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Total novice wanting to invest

Discussion in 'Dubai property' started by jayne29, Mar 13, 2008.

  1. jayne29

    jayne29 New Member

    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... :rolleyes:

    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
     
  2. Wannaberich

    Wannaberich New Member

    Forget Ras Al K. You can still make decent money in Dubai and if you hang onto the property long term you cant lose.
    Do your research and get to know the developments in Dubai.Spend hours on www
    skyscrapercity.dot.com and not only will you learn loads but the forum has loads of posts by actual investors and their experiences of buying into various projects.Its priceless.Remember agents will be more interested in selling you something that is good for them and not for you.Go for a known developer.Tameer,Deeya,Damac,Dubai properties to name a few.Areas to look at are Jumeriah Village and Silicon Oasis.Sports city should be looked at too.I'm assuming your buying offplan?This is how you will make the most from capital appreciation.Normally you will put 10% down then around 10% every 3 months.Do your research and make sure you know Dubai before you get anything.
     
  3. Prop Guru

    Prop Guru New Member

    Dubai & Abu Dhabi have been doing pretty well, however areas outside are cheaper and picking up as well. It really depends on the type of investment (long Term or Short term) you are looking into.
    I encourage all my clients to purchase properties with flexible payment terms. There are a few developers out there that have payment terms where you have to pay 30%-50% during construction (duration of 2 ½ years, evenly split) and the balance is due after completion and they give you 3-7 yes to pay the balance. This helps my clients out with cash flow.
    Feel free to contact our US office, if you have any questions. Please google - ggredubai
     
  4. dubailover

    dubailover New Member

    Jayne,

    Goto Welcome to incl-online, Overseas Sales, Lettings and Property Managment, click on Ras al khaimah... and you will get some information on what you need,

    then if you want someone to show you round the Island of La hoya in RAK, I can arrange that for you.

    rgds,,

    :)
     
  5. jags

    jags New Member

    rak rental market is unknown.resale market is not tried and tested.go for dubai. sport city is promising bet for long term.
     
  6. mrv

    mrv New Member

    Investment - You cannot go Wrong !

    Helllo Jayne,

    You already have a pretty good idea from the other posts as to where the action presently is. You cannot go wrong with an investment in property in UAE, however you need to know what your plans are and how quickly you might want to flip your property. Good idea to invest offplan and hold on to your investment where you will in most cases double your money if purchased in the right location and price.
    Dubai is one of the GLOBAL hot spots and there are a lot of lucrative dvelopments to choose from.
    I think the site is undergoing some changes but I liked the info before the changes
    Best of Luck in your investments
     
    Last edited by a moderator: Mar 16, 2008
  7. jayne29

    jayne29 New Member

    Hi guys

    thanks for all your replies, there seems to be so much to learn. Can somebody please explain to me what DSO is? also what is Sports City? I am now leaning more towards Dubai as opposed to RAK. IS this a good idea? i hear alot of people saying that Dubai is saturated and to move on elsewhere... seeing as i don't have much to invest im wondering if i should start elsewhere where i can buy for cheaper? If Dubai is the place to invest, where would you suggest? im looking at long term rental i think... but again im still confused and undecided!!!

    Thankyou so much
    Jayne
     
  8. Roshan

    Roshan New Member


    If it's pots of money, then it should be Dubai, in areas like DSO, Jumairah village, down town J.Ali where prices are building up but not as much as Business bay.

    Commercials tend to give better returns than residential. How about a ready property which is bank financed and where your 40K would go in as down payment.

    As "Dobuy" put it, you have to do your research. It can be fun researching properties.

    RAK is a beautiful place with nice developments on islands. These kind of investments tend to do well as a second home or if the place picks up short term rentals. The feedback on RAK is good but how the place will shape up, no one but GOD knows.

    Research is the name of the game. Start today.

    Good luck

    Roshan
     
  9. Wannaberich

    Wannaberich New Member

    Hi Jayne,hope you've been researching like I said.Skyscraper city etc.Also Dubai Chronicle gives loads of news/reports on the dubai market.Read what the investment banks say about the Dubai market.
    DSO’s website is Dubai Silicon Oasis Authority.
    "Dubai Silicon Oasis (DSO) is high-tech park, purposely built to cater to the microelectronics and semiconductor industry. The 7.2 million square meter technology park will house microelectronic and optoelectronics related enterprises, a state-of-the-art Microelectronics Innovation Center (MIC), fabrication plants, research and development centers, specialized academic institutions, and residential areas"

    Basically it's a little like Silicon Valley California.
     
  10. Roshan

    Roshan New Member


    Hey Dobuy,

    Thanks or the info. I learnt something today. As they say real estate is a constant learning process. Thanks for the sites will save them as bookmarks for future use.

    Any other sites, pls let us know.

    PS : Are u from Dubai. If so, you could probably join our Dubai chapter meeting which we intend having soon.

    Regards

    Roshan
     
  11. Wannaberich

    Wannaberich New Member

  12. Roshan

    Roshan New Member

    Prop Guru,

    Bang on, what you have posted makes total sense.

    Roshan
     
  13. Roshan

    Roshan New Member

  14. Stephendxb

    Stephendxb New Member

    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.
     
  15. realtymatching

    realtymatching New Member

    Have you considered Ajman? The property prices there are soaring almost every day. Ajman is a good long term investment. Invest now and sell after 2-3 years for a good appreciation.
     
  16. FZA

    FZA New Member

    Are there any specific areas in the UAE which have faster capital appreciation over others?

    As in very hot pre-launch prices then a big return after flipping in 6 months?
     
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