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Seriously considering buying property in Dubai - a few questions

Discussion in 'Dubai property' started by Chaz_The_Sun, Jan 25, 2009.

  1. Chaz_The_Sun

    Chaz_The_Sun New Member

    Hi

    Great forum you have here! Just as a quick introduction, I've worked hard all my life in the building trade to the point where I've just about managed to put myself and family in a comfortable financial position and sell up before the recession struck.

    Now that I have time on my hands, I'd like to spend a little more time abroad and Dubai is a place that really fascinates me. Yes, I'm looking at this from an investment perspective but first and foremost I want to but a property somewhere I feel I can happily spend lots of time during the miserable British winter.

    However, I'm totally new to all this so was hoping I might find answers to a few questions here:

    1. Are there any places online where I can get an idea of how far my budget will go? I'd prefer a house / villa to an apartment but I just don't know if this is feasible.

    2. Any good estate agents / developers I should speak to? Maybe it's paranoia, but wherever there's affluence, crooks don't seem to be far away

    3. Not a nice question, but one I feel I need to ask - is there any elevated risk of terrorism in Dubai that I should be concerned about?

    4. I have friends who have bought property in Spain and there were a number of property dealer's who paid for or heavily subsidised their trip for viewings. Are there any companies in Dubai who offer similar deals?

    Please excuse my ignorance re: some of the above, I am in the very early stages of looking into this.

    Many thanks

    Chaz!
     
  2. ALIYA

    ALIYA New Member

    Hi Chaz the Sun

    I work directly with master developers in Dubai who are too established to want to run off with your money. If you send your contact details to me at sales@citycard.ae I will get a consultant to give you a call who will answer all your concerns direct and let you know of suitable availabilities. Properties range from studios to villas and a very good discount can be negotiated on your behalf with payment terms that are spread to suit your needs.

    Regards
    Aliya

     
  3. Jacque

    Jacque New Member

    Investment




    Hi,

    I am a proffesional real estate broker in Dubai (RERA licensed) and working with one of the biggest brokerage company in the world (Century 21)

    We have a long list of ready properties (apartments, villas, townhouse, penthouse, etc.) and under construction properties.

    Please send me an email to jacque(at)century21gulfgroup(dot)ae to start communication and find out what are the best options to prepare for your arrival.

    Thank You,

    Regards
     
  4. Hussein Awadh

    Hussein Awadh New Member

    Dubai is the place for holidays; especially during the winters and summers. There's no better weather.

    I work directly for DAMAC Properties Co. LLC. If you'd like to move on from there do send me a mail at Hussein.Awadh[at]damacgroup[dot]com or gimmy a ring on 00971 50 107 6587 we promote and provide Quality, Dreams and Luxury Living.

    1. No Developer will ever post their prices online. (As far as I know)

    2. So far the top 3 developers, Emaar, Nakheel, DAMAC. (Probably the only ones?)

    Yes I'm marketing DAMAC when I say this, but DAMAC has not cancelled any projects and will NOT cancel any projects.

    3. To answer the question of Terrorism; No. I Absolutely can't see them coming to bomb their own people. There's no risk of any terrorism at all.

    4. I don't think any company is willing to pay for viewing trips etc; but it's worth a check. I'll find out for you.
     
  5. Design Architect

    Design Architect New Member

    Hi Chaz,

    My company is specialized in Emaar properties (one of few real developers in this market). Their projects are occupying only best locations around Dubai. One of Emaar's projects is Burj Dubai Tall Tower (biggest man made structure in World).

    If you find this interesting to you, please do give us a call
    Let us be your private property consultants.

    Regards
    Dimitry

    Dimitrije Simonovic
    Relationship Manager
    First Gulf Real Estate
    First Gulf real estate
    Grosvenor House Commercial Tower
    Suite 106, P.O.Box: 125919, Dubai - UAE
    Tel: +971 4 3298777
    Fax:+971 4 3298666
    Email: info@firstgulfgroup.com

    p.s. I'm going on business trip soon, so if I'm not reachable - mention my name to one of my colleges - Chamse +971 50 708 7474

    All the best
     
  6. Wannaberich

    Wannaberich New Member

    Unlike these other people I am not an agent looking out for my own self-interests.
    If I were you I would contact Sherwood Properties,Landmark Properties,Better Homes.
    These are the three main agents in Dubai.
    The good news is that at the moment you can pick up a bargain.
    The bad news is the money you will save because someone is desperate to sell will be cancelled out because of the very weak pound.
     
  7. Design Architect

    Design Architect New Member

    Hi DoBuy,

    I just wanted to comment on your previous post.
    First I don't see the point in you advertising other companies that you are not working for. Those companies again have their agents who are working in their "self-interest".
    Second, all agents presented here are certified from RERA and they payed to become that. In other words they chose to be real estate agents and invested in their career.
    Third, when someone is trained professional and offer someone else a service, he usually get paid for it. I don't quite follow where you're coming from, but if you are working for free, that is your problem.
    And fourth - if you are not looking at your self interest in anything you do, which interest are you looking after???????

    All the luck
    Dimitry
     
  8. Wannaberich

    Wannaberich New Member

    D/A
    The reason I am 'advertsing'companies I do not work for is because unlike you,I have no self-interests here.I am not an agent and do not live in Dubai.I am merely trying to help Chaz with his enquiry and point him in the right direction.As I have dealt with those 3 companies I am happy to recommend them.As I have never dealt with any of the agents on here then
    I cannot recommend any.

    The fact your company specialises in Emaar properties means theres a huge amount of non-Emaar properties out there you cannot offer Chaz.
     
  9. PropGuy

    PropGuy New Member

    I'm real estate investor, but sometimes I do close real estate deals between different parties. I recommend DoBuy's post #6 ^^. In addition to that, from my experience I found Eta Star, Emaar, Nahkeel, IFA Resorts and Hotels properties to be of good quality so far but they are expensive. That would depend from project to project too.
     
  10. ALIYA

    ALIYA New Member

    I can get you properties direct from developers with excellent discounts and payment terms. I also have properties from private investors which are distress sales with some at below the original prices, see a sample of some of the properties which are with me which I have posted under a new thread starter in this forum. By the way, many more units have been added since then.

    If you are interested in any please let me know.

    Aliya
     
  11. Chaz_The_Sun

    Chaz_The_Sun New Member

    Thanks for your replies guys. I'll have a look at the companies listed above individually and come back to you should I wish to proceed.

    Thanks.
     
  12. chaumi

    chaumi New Member

    I don't post very often, in fact not sure if i ever had...but had to answer this...

    Chaz You have got to be nuts! Stay away from this desperate godforsaken place, read all the other threads/posts if you haven't already.
     
  13. naxal

    naxal New Member

    To Chaz

    ^^^^^^^^
    To continue with what Chaumi said ,I also repeat that not to leap in this Dubai Mess .Many buyers including me have lost money in Dubai Real Estate and I've also read your other post (http://www.propertyforum.com/forum/91675-post2.html) which is the same situation as many investors here at this moment .

    As for Better Homes ,dont fall for big names .I was victimised as they were the 'Driving Force' behind an unethical developer 'Schon Properties' .
     
    Last edited: Jan 26, 2009
  14. Chaz_The_Sun

    Chaz_The_Sun New Member

    Yep - the more I look into this prospect the more nervous I get. I'm not going to let a few bad experiences put me off per sé, however I'm certainly going to be a lot more cautious before going ahead with ANYTHING, should I go ahead at all.

    I may just take a couple of holiday's first, before I look at committing to anything.
     
  15. naxal

    naxal New Member

    Chaz , I will agree with you on this point that not all developers are dishonest BUT remember during these tough times ,a very few are building on time and likewise very few fulfill their promises ! :)

    All the best .
     
  16. Property Pimp

    Property Pimp New Member


    Chaz,

    I recommend you simply do your market research, due diligence and weigh the pros and cons in how it relates to your particular circumstance and needs as with any real estate investment anywhere.

    The opinions and discussions you witnessed here on this forum are very useful to a certain extent to give you a general flavour..., however I feel it's better to approach this important decision logically and with an open mind.


    Regards
     
  17. Pietman0_0

    Pietman0_0 New Member

    Chaz,

    I get nervous on your behalf just by reading a couple of the eager agents trying to Market their Projects. I really wonder how much is reliable.

    One member on this forum, Hussein Awadh, Mentioned that DAMAC have and will not cancel any of their projects. Dolphin Towers and Water's edge (Business Bay) are two projects by DAMAC properties that have been cancelled. Business Bay Burjside Boulevard (Another DAMAC project) is currently on Hold.

    I'm not saying to stay away from properties in Dubai. On the contrary.... I think if you have the cash to spare and you are thinking of longer term investing in Property then you are at the right place. Properties in Dubai is still under valued when comparing other top cities. Its just the volatility of the property market and laws in Dubai that makes investors loose confidence

    Just do your due dilligence when dealing with Developers or agents. My advice to you would be to try and buy ready properties or very close to completion properties. Also consult a solisitor. This is something many investors in UAE have overlooked and i believe a reputable property lawyer will give you better ease of mind.

    Get all the facts straight before signing anything. Dont be fooled by advertisements and promises.

    Good luck mate
     
  18. Jacque

    Jacque New Member

    Hi DoBuy,

    If you have any available properties to rent/sale you can also list with us!
    Send details to jacque@century21gulfgroup.ae so that you could recommend next time aight?

    Actually there are alot of big real estate brokers in Dubai. It is not fair to just mention those. Especially these times, "unqualified" brokers are out of the market. One of the reason why there are alot of mishaps in dealing properties with agents before is that everyone became a "Real Estate Agent" for the fat commission.

    My 50 cents worth thought...
     
  19. Investoman_uae

    Investoman_uae New Member

    Holy macarony. . . look at those desperate agents lool... i gota agree with chaumi here, you gota be nuts to advertise "i want to buy a property" right now in Dubai. Are you asking to be flooded with property offers or what?

    Whatever you do, dont put your email here.... I once did and I am gettin 10s of emails from desperate agents on a daily basis.... tryin to sell me air space in Dubai.

    Listen, the most obvious way forward right now is to do your research, do ur due diligence.... and ask alot of people if its worth it... and go ahead.

    I believe some prices have dropped to what is acceptable and reasonable level. But you have to really be careful before you spend your cash. I am not discouraging you.... we need brave people like you to get the market goin again.... but I also genuinely advice you to do your research first.

    Good luck, you can find plenty of bargains.

    Inv.
     
  20. Design Architect

    Design Architect New Member

    Suggestions

    Hi Chaz,

    I will give you couple of insights into this market, to help you, and keep matters as simple as possible.

    - If you want to invest your money, by far safest investment that you can make is real estate
    - Investing in Dubai, rather then anywhere in the world will get you best returns on your investment
    - Go for finished projects and only big developers Emaar, Nakheer or Dubai Property as you can get you returns on rental quite fast
    - Buy now when everyone is scared and panicking as there is a big chance you can get unbelievable bargains (original or below original prices)
    - If you decide to use my suggestions, you would see 10% ROI on rentals only, and capital gain is something that you are going to get as a bonus!

    This is a short version - stop here :). Buy and enjoy!

    Now - a bit of history. Beginning of 2006 people were becoming rich dealing with property in Dubai, while "others" were watching. "Others" never decided to make an investment as they were always afraid that something would happen. Finally 2.5 years of watching others getting rich they finally decided to invest. They bought high, and they bought in wrong time. They bought when others were leaving market. And that's how you hear all this horror stories around. Dubai is this or that....

    When you are investing money - are you 100% sure that you are going to make profit??? Of course, we all know the answer. He who dears wins. We all know that one as well.

    This moment in history of Dubai is giving everybody (or people who have cash and missed first wave) ONE MORE CHANCE to start and to buy at low prices. As you know, life is never giving that chances again, but Dubai is. Crisis is going to pass, and market will pick up again. Why? Because that's the way world economy is working. People will hurl to live in Dubai, and you will have everything all over again. People would get rich, and "others" will just sit and watch.

    If you have any doubts - or you just need an advice, please do give me a call. I will save you time and money, and you don't need pay anything. At the end of the day, you would be the one deciding whether to believe what I say, or to go somewhere else for different op opinion. That's what property consultants are all about. Everybody who thinks and act differently is wrong.

    Wish you all the luck
    Dimitry

    Dimitrije Simonovic
    Relationship Manager
    First Gulf Real Estate
    First Gulf real estate
    Grosvenor House Commercial Tower
    Suite 106, P.O.Box: 125919, Dubai - UAE
    Tel: +971 4 3298777
    Fax:+971 4 3298666
    Email: info@firstgulfgroup.com
     
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