Quote:
Originally Posted by achoudry
Hi Everyone,
I am new to this forum and must admit that it’s very useful portal for anyone considering investing abroad.
As you would appreciate, with so much info on the net and in the media it's very difficult to know where and when one should invest in Dubai. such is the dilemma, I am facing.
The reason for my correspondence is to get your opinion on what your views are in terms of where/what particular developments I should consider.
As for what I am looking for and what my expectations are:
1) Looking for 1 bed apartment, preferably off plan, as it’s long term investment that in interested in. However if there are development that are due to be completed in 2009 or round about that time, then yes I would consider those too.
2) I am looking to purchase the property with the view to sell it later on if and when the right opportunity arises. In the interim, rent the property and obtain steady income to cover the mortgage which I am planning to get from UK.
3) As for budget, it’s about 50k – Maximum deposit that I can at present afford is around 15-20%.
Any help in this regard would be really useful.
Cheers
Ahsan
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Ahsan,
Welcome to the forum. Get down to basics which is :
Do your own research. Start with identifying potential builders, compare their prices. Confirm if the developer is offering nett or gross area. Going on other peoples word might or may not bounce back.
Stick to good developers as you are sure to get a good end product and better value. Better returns while selling.
Dubai sports city, Jumairah village ( JVS ), Motorcity ( Unionproperties ), parts of Dubai land.
Some of the good developers that come to my mind are Al Faraa properties, ETA star, Union properties, sobha developers, Mazaya ( Que point ), Remraam ( Mizin ). Be in touch with them and they will inform you of upcoming projects.
Research is very important.
If you are planning to take amortgage from U.K. Can you get an interest only mortgage where you pay only the interest and the principal after 10 or whatever decided by the bank. Your investment tend to be positive in this way as you are paying only the interest portion and when the time comes for paying back principal, it works to peanuts because in most cases your property would have appreciated much more.
Good luck.
Roshan