# Buying apartments



## Still Waiting... (Jul 21, 2014)

Hi Folks,

Any of you good people out there have experience of buying a flat in this country please?

I am being given a generous (?) allowance and wondered if it would cover a mortgage on a flat as opposed to renting/leasing one?

It strikes as a possible investment opportunity and there must be other expats who have considered doing the same.

Would love to know your thoughts please?

Thanks

SW


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## TallyHo (Aug 21, 2011)

Depends on the allowance.

Some companies will not allow the housing allowance to be used for buying property. This can be the case if you have a lump sum housing allowance and / or the company rents the property in their name.

Buying property is always a gamble, but especially here. You need to factor in the buying expenses plus the interest on your mortgage, which is often adjustable to suit the bank's needs, and very high maintenance fees. Plus owning a property here ties you to the UAE. What do you do if you need to leave suddenly? 

I've been here long enough to watch property prices (and rents) soar before a spectacular collapse, possibly the most spectacular in the world, and watch the prices recover and go up, and now they seem to be softening. Who knows what will happen next? Oil is dropping dramatically, Russia is heading for an economic mess, there's still very unstable regions in the Middle East blah blah blah and all these will have an impact on the Dubai market, which tends to be investor driven rather than user driven.

I saw this graphic over the weekend:

Moving in and out of Dubai and Abu Dhabi - graphic | The National

It's interesting because due to the sharp rise in rents over the past year, more people moved out of most of the popular areas than moved in. This obviously can't continue without a sharp correction in rents, which I think is overdue (and will be paralleled by a decline in property prices).

Do you have money to gamble away? Or are you in a position to buy for the long run (10+ years?).



Still Waiting... said:


> Hi Folks,
> 
> Any of you good people out there have experience of buying a flat in this country please?
> 
> ...


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## SirReg (Sep 8, 2014)

Just go and put the money on a horse. Less risky.


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## twowheelsgood (Feb 21, 2013)

I believe there's a minimum % downpayment for buying property. Sufficiently big to mean that your employers payment is not really the issue.

If you haven't got a large lump of capital to invest, its not going to be an issue as you won't even have the option.


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## Stevesolar (Dec 21, 2012)

twowheelsgood said:


> I believe there's a minimum % downpayment for buying property. Sufficiently big to mean that your employers payment is not really the issue.
> 
> If you haven't got a large lump of capital to invest, its not going to be an issue as you won't even have the option.


Hi,
Expats can only get a 75% mortgage in UAE.
Cheers
Steve


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## Mustii (Jul 19, 2014)

Stevesolar said:


> Hi,
> Expats can only get a 75% mortgage in UAE.
> Cheers
> Steve


Yeah you will only get 75%, so you need 25% deposit, plus 4% housing tax and then 2% Agency fee unless you buying directly from the seller, then probably some adhoc costs here and there.. so you are looking at 31% of the property value at least.

If you can afford to loose a lot of the 31% maybe even all of it, then it makes sense to buy rather than rent, if not then don't. 

I wouldn't say it is gambling to buy here, but I would use the same concept with don't gamble with money you cannot afford to loose.


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## Still Waiting... (Jul 21, 2014)

Hi Folks,

Thanks for your advice - renting it is then!

Cheers,

SW


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## 737265 (Dec 11, 2014)

Hi,

I would like to mention 2 important stuff,
1. first of all be aware of some scams. there are some unstarted projects out there but the companies are selling the units. if you like to buy one try to visit the project site and get some information regarding their previous projects. 

2. buying a house in Dubai is the smartest decision and the best investment right now. I'm sure because of the World Expo 2020 the prices will increase soon.


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## Blewyn (Feb 18, 2010)

Hmm...but where's the sweet spot ? I'm looking for

- high certainty of continued long-term rental if I have to leave the country, so a good commutable location
- a degree of limited supply of the property type, ie. a place with something of a unique appeal, so no identikit apartments on the edge of town
- good facilities i.e. a proper pool and peaceful shared area safe to walk around in
- preferably a house with garden and carport or such


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## twowheelsgood (Feb 21, 2013)

Blewyn,

It's clear you haven't been in Dubai long if think you will not get identikit properties.

Entire estates come in kit form, a few types and then replicate as much as space allows.

Whole apartment blocks - same.


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## Blewyn (Feb 18, 2010)

Twowheelsgood,

Been visiting Dubai on and off for 10 years.

My question was about where to find a property that is NOT an identikit house or apartment block. Something in limited supply due to location or some other desirable aspect. Some of the older, smaller compounds in Jumeirah, for example, or maybe some new development well placed for commute.

Pls don't reply unless you have some constructive, helpful advice.

Cheers

Blewyn


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## twowheelsgood (Feb 21, 2013)

Merry Christmas.

What if what you want doesn't exist ? You have zero chance of buying a large unique property here as the Emiratis own them and are pretty unlikely to sell to you given your attitude to anyone who apparently doesn't do as you tell them.

After 10 years coming here I thought you would have learned some manners.

Try Dubizzle and being more polite.


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## BedouGirl (Sep 15, 2011)

Blewyn said:


> Twowheelsgood, Been visiting Dubai on and off for 10 years. My question was about where to find a property that is NOT an identikit house or apartment block. Something in limited supply due to location or some other desirable aspect. Some of the older, smaller compounds in Jumeirah, for example, or maybe some new development well placed for commute. Pls don't reply unless you have some constructive, helpful advice. Cheers Blewyn



Only nationals of UAE and other GCC states can own properties in areas such as Jumeirah.


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## Blewyn (Feb 18, 2010)

So anyway, where does everyone think is the sweet spot, looking for some exclusive appeal ?


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## Blewyn (Feb 18, 2010)

twowheelsgood said:


> After 10 years coming here I thought you would have learned some manners.


My response was the best your unhelpful and rude response deserved. You want politeness ? Be polite yourself. Now please be quiet in case someone actually wants to reply to my question.


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## The Rascal (Aug 6, 2014)

Blewyn said:


> So anyway, where does everyone think is the sweet spot, looking for some exclusive appeal ?


Not many places, Emirate's Hills is nice though expensive, Meadows, Springs, Lakes are all pretty much identikit Truman Show-Ville.

The newer developments overlooking the Golf Courses can be a bit different too, but for the price of one of those I'd rather buy a Country Estate in Sussex.

Or a whole county in Wales...


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## TallyHo (Aug 21, 2011)

Rather surprising you've been coming to Dubai on and off for ten years and never cued on that expats can only own in freehold areas such as the Marina or Downtown or any of the identikit master planned housing estates on the outskirts of the city. Whatever you buy will be identikit. 

Between your lack of knowledge despite ten years of visiting the UAE and your very charming manners, you're probably the perfect candidate to invest in the property market here. I have a few agents I can introduce you to. You don't mind that they're primarily based in Pakistan or India and only handle transactions through unverified wire transfers? 



Blewyn said:


> Twowheelsgood,
> 
> Been visiting Dubai on and off for 10 years.
> 
> ...


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## Blewyn (Feb 18, 2010)

TallyHo said:


> Rather surprising you've been coming to Dubai on and off for ten years and never cued on that expats can only own in freehold areas such as the Marina or Downtown or any of the identikit master planned housing estates on the outskirts of the city. Whatever you buy will be identikit.


Just returning to ME after 2 years away. I don't make assumptions, and have never seriously looked at buying in Dubai before. Therefore, best to ask the questions. You never know what you might find out. Unless you know it all already, of course.



> Between your lack of knowledge despite ten years of visiting the UAE and your very charming manners, you're probably the perfect candidate to invest in the property market here. I have a few agents I can introduce you to. You don't mind that they're primarily based in Pakistan or India and only handle transactions through unverified wire transfers?


Well done. Do you feel good now ? My lack of knowledge is precisely why I ask questions. Do please go lecture someone else on some other area of your no doubt extensive knowledge and expertise.


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## BedouGirl (Sep 15, 2011)

Please can I remind everyone to be 'nice' to one another.


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## SirReg (Sep 8, 2014)

I was going to give a very reasoned argument as to why it's the ultimate folly to buy property here at this time. But Blewyn has been so rude to people that all I will say is: "Go for it."


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## BedouGirl (Sep 15, 2011)

SirReg said:


> I was going to give a very reasoned argument as to why it's the ultimate folly to buy property here at this time. But Blewyn has been so rude to people that all I will say is: "Go for it."


Can we all agree to play 'nice', otherwise I will have no option but to close the thread


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## Blewyn (Feb 18, 2010)

Lord make me thankful for small mercies. (in reply to SirReg)


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## P3ter (Apr 1, 2014)

Check with one of the reputable real estate agents... I think they will be able to provide you with the needed information. I can recommend you Hunt & Harris Real Estate : Welcome to our website


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## Mr Rossi (May 16, 2009)

To Blewyn, as mentioned the more individual properties are in traditional areas where only GCC nationals or folk with special pardons/gifts from the government can buy.

In the areas that expats can buy it's quite surprising how units differ the further up the scale you go eg The Meadows, The Palm, parts of Arabian Ranches etc. However you are still under the auspice of a developer and all that entails. 

If you're looking for something a bit more unique there are properties on golf courses and Desert Palm, for example, has a number of low rise quality villas associated to the horse stables. These tend to come at premium though and are quite scarce.


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## Blewyn (Feb 18, 2010)

Thanks Mr Rossi, much appreciated.


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