newby help

[flamespeed]

Hi

Is there anyone who can help me? I am wondering whether to buy a 1 or 2 bedroom apartment in Dubai for investment and somewhere for me to stay. Are there any areas I should stay away from? Which estate agents should I use? Or, do you think I should just arrive and then try to arrange viewings when I am there? Any help is very, very appreciated.
Thanks
Laura

 

[panchal]

Hi

Is there anyone who can help me? I am wondering whether to buy a 1 or 2 bedroom apartment in Dubai for investment and somewhere for me to stay. Are there any areas I should stay away from? Which estate agents should I use? Or, do you think I should just arrive and then try to arrange viewings when I am there? Any help is very, very appreciated.
Thanks
Laura

Hi,

You must be Mad, my advise do not buy in Dubai, lots of people have lost all their saving including me. You can buy what ever you want and the easte agent will be very happy to take you money, but be very very careful. You will not see your money again, so its up to you. Read all the comments on the forum and you should be able to make your mind up. BUT PLEASE BE VERY VERY CAREFUL who you part with your money.

 

[flamespeed]

Realy sorry to hear your experience,thanks for the advice .I wont be buying in dubai
Spain seems very much the same,
Regards
Laura

 

[rkolinko]

Hi Laura,

I suggest you get a mixed opinion on whether to buy in Dubai or not !!! Forum is of help however, you might encounter a lot of people who have lost money in Dubai, but trust me there are lot who made a lot of money. At least right now the apartments or villas have become affordable.

I personally feel there are still many good developments in Dubai, but to purchase something now you have got to take a lot of factors into consideration such as future potential/ demand vs supply in the area/ building/developer/service fees/quality/-what type of investment, long term/short term.

As for Spain, a lot of homework must be done and understanding of whats happening to Spain is important, especially the unemployment rate, Spain's bailout etc etc. All Macro economic factors !!!

I am not really an expert in investments (so please guys don't critise my opinion),however, I say this from experience as I know Dubai well and have seen rise and fall.

Either way good luck, I hope you find the right investment.

 

[flamespeed]

newbi help

Thankyou for your reply,
I agree there must be good buys with good endings,I have read some sad experiences
The spain situation is changing ,there is talk of a devalue,i think i have to hold tight for another month
Regards
Laura

 

[eyeC]

if you can afford to buy a villa at a good bargain price say $250k you will most probably make good return after 5 yrs time. you will gain from both rental income which is tax free and price appreciation.

it could go down 10% more but you can never time it exactly at the bottom.

before you buy just know what you have to pay for maintenance ,insurance ,car park ,utilities gas, cooling water,etc,master developer fees when buying/selling most information available here in this forum.

know what you have to pay for mortgage ,all other liabilities and compare it to the yearly income you assume you will be making within the next 5 yrs and see if return is acceptable to you ,most probably it is compared with other locations.

do your own research before you decide to jump on a long long journey ,if you expect to buy and sell after few weeks to make profit it is not recommended ,people forgot that property is a long term investment and not like equity you can trade them daily and thats why they lost a lot .

good luck

:elefant: