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Allsopps
New Member
As Dubai struggles with economic disdain, and the real estate markets plummet, it is the right time to buy property in the city, or is it safer to rent? What's your opinion. :ridinghorse:
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Rahat Hussain
New Member
Hi,
From what I’ve read online I think it’s better to rent than purchase. Renting offers flexibility and safety. Developers aren’t doing too well these days.
Rahat
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shanmarsh22
New Member
Hi All, I'll be moving to Dubai next month and plan to stay for 3-4 years. I am undecided on whether to Buy or Rent. I viewed some apartments in
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James Greg
Banned
According my personal knowledge and experience I would like to recommend you the rent. In Business Bay and Dubai Marina you have chances to earn a lot but Abu Dahbi is not a save project. So, you may also invest in Discovery Gardens as well.
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kendubai
New Member
It is buy o'clock people
The Dubai property market is looking up again - The arab spring has pushed a lot of investors from the rest of the ME markets to here. You can see as a result, a lot of new projects being announced, the upswing in the markets etc.
For someone with a steady job and sturdy finances, it is today better to buy than to rent. Reasons -
1) Low interest rates on bank loans - as low as 3.99%
2) Rents are going up again, as property market looks up.
3) Property prices in established & preferred communities (Greens, Marina, JBR, Emirates Hills, Ranches, etc) have started going up - coming out of the trough and climbing up.
A downturn is not expected again soon. A buyer however has to research the prices, and purchase at a good price, and in an established community / building with maintenance.
e.g. If you buy a 1 B/R flat in international city for 200,000, you can only rent it to bachelors and should not expect much appreciation.
WHEREAS buy in Greens for 900,000 - rent for 70000 a year and sell after 2 years - I personally expect a capital appreciation of 50% i.e. a sale price of 1,500,000.
It is a great idea to fix your housing costs, since the price of everything else is going up by the week!
From personal experience - my emi today is 4,272 for a 2 bed apartment (totals to less than 52,000 pa as against going rent of 75,000). The property has appreciated by 35% in 1 year. But as yet has not touched the original price, or the price of 2008.
The Dubai property market is looking up again - The arab spring has pushed a lot of investors from the rest of the ME markets to here. You can see as a result, a lot of new projects being announced, the upswing in the markets etc.
For someone with a steady job and sturdy finances, it is today better to buy than to rent. Reasons -
1) Low interest rates on bank loans - as low as 3.99%
2) Rents are going up again, as property market looks up.
3) Property prices in established & preferred communities (Greens, Marina, JBR, Emirates Hills, Ranches, etc) have started going up - coming out of the trough and climbing up.
A downturn is not expected again soon. A buyer however has to research the prices, and purchase at a good price, and in an established community / building with maintenance.
e.g. If you buy a 1 B/R flat in international city for 200,000, you can only rent it to bachelors and should not expect much appreciation.
WHEREAS buy in Greens for 900,000 - rent for 70000 a year and sell after 2 years - I personally expect a capital appreciation of 50% i.e. a sale price of 1,500,000.
It is a great idea to fix your housing costs, since the price of everything else is going up by the week!
From personal experience - my emi today is 4,272 for a 2 bed apartment (totals to less than 52,000 pa as against going rent of 75,000). The property has appreciated by 35% in 1 year. But as yet has not touched the original price, or the price of 2008.
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Souvenir
New Member
To buy in an active place (JBR, Emirates hills, dubai marina) rather than rent.
You can even rent it if you decide to go back to your country.
You can even rent it if you decide to go back to your country.
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sarsora
New Member
Hi All,
I prefer to buy more than to rent you have JLT and JVC good price and location
I prefer to buy more than to rent you have JLT and JVC good price and location
Bayut
New Member
Dubai property market has bottomed out, that is to say that the prices will not fall any more and because of that very reason, this is the right time to invest in Dubai. There are certain areas within the city where both the prices and rents are steadily climbing. If you invest wisely, you are sure to make good profit within 4-6 years. Before investing though, bear in mind that Dubai is a long-term investment market as is the case with any other market of the world. You cannot go into this with the hopes of becoming a millionaire overnight.
And I have to agree with sarsora above that it is better to buy than to rent. JLT is the buyer friendly alternative to buying in Dubai Marina. Both of these communities are doing well in terms of prices.
And I have to agree with sarsora above that it is better to buy than to rent. JLT is the buyer friendly alternative to buying in Dubai Marina. Both of these communities are doing well in terms of prices.
