Quote:
Originally Posted by jayne29
Hi there,
As the title says i'm a complete novice who is looking to invest in a property abroad, i have done some research and am thinking of Ras Al Khaimah... I have not completely committed myself to buying in this area, i am open to views and thoughts... (come to the right place then hey?) 
Can anybody give me some advice please? on the area as a whole, or even other areas that are better investments... and also what i need to be thinking about when i buy somewhere, as i said this will be my first property purchase abroad so i know nothing! i may be going it alone, or there may be another person who will be buying it with me, depending on how attractive it sounds to him! between us we will have about 40k to put down, (and 20k if i go it alone) and we're looking to rent it out long term, and obviously make pots of money in the process... 
I know im asking the million dollar question in asking some of the above but i just want to find out what peoples thoughts are, and if this is going to be a good place to purchase property
I have been speaking to a company called Select property too, has anybody had any experience with these?...
Thanks for any help you can give me! its much appreicated 
Jayne |
Jayne,
People will tend to say you cannot go wrong in the Dubai property market...well you can. I have lived and worked here for many years and I am also an avid property investor. I have made very good investments and that has been due to research. I could spend hours telling you about the merits of each development but obviously that is not practical, so here are the main pointers:
Make sure the developer is reputable
Make sure the project has an Escrow account (very important)
Consider the amenities of the development
Consider transport links now and for the future. ( many people forget the metro is being expanded and a property near a station can go up in value as much as 25%)
Check the maintenance fees. For example, in and around the Business bay area these fees can be as high as Dhs 30 per sqft. other locations can be Dhs 8 per sqft.
Check the orientation of the property. An apartment facing due west will get a sunset view.
Buy something with a view, whether it is to rent, to live in or just as an investment to sell on, it
must differentiate itself from all the others that will come on to the market.
Don't let me put you off..on the contrary, the markets are very good in most of the UAE, I just happen to know Dubai extremely well. If you want some further advise on where to buy at present hen drop me a PM and I will send you some info.