Should I invest in a property in Dubai?

Question

I'm thinking about buying a property in Dubai, Has anyone else done this? If so is there any problems that you came across, ie: The pro's and cons.

Answer 1

Dubai is very much a building site which will continue for the next twenty years.
There are too many developments going up too quickly which will lead to a saturation of the property market.

I would look to invest a smaller amount or purchase multiple units in Southern Italy an area called Calabria, it is an unspoilt wonderful area with the developers just starting to develop the land now. I have purchased two properties here off plan one in Isca and one in Bianco.
I used a company called New Shores International Real Estate.
They have a lot of developments all over and they can arrange the inspections trips etc. Good luck.

Answer 2

This is very risky and you need to think carefully before proceeding. What are your reasons for investing - do you want to live there or is it just speculation?
The goverment in UAE has built up Dubai as a rival to other financial centres such as London and New York. This is a gamble which may or may not pay off. Many middle eastern countries will continue to use London and New York stock exchanges rather than switching to Dubai as it is more established.

Many financial workers may not want to move to Dubai so it may fail because of lack of qualified workers. There is no limit of land because it is just desert around Dubai, so supply constraints of other property markets is not present.

Also consider the enormous amount of existing building - who is going to fill those properties?

If there is a war against Iran in the next few years - which is a real possibility, then Dubai will lose a lot of business.

Of course on the other side of the coin - the place may boom and you will gain from investing at beginning!

At the end of the day it is a gamble, but a very risky one if your sole aim is speculation. If you want to live there it is a different question.

Answer 3

its dangerous now. they are over building and the collapse is a matter of time. if you are an individual (and not a developer) buying for speculation in an overbuilt market is a mistake. you missed the boat on that one. if you are looking to speculate in a volatile market you better invest in either very cheep property (that cant really go down) or blue chip (new york, London, etc) where there will always be a market even if it goes down a bit.
Look at Miami market. Dubai is next.

Answer 4

Are you a Dubai citizen? Are you making plans to pass there? If no longer, possessing property and being a "long distance" landlord can open you to an entire host of difficulty. save on with property which you would be able to pass check out and function inspected formerly you purchase. and then considering the fact which you're close you may save a watch on the valuables.

Answer 5

Yes, you can surely invest in Dubai real estate. Set up a new business in Dubai and you will find lots of opportunities to grow your business in Dubai. Many companies are their to help you in better management of your business in Dubai.

Answer 6

hey why would you want to invest in a place like Dubai where unless you are not an expat which you are not for sure is a waste of all your savings.this government is trying very hard to choke all its expats from saving every penny that they are earning not sitting at home but with sheer hard work.hey its your choice but right now just pray that they don't chase every expat off their seat in the name of nationalizing.

Answer 7

very risky

Answer 8

no