Dubai real estate $$
Anyone exploring the Dubai real estate for investment? Share why or why not it’s a good idea? Agents claim 30-40% appreciation for off plan properties and 7-8% rental yield. Plus no income tax on returns. Sounds too good to be true?
Yes, hence the question here :) but thanks for the inputs. I think the returns might be good only if the property is very close to downtown or other major touristy areas so you could get Airbnb and other tourist rental income. But overall I 100% agree with your thoughts here. The supply is endless with a lot of dependency on foreign investors.
Isn’t that realtors job?
Lot of non realtors also promote it on YouTube
Isn’t that job of people who benefit from it like people who have invested there and others
30% appreciation is BS and speculation but 6-7% yields are well within the norms. It's easy to get golden visas these days for 10 years so people don't leave during a downturn like what happened in 2015 and 2020. Supply is still short and population growing so prices should still go up or at least maintain, just not as fast as the realtors promise.
30% after 2-3 years for off plan is what they say
Yes, one thing that Dubai lacks is land.
If you are seriously thinking about exploring and getting a small property in Dubai, let's team up. I can go down to Dubai if need be. I would suggest some property in downtown or in touristy place for short term. I met a student who invested in downtown one bedroom, but rentals are amazing there and is completely managed by rental company. Another person (US realtor community) tells me that everyone is investing in new Dubai - huge margin for big projects (50 appartments and above units) I like the part where - cheating is not recommended in dubai due to strong laws No tax.
Not discouraging a team up but honestly there are way too many realtors who can assist you remotely and you don’t have to land a foot in Dubai for anything. Just transfer payment and you’re set. That’s how desperate they’re for US investment. And as you said the le is so strict that there is low risk. I can DM you a few realtors I met in the US personally who came for promotions here.
That sounds good. I will check them out if you can DM me. Is it 100% safe to invest with them?
Yeah, agents would tell anything to complete a transaction. If you believe real estate agents, I have a bridge that I could sell you.
The appreciation number is accurate only in some offplans. Generally you want to steer clear of offplan. Especially if you’re not from here and don’t understand the region. You’d be surprised how many offplans fall through and people lose money. In fact, just the other week there was a new Villa development that fell through and everyone lost their money. Now the standard secondary market, there are still some good deals but largely overpowered by a lot of shitty deals because prices have gone up hard over the last 2 years. Very tricky to make 8+% now unless, again, you know the region. My real advice to you is if you’re doing it just to have property as an asset, keep it local if you can otherwise sure get one in Dubai. It’ll make your life easier long term in the former. If you’re looking to grow your money as an investment, just go the stock market route.
Do you invest in any real estate close to where you live?
I live in Dubai. That is false. Most owners get stuck with a pile of overpriced shit.
I've made good returns on secondary market investments as market is growing rapidly and some areas have little offering like Marina. Market has slowed down a bit but I believe for short and long term investment there's nothing like UAE especially that taxation laws on capital gains and purchasing are very favorable. I'm looking now into RAK
No, I am exploring Mars
Like seriously? What’s the value add here? You wasted 2 seconds of your life writing this non sensical comment for what?
i have lot of time. And you are wasting your entire time and energy posting irrelevant question in irrelevant forum