I am a property consultant in Dubai and have many fantastic investments in this market if anyone is interested.
I would like to know everyone's thoughts on investment properties in Dubai?
I am available here:
qureshi.usmana@gmail.com
Brother,
Dubai is one of the most accredited real estate markets in the world. Currently, this real estate sector is witnessing an investment upswing with various local and international investors funnelling investments here. You can also consult the following website for more details.
www.bayut.com
Usman bhai
Please eloborate the potential of dubai propery.
How much capital required to purchase Dubai property?
How to made transactions to purchase Dubai property.
What type of property Comercial or residential available in dubai.
Regards
ilyas
People who invested in Dubai from outside UAE suffered huge setback in 2008-2010 especially those who were paying in installments. The whole economy went down the drain. The bubble had burst and developers went boom!
After that things have started to pick up again and the bubble will build up again and then burst with bang once more. Dubai is a cyclical disaster zone for overseas investors.
If you have or you can set up a business in Dubai then it makes good sense to buy a residential property at the Palm and avoid rental payments. If you are there on a long term job, then again you should buy a residential apartment or villa as per affordability.
But with no income inside UAE, it is not a good investment.
@Pk1
Basically brother I am not sure where you are getting your information from. What happened in 2008 was a bubble bust, however there where several reasons for this. Most of them cause by the property developers and real estate companies buying cheap and dumping at higher prices within days.
People thought that there was real demand and the prices kept increasing. The demand was there but not as much as these companies made it out to be and through greed and illegal trading a lot of people lost a lot of money.
Now H.H. Sheikh Mohammed bin Rashid has given greater authority to the regulating bodies and they have created 20 new laws that will ensure that the investors are protected and another burst does not occur.
The driving force of this new investment in Dubai is backed by the fact that Dubai has won the rights to host the World Expo in 2020. This means that the rise in demand from the entire world to Dubai has and will continue to increase until this date.
After the World Expo in 2020 there will definitely be a correction in the price of the property market, however the new plans that are being rolled out will ensure that there is not another bust cycle.
I would recommend buying now as the prices have only just recently in the last year and a half started to increase and will continue to do so until 2020 which is when I would be considering to sell or to keep and rent out to all the millions of people that will come to Dubai for the 6 month event.
People that say that there will be another disaster zone or overseas investors will lose their money are people that really have no idea of what is happening in real life and are just listening to speculators who's job is to spread bad publicity around the world telling people to save instead of spend and make more money.
Also keep in mind Dubai is a tax free country and the economy is extremely strong being an international hub for trade and industries for Asia, Africa and Europe in particular.
Just think what other country can people go to as a substitute? Singapore? Hong Kong? These places are 3-4 times the price to do business in not including the tax. Hong Kong is the most densely populated place in the whole world. That is why Dubai is and in the future will be a safe investment.
@ usman qureshi…how much minimum amount is required for investment in a luxury apartment??
@M.Ilyas
Brother my advice to all brothers and sisters wanting to invest in Dubai to target areas like IMPZ (International Media Production Zone), Sports City, Motor City and Silicone Oasis.
I recommend these areas because they are reasonable in price starting around AED500,000 (roughly PKR14,255,000) for a studio with parking and balcony and they are easily rented out due to the high levels of demands. Average rent for a place like this is between AED40,000-AED50,000 per year(roughly PKR1,137,000-PKR1,421,000)and is going up every 6-9months by AED2000-AED5000 as the areas become more developed.
Before the crash these places where selling at around AED800,000 (just under PKR23,000,000), therefore many people especially Pakistani are investing here, it is very hard not to make money.
There are many commercial properties also going also and even though this is starting point I would be better able to assist you if I understood you needs better, that is capital expenditure, purpose, time frame, etc.
Transactions are very simple and vary from off-plan properties, to commercial properties and to traditional sale properties. I can assist you in the full process as per your requirements.
Please email me for further details and we can go from there.
Regards,
Usman.
@SAADI_AQUARIUS
My advice to all brothers and sisters wanting to invest in Dubai to target areas like IMPZ (International Media Production Zone), Sports City, Motor City and Silicone Oasis.
I recommend these areas because they are reasonable in price starting around AED500,000 (roughly PKR14,255,000) for a studio with parking and balcony and they are easily rented out due to the high levels of demands. Average rent for a place like this is between AED40,000-AED50,000 per year(roughly PKR1,137,000-PKR1,421,000)and is going up every 6-9months by AED2000-AED5000 as the areas become more developed.
These are Luxury apartments with swimming pool, tennis court, Japanese Garden, Children Play Ares and are Resort style living by DAMAC.
If you would like a brochure or more information on these types of developments please email me on:
I am able to assist and provide a solution for your needs. I have a lot of direct contacts of sellers and am dealing with a lot of the Pakistani community who are making a lot of money here in Dubai.
It is the best time to invest.
Brother, i want to know something plus i am pretty much sure it will help many here in Pakistan.
What is the fair price of a apartment in Sharjah, or anywhere in Dubai, which a Pakistani can buy and give it on rent, what are the rates and rents and pls explain which investment is good in Dubai rite now, how is the market now ?
Thanking you in anticipation.
@Nasir Khurshid
Thank you Brother for you questions, basically I can get you a vacant property in Dubai starting at AED500k which would be a fantastic investment that would not only see someone renting it throughout the year but would also bring you a big increase in value of property and yearly rental income.
My suggestion is IMPZ and you can refer to my above comments that explain in more detail. If you are coming to Dubai please contact me, I can show you first hand what is a worth while investment in your price range.
As for Sharja, it is cheaper, but in my opinion not a good place to invest if you want to make money and have the place rented all year with a high yielding investment.
I have many Pakistani and international clientele from around the world who understand the logistics of Dubai and hence would never look to Sharja or even Abu Dhabi. There is simply no comparison.
The Studios selling for AED500k are rented last year for AED40k and now are between AED45k-AED50k they where selling at AED450k.
It is basically a gold mine and with new laws in Dubai, it is safer to buy and also less chance of anything happening to the property market InshAllah.
I would definately recommend these properties but basically we could find you a place for about AED450k-AED470k that would be worth investing, anything less than this and the risk is higher.
I prefer to deal with properties that are expecting high yields and are going to not only be rented out within 2weeks but also increase in value very rapidly.
Most probably I could get someone a property for AED350k, however I cannot speak as to the quality of finishing and safety and capital increase but too much.
For my investment advice and assistance I need to be able to put a quality stamp of approval on it and give advice as if I was investing my own money.
I hope this helps, for more detailed information pls email me:
The market is on a steady increase and is anticipated to increase until the 2020 World Expo being Hosted in Dubai.
After this there is an anticipated correction in the market price, which will then maintain a stead incline once again.
New laws put in place by the government and regulated by according bodies such as RERA are ensuring that there in not another boom / bust cycle that was seen in 2008.
Faith in the market is back and the economy and business is thriving once again.
Invests now for a more financially secure tomorrow!
@Usman, As far as I know that mortgage is availble in UAE.How much down payment required and what’s the interest rate there?What documents required to get mortgage.?How much time does it take altogether for completed transaction?
Usman,
Can you please give me your number.
Thanks
Usman bhai,
Yes my info on Dubai is not the same as yours. Can you answer my 10 questions?
You have said Dubai has a super strong economy and it will not allow investors to sink again. Sorry I do not agree!
Questions and Answers:
- Did Abu Dhabi bail out Dubai in February 2009 to rescue the sinking ship of its economy? True or False?
Answer: True (The central bank for the United Arab Emirates (UAE) bought $10 billion-worth of Dubai's five-year bonds. Abu Dhabi paid for it because it would not let the second-biggest member of the UAE fail).
- In the same year in November 2009, Dubai got another $10 billion injection from the Abu Dhabi government and a couple of Abu Dhabi banks when Dubai World, a big government-owned conglomerate, entered major debt restructuring talks. True or False?
Answer True.
- A new deadline has come for Dubai to pay back the crises debt money it received from Abu Dhabi and it does not have the money to pay? True or False?
Answer: True (Dubai has to repay $10 billion in 2014 – the money that it received in the midst of the financial crisis five years ago, but the due date had to be extended because Dubai cannot pay. Now Dubai is in the final stages of another Abu Dhabi roll out: Dubai’s debt is being restructured because it cannot meet its previous deadline)
- In 2008/2009 many people were forced to dump their bank-installment cars at the airport and escape because they became unable to pay their debts. Even their real estate investments went down the toilet. True or False?
Answer: True.
- For Dubai’s economic troubles, the real estate market was the biggest factor. True or False?
Answer: True.
- Dubai’s economy is based on Commercial Tourism and the biggest component of that is prostitution? True or False?
Answer: True (Pimp mafias and hotels bring women to Dubai from all over the world, and they provide their services in hotels openly. They even meet you in the lift if you are going to your floor in the night and ask if you want to have a drink with her)
- Many wise people said those investors who are crying now because they lost money in Dubai properties faced this situation due to lack of barkat and Allah’s blessings in an economy based on prostitution.True or False?
Answer: True.
- Pakistan property investments like DHA, Bahria and Multi have given record breaking price appreciation if you look at only the last 1-2 years? True or False?
Answer: True (Even countries like UK, US and Canada don’t offer the same type of opportunity in real estate sector. Many overseas Pakistanis from these countries and the Gulf countries are addicted to Pakistan property scene and try to invest in big brands here. They can multiply their money here without any risk.)
- It is better to buy a plot in Pakistan which can be passed on to your next generations rather than to invest in dubai apartments and as you know many of these apartments are built on artificial Land on the sea. True or False??
Answer: True (Apartments have a limited life. After that they become old and insects and ugly look. There is a big cockroach problem. Then rental value drops. And your next generation cannot do anything because new investors will not pay too much for a property like that. Eventually the building will be demolished).
- In the same amount of money that you will use for buying something in Dubai, you can buy a a very lucrative commercial property in Pakistan and get income sitting at home in pakistan with your loved ones. True or False??
Answer: True (In any case, as compared to life in Pakistan, Dubai is very boring. How long you can you keep going to malls? And besides, you only get a residence visa when you buy a property in dubai. You don’t get a job. And the job market is full of Indians working in CEO and human resource positions. They don’t hire a Pakistani).
Mr. Khan,
I think you are comparing apples with oranges. The issues with debt and bailouts is not specific to Dubai. The recession in 2008 humbled the world and not just Dubai. And as far as linking property with bailouts is concerned, lets not forget Pakistan is the biggest beggar nation in the world happily handing over their citizens for a few crumbs, and there is still a property boom there.
The market in Dubai has a high beta. There is no doubt about this. This stems from the fact that 85% of the folks here are expats. In 2008 the population of Dubai fell by 10% and property prices plummeted by 50%. They have not hit their 2008 peak yet. Which means there is 6 years of missing growth that can still potentially be recovered. Property prices are up 100% in the past 3 years, so there might be a correction.
Pakistan is a great option no doubt. But Dubai is not all skeletons and tumbleweeds by any means.
Cheers,
Sir ji apna Pakistan safe hey property ki investment kay liyay. Dubai kay flats mein na zameen apni na aasmaan. Aur qeemat tou deikh. Doosri baat paraya mulk hey kabhi bhi chahein aap ko nikaal dein. Property ho ya na ho. Nikalnay key waqt aankhein maathay pey rakh laitay hein.
I am not a property dealer but was born in Dubai and now living in Qatar, I have one property in Dubai, here's the story and facts make your own judgement
Bought 1 bed in studio in 2007 for 409 K AED (currently one AED is 28.5 RS)
It went as high as 800 AED
After world wide recession it went down to 220 AED
Total I can sell for 480 AED.
During their entire time I was getting rental return (after all deduction between 6 - 8% of property value)
I did not had to run away becuase I had hold power
Also the rental return is 7-8% in AED currency so if you factor in currency devaluation the rental return is around 15% plus.
So in other word for 1 Crore investement e.g. You get 7 lack in rental return in AED) add currency devluation it can be 12 - 15 lack per year in true value
now if you are lucky, you will get captial gain also
otherwise, it will just hold or worst case fall
if it fall, and if you are on installments make sure you can pay.
otherwise best is to go cash, do not involve bank.
Currently more than 70% investment in Dubai are on cash.
Also Dubai has won Expo 2020 and Qatar has won FIFA 2022, these two factors will keep business, market and property stable or upward trending
Make your own decision.
I can also advise you on some areas, feel free to PM me.
One more thing, in Dubai go for freehold, NOT LEASEHOLD
Silicon Oasis is lease hold, so is Dubai investment park e.g.
Irfan bhai,
It is better to go for investment in pearl Qatar as compared to investment in dubai. Qatar has vast reserves of gas. It will never experience a sudden dip like Dubai inshaAllah.
And Qatar is growing faster. Population is increasing now steadily because of companies going there to get project contracts for world cup stadiums and railway works.
At the moment, rental value is low in pearl apartments as compared to palm in dubai, but after some time situation will change.
With Dubai, there is the risk of another collapse. Because they inflate their economy on artificial indicators. They are not standing on solid ground like Qatar.
But best is Pakistan if you compare value for money, and solidity of investment. In Pakistan, cities like Islamabad, Lahore, Faisalabad and Multan are growing like crazy. Now DHA is announcing its brand new project in Multan not far from Bosan Road, where already Wapda Town plots are going for 1 crore plus!
Lahore is expanding on Raiwind Road and Multan Road plus near new airport.
Islamabad zones are almost filled up and Islamabad schemes have reached near Taxila and Wah. Plus there are schemes on GT Road even after Rawat.
Million Dollar Question:
If something hits the fan again and people start to leave Dubai again as they did before, who will rent the apartment? And if people will not rent it, then who will buy it?
And Dubai does not have the kind of economic base (it does not even have oil) that can guarantee nothing will hit the fan again. It is running on commercial tourism and some business investment. If commercial tourism goes (for example if there is a major war involving Iran and gcc countries), no one will pay even pennies for dubai property.
In Pakistan, we have all seen that even during world record number of bombings in the country, prices of property kept doubling and again doubling in Islamabad, Lahore and Multan (Look at the performance of DHA, Bahria, Multi, Wapda Town, Sukh Chayn etc).
Last two years of property graph in Pakistan shows you that, Pakistan real estate stands on solid footing.
Why? Pakistanis cannot just take a flight on Fly-Dubai and escape. They have to live and die here.
But in Dubai, with any problem people just fly away to their countries. And even traffic on the roads disappears. This happened in 2008-2009.