you buy off plan the completion will move at least a year, you buy off plan the service charges will be doubled on what you are told.

arbroath_abroad

shit my pants, i agree totally.......

lobby lou

its gonna snow xxx

busybee2

what aa actually agreeing with me, no, i must be dreaming.......................................... ............................................

Eva

'Tis no surprise, the consensus there really - as this post of BBee's is in the main-de facto.................'Tis the ifs, buts, probablys,maybe definately & the historical Quatrains you two seem to differ on

arbroath_abroad

yes the real facts(me) and the imaginary voice in the head (BB)

nzwalkers

thanks for the responses, very helpful.

Eva

whot no flypast yet???????????? Must be Ramadan timings.

Meow

Did anyone mention build quality, or lack thereof?



-

AlmostPregnant

Even more: at which point of the Real Estate curve are we? Everybody seems to agree that we're near the tip of it, therefore we risk to purchase at 100 what we *might* have trouble to resell at 80, not at 120. This scenario came to reality, we will end up with a loss comparable to paying rent for the same time (more or less, and forget about making money), but with a conspicuously larger amount of trouble...have the new rent rules been approved yet? Index and all that stuff?

twisty100

If you can you should buy in AD. You are very likely to see a return on your investment. The econmic controls that the government have put in place are sensible and provide a good anchor against your risk.

Go to www.youtube.com and type Abu Dhabi 2030.