Is it to late to invest in Dubai

[PyramidJames]

I am looking to invest in Dubai, I am purely looking to make money on the property not use it for a holiday home, I am considering a 1/2 bed apartment, is there still money to be made if I buy now or have I missed the boat???.

I have read some other threads where there seems to be mixed views, some say get in now there’s still good money to be made, some say the bubbles about to burst, I would really appreciate some good advice from somebody who knows the market I am very concerned about making the wrong investment.


Thank you

James

[fahdmohammed]

Hi there,

You have definitely not missed the boat, as there are lots more to catch! Mail me back for detailed information and i will be able to help you out!

[PyramidJames]

i have about 50k to invest on plan can you suggest where i start

[Property Developer]

Have you looked at the Cube devlopment near Sport City

[fahdmohammed]

the first thing you need to look at the location and who the developer is! Although they have been approved by the Dubai Government, there are a lot of newbie cowboy developers out there. The largest developers are Emaar, Nakheel, Dubai Holding and Damac Properties. I wouldn't recommend Nakheel though, they have delivered rubbish properties and their handover of the palm is 2 years off! The cube seems like a good invest ment, but I have been looking at the develoment since its launch and prices havent gone up much and units are still available direct from the developer (I wonder why)! You might need to raise your budget to avail of a good investment as these properties advertised everywhere for 50K-60K are just absolute rubbish!

[Property Developer]

Fahdmohammed, do you invest in the UK too?

[PyramidJames]

how much would i need for the first payment??? what is the total once its built? also is it easy to rent in Dubai once the property is complete

[fahdmohammed]

i do have a couple of investments here, but i'm not too keen on investing in the UK anymore as i make more returns in dubai! why?

[Go West]

Originally Posted by PyramidJames

how much would i need for the first payment??? what is the total once its built? also is it easy to rent in Dubai once the property is complete

How much would you need for your first payment is relative to the price and payment plan of the unit you bought.
When You buy a property in Dubai you will have to pay the purchase price in a schedule like payments.
The most common structure will be 10%-15% as down payment and than 10% every three monthes until completion and handover of the unit. Although you can find other easier payment plans like pay now 10%-20% the same in six monthes and the rest on completion
If you bought into an existing building some of the developers offer a finance structure of 5-7 years for you to pay off the balance.
Dubai property is as buoyant as ever and I strongly believe t is a good time to invest in Dubai as now it is very clear to see how it is heading forward.
Ok you won't make a killing like the investors who invested in Dubai 3-5 years ago but you still going to make a good profit for yourself. Capital growth in Dubai is massive especially if you buy off- the -plan properties where you can expect anywhere from 20%-40% (sometimes even more) capital growth p/a.
Not every property is a good property and not every area is a good area to invest in.
Be careful of just going with anyone who offers you a property, there are real estate agents out there that will try and sale you anything promising false promises.
There are also lots of real estate agents that will help you and provide you with good property as well. You are doing the right thing by being on this forum asking for advise
I'm not a real estate agent and I’m not working for any individual developer.
I have lots of experience with the Dubai property market (through being a buyers agent) and always happy to help with guidance and advice, please feel free to ask me any question you want to know an answer.
Yours
Erez

[PyramidJames]

Thank you for that, can you recommend a agent i can trust.