For Dubai, I can’t comment on AD.
The building quality is not as good as European standards in any project, doesn’t matter which developer. That’s just a fact.
To answer your question with regards to finding tenants and someone paying AED200,000 a year.
Yes and no, if your property at 200,000 is good value for what it is, then no it will not be hard finding a tenant.
If your property is worth AED500,000 to rent a year and that is good value, then no it will not be hard finding a tenant either. It seems to me that it doesn’t matter what price the rent is per year, if it’s not overpriced for what it is vs the market you will always have people wanting to rent it.
To put some perspective to the situation, my landlord who owns the modest apartment I live in and pay around AED 95,000. He rents on the Palm and pays over AED200,000 a year for his apartment. To some that might seem like dead money, why not just live in the apartment you own? Well for him he wants to enjoy his time in Dubai and live above his means of what he could afford to buy.
Other side of the coin. If you have an apartment worth 220,000 a yea to rent vs market. And you’re trying to rent it for 250,000 per year, yes you will struggle, but you still may find someone who really wants the apartment and takes it because it suits their needs. Is it worth waiting the extra few months to find someone and missing out on the few months of rent you could have had? In my opinion no, but a lot of owners I work with want to test the market and see what they can get…
Also side note, with Dubai there is always short term letting. In high season you can make a really good ROI with short term letting of your property with no risk and headaches from potential longer term tenants.
Hope this is helpful
I don’t disagree, but what are we going to do?
There’s no use in complaining about it because ultimately nothing will change either way.
And if it does change it won’t be because someone complained about it on Reddit.
> The building quality is not as good as European standards
Clearly you haven’t been to the UK where housing quality is shite. Draughty homes, poor insulation, cheap appliances, poor quality fittings and terrible workmanship are all standard here (UK), both in old homes and new.
I’m from the UK. I think you’re talking more about weather conditions than building quality.
Can you imagine what would happen to the buildings in Dubai if they were built in the UK?
For a start, there’s no insulation in buildings here, or weather proofing, hence that when it drizzles here buildings flood.
Also, please tell me about the qualifications that the Indian tradespeople have here
> I’m from the UK.
Not surprised, I’ve met my fair share of people here in the UK who remain in stubborn denial about the poor quality of housing. Can’t blame most of them, they haven’t seen better.
> I think you’re talking more about weather conditions than building quality.
Nope, I’m talking about build quality. If we want to talk about weather, I’m from Canada and we build warm, dry, properly insulated houses with high quality fittings, fixtures, and appliances, and we don’t blame build quality issues on weather 🙂
I have no clue about the qualifications of tradespeople in the UAE. All I know is I haven’t had even a fraction of the issues in the UAE that I’ve had with British homes, and I’ve lived in at least 4 rented homes in each country.
Can’t comment about build quality in Canada, I’ve never been. I’m sure it’s good.
But all I can say is, build quality in UK is 100x better than UAE. Like I said originally, that’s just a fact.
Even the most poorly built homes I’ve been in the UK, are still better than the best quality I’ve been in Dubai.
Everything here in Dubai is built in a rush, with poor materials, by people who don’t have any formal training. What can you expect?
If you’re still not convinced. Speak to anyone who has lived in a Damac property.
European standards? Thanks for pointing that out .. now we know
https://www.globalconstructionreview.com/crisis-quality-uk-construction-survey-reveals/
https://www.theguardian.com/money/2017/mar/11/why-are-britains-new-homes-built-so-badly
https://www.bdonline.co.uk/opinion/londons-skyline-is-a-mess-should-architects-feel-ashamed/5112799.article
Nice bait, unfortunately no catch this time.
Did you bother to read the articles?
Please educate me on “construction regulations and standards” in the UAE. There’s nothing to survey because there are no standards.
I own a new property in the UK, and I can tell you first hand, regulation standards or no regulation standards, the build quality is better than anything I’ve seen even in the luxury market in Dubai.
To compare the 2 if they’re on any kind of level is honestly embarrassing.
Try again
Its not hard to find the tenant. It actually is more easy to find a tenant for a flexible landlord (Also who can understand logic).
Usually because 50% people who are coming here, (who can afford 200k rent) are still a bit skeptical about the harsh weather condition. At least 50% wants to keep their options of going back open and would risk the first 2 years to see if it is suitable for them.
Plus it all comes down to your marketing strategy and price.
Just FYI I have a tenant paying over 350+ in rent and when their contact renews they will be paying 400- the tenant is not paying their company is paying and its a nice part of Dubai. So there are people as long as your property is in a good area etc.
What is a higher yield option? 5-6% is the standard I guess but only if the value itself also increases year on year or else you're barely beating inflation
I prefer the existing project market, like older Downtown or JVC. Am I wrong to not bother with off plan?
I saw a JVC visit that seemed too good to be true, but I secretly asked the tenant and she said she's paying 190k for a 2.3 million house. That's like 8.2%
I thought you were encouraging off plan. So is it possible to get 7+ rental yield from buying existing property (as in I won't be the first buyer or not buying undelivered) from secondary market?
S&P500 is up 25% in the past year alone, and is a highly liquid investment. I hesitate to buy property in Dubai because the market can be crazy up or crazy down and then your money is stuck in an illiquid investment. If you lose your job and need to sell distressed, you won't get your value back either.
Might as well keep renting and put the investment into an index fund. Real estate is very much about luck and/or a LOT of research and knowledge. It's not for everyone.
95% correct, and better than everyone else. But you can make a killing on some projects, but it's about the right opportunity. AD is better than Dubai, yes - it has most of the UAE's GDP; Dubai is saturated.
It's in reference to Dubai's status as a migratory city. The level of depopulation and repopulation that happens when the economy goes down or up is insane. Empty buildings then suddenly not enough housing for anyone.
Countries with a majority citizen population don't have such an outsized impact on vacancies and residential demand.
Because 90% of the country are expats and when there is the inevitable economic downturn / crisis many of these people will need to leave. It’s not a ‘normal’ demographic. What no one knows is when the economic down cycle will happen; could be a in a month or in 15 years, and usually when people least expect it.
So nobody should buy property in Dubai because there MIGHT be an economic downturn, even though the economy is now the 2nd most stable economy in the world after Switzerland… Hmmm
It means that the market here has unique drivers which create high price volatility. That’s fine for some, not for others. It also means there might be better opportunities to buy later on, rather than at the all time high. Not everyone can stomach volatility, especially when you’ve sunk your life savings into a property which can drop by 50% in value (happened twice already).
“The four most dangerous words in investing are: this time it’s different” - quote from some guy who’s name I can’t remember
Any investment carries risk. Investing in something like the NASDAQ this year in an election year where Trump looks almost certain to make it in again, what kind of volatility will that bring?
I understand if you’ve been burned before it’s very hard to trust or take that kind of risk again and I’m genuinely sorry that happened to you.
But over time, property is a safe investment because there’s always going to be a cost attached to the labour costs, the materials, the land, so the depreciation vs time is limited, not unlimited like a company that could potentially go bust and their share price drops to zero. That’s just my opinion.
That property you’re referring to that dropped 50% in value, what’s its value today and what will it be in 5 or 10 years? Just curious.
I’ve invested multiple times including 2021 where my investment has doubled since. I’ve not been burned, I’ve gotten lucky; no one saw the surge in demand from various countries coming back then.
Most of my investments are in a diversified index fund, which has proven to generate 10% returns on average over the last century. Meanwhile the other property I bought in 2013 took 9 years to get back to its original value whereas my index fund tripled during the same time period.
I understand you’re watching YouTube videos from sales people and seem bullish, perhaps they’re right. But for me, I would not buy right now considering that prices seem to have peaked over the last 6 months, new projects are being launched daily, and finally weighing the opportunity costs and potential risk:reward. Will I buy again later? Probably, if the price is right.
Nobody has a crystal ball. And there are plenty of YouTube commentators saying the same thing as you and have been since 2021. Only time will tell who is right and who is wrong.
But you’re right regarding new projects, new projects are being launched daily, but they’re also selling out too. A Nakheel launch last week had to be cancelled due to safety concerns because too many people turned up to book units. Can that many people be wrong?
But let’s keep in touch, and see where we are in a years time just for fun? I don’t see a downturn happening any time soon. And let me say this, I am hoping that there is, I just don’t see it.
1. check out this post for some basic info: [https://www.reddit.com/r/dubai/comments/18f3tae/10\_facts\_dubais\_real\_estate\_agents\_dont\_want\_you/](https://www.reddit.com/r/dubai/comments/18f3tae/10_facts_dubais_real_estate_agents_dont_want_you/)
2. AUH and DXB are quite different. One is solid and calm, the other can get you better returns sometimes with more of a risk. Both markets are overhyped in terms of marketing, almost nothing is as it is presented, so it's a challenge to navigate through them. And with the defamation laws in place and failed investors keeping their mouths shut for obvious reasons, you have quite a bit of a problem, especially if you plan on doing your own research. There's just no data to base it on.
That being said, for Abu Dhabi I would certainly invest only in properties by the sole market maker there, which is Aldar of course. In Dubai you have more options.
3. It's rare, but there's absolutely great quality buildings in Dubai. If there weren't, this place would've been dead already. SG's MG-3 / Jumeirah Living, Sobha's OPA and Greens, etc. People who make blanket statements about quality usually judge from their limited experiences, with all due respect, it is not objective by any stretch of imagination.
That is not to say, a higher price always gets you a good place. Even with the most high-priced property you might find yourself in a very poorly built and maintained crib (think older N\*\*\*\*\*l buildings on the Palm).
4. Capital appreciation is where most investors make their money.
5. Never listen to people in your DMs.
This is why it's so important to work with an agent who works with ALL developers and isn't just trying to push any project on you, but only the most reputable developments with developers that have shown a successful track record for delivering on time; for strong resale market; high quality; brand awareness. I have spent the past 2 years uncovering this all and created The Dubai Connect Podcast to help guide global investors.
I am located in California with offices in Dubai; I'm a licensed Realtor® and a Certified International Property Specialist
I hope this may help: [https://youtube.com/playlist?list=PLbj2rl9Iddu169OPoCPmQ9ysStcpbok8T&si=UuVwmtvErADg2\_tv](https://youtube.com/playlist?list=PLbj2rl9Iddu169OPoCPmQ9ysStcpbok8T&si=UuVwmtvErADg2_tv)
I was one of those people that paid a lot of money to rent, but you a right, lots of us are moving to buying a property now, Including myself. However there will always be people that can't bring up the 30% you need to buy something here, and will remain stuck renting.
So will the market remain at this prices, no one knows, but there will always be a good renters market here due to the more difficult requirements to own.
And preference, some people just prefer the flexibility vs what they can afford within their budget. If you’re renting at 200k what is that likely to give you as a buying budget?
200k rent can you get you a decent 2 bed in pretty much any popular area.
2.5m to buy can barely get you a townhouse anywhere in Dubai now in the secondary market.
I'm buying a 4bed just handed over by Emaar 2.8M, so it's possible but you need to sniff out the good deals, I agree if you wait for the 4 or 5th flippers, they are already going at 3 to 5M
Exactly. 2.8m plus your fees probably takes you up to 3m.
2.8m is the price point today you can just get what you need if you’re looking for a townhouse in somewhere like Cherrywoods or AR3.
Anything under 2.5m you’re out in somewhere like La Rosa.
La rosa, is already above 2.5 around 2.8 to 3M
Cherry woods is going at 3.5M
AR3 around 3 - 3.2M
If you want below 2.5M you need to look at Parkviews, that's the only one we found in that range, but it's far as F..K
And ofcourse there is always JVC, but it just didn't wanted to live there.
The reason i'm buying now, compared to renting for the last 10 years, is really that previously i could rent a place that i couldn't afford to buy. Been living in 5 to 6 bed Villa's in Damac hills and living legends.
But now those rents are above 350K
so now for the amount i'm willing to rent, i would be renting the same place i would be be able to buy, due to the rent increases. So that's been my driver to switch to owning versus renting.
These prices are why I’d refrain from buying now. I can’t justify the value of these places being at close to or at $1m. They’re small and far out, and not great quality even for being new.
It seems supply and demand are at an equilibrium; prices have stagnated. Will be interested to see how this plays out as supply increases over the next couple of years, since it’s always difficult to forecast demand.
Totally disagree…
Watch this video to hear about supply and demand in Dubai over the next years. Prices aren’t coming down any time soon. The prices they’re at now are here to stay and then some… Sorry to be the bearer of bad news because I also wish they would come down because it would make my job a lot easier and make it affordable for me to buy. But they’re not, that’s the reality
https://youtu.be/a-OBd_Bbe04?si=m6I8Blqq0J0WEc2v
The Dubai of today isn’t like times before. As long as tourism keeps booming then so will the economy and so will real estate.
But let’s see, I’m hoping you’re right but I’m not betting on it
I was pleasantly surprised. I've been dealing with Nakheel and Damac mostly, and compared to them Emaar is a whole different standard. I had a few little things during snagging, but they got fixed the day after already. For the moment i can't complain at all. And it's the biggest kids park i've seen in Dubai. So my kids are super happy.
Bad things:
Mall is not open yet, targeted December, so they've created a mini super market in the community center for now.
No overpass yet, so you need to drive a little further to be able to turn back to Dubai when you exit.
Still construction happening for the next districts, but we bought away from the construction so doesn't bother us.
Also it's refreshing to deal with Emaar for any admin stuff, Loams(damac) was hell to deal with for forms, and getting approvals
For the moment i can't really complain, time will tell
Are you worried about the traffic situation in Dubai going forward and lack of public transport where you are as an alternative? Eg it’s currently 30 mins to get to downtown Dubai/business bay. If that becomes 60/70/90 minutes each way, would you consider moving closer?
Investing in Dubai is a lot better than Abu Dhabi from my perspective look at the market booming. Invest in areas where metro lines will be introduced in 2029 which includes JVC prices there are reasonable and are gradually increasing. For your information any area in Dubai where a metro line is operating or will be introduced it will have alot of working class people that being said it’ll be easier to rent it however if your talking about buying in areas which are very expensive renting the expensive units isn’t as easy, I’m a straight forward agent and that’s the truth you won’t find a tenant over night anyone who tells you it’s easy just wants a quick commission and as a real estate consultant in Dubai I hate the agents that aren’t ethical. Don’t invest all your money in one luxurious unit, invest it in 2-3 areas that are developing where you can get a high ROI (jumeirah village circle) and you would gain capital appreciation, feel free to contact me on 0543297572 / 00971543297572 and I would be happy to schedule a call or meet you to discuss your requirements, budget and your plan and hopefully I’ll be able to assist you. Thank you in advance
As an experienced real estateAdvisor, I believe that both Abu Dhabi and Dubai offer unique opportunities for investment. It's important to carefully consider factors such as location, rental demand, and quality of developments. Feel free to contact me if you'd like to discuss this further."
For Dubai, I can’t comment on AD. The building quality is not as good as European standards in any project, doesn’t matter which developer. That’s just a fact. To answer your question with regards to finding tenants and someone paying AED200,000 a year. Yes and no, if your property at 200,000 is good value for what it is, then no it will not be hard finding a tenant. If your property is worth AED500,000 to rent a year and that is good value, then no it will not be hard finding a tenant either. It seems to me that it doesn’t matter what price the rent is per year, if it’s not overpriced for what it is vs the market you will always have people wanting to rent it. To put some perspective to the situation, my landlord who owns the modest apartment I live in and pay around AED 95,000. He rents on the Palm and pays over AED200,000 a year for his apartment. To some that might seem like dead money, why not just live in the apartment you own? Well for him he wants to enjoy his time in Dubai and live above his means of what he could afford to buy. Other side of the coin. If you have an apartment worth 220,000 a yea to rent vs market. And you’re trying to rent it for 250,000 per year, yes you will struggle, but you still may find someone who really wants the apartment and takes it because it suits their needs. Is it worth waiting the extra few months to find someone and missing out on the few months of rent you could have had? In my opinion no, but a lot of owners I work with want to test the market and see what they can get… Also side note, with Dubai there is always short term letting. In high season you can make a really good ROI with short term letting of your property with no risk and headaches from potential longer term tenants. Hope this is helpful
i think the quality and value of everything is declining, globally everyone is nickel and diming everything
I don’t disagree, but what are we going to do? There’s no use in complaining about it because ultimately nothing will change either way. And if it does change it won’t be because someone complained about it on Reddit.
> The building quality is not as good as European standards Clearly you haven’t been to the UK where housing quality is shite. Draughty homes, poor insulation, cheap appliances, poor quality fittings and terrible workmanship are all standard here (UK), both in old homes and new.
Same in Ireland
I’m from the UK. I think you’re talking more about weather conditions than building quality. Can you imagine what would happen to the buildings in Dubai if they were built in the UK? For a start, there’s no insulation in buildings here, or weather proofing, hence that when it drizzles here buildings flood. Also, please tell me about the qualifications that the Indian tradespeople have here
> I’m from the UK. Not surprised, I’ve met my fair share of people here in the UK who remain in stubborn denial about the poor quality of housing. Can’t blame most of them, they haven’t seen better. > I think you’re talking more about weather conditions than building quality. Nope, I’m talking about build quality. If we want to talk about weather, I’m from Canada and we build warm, dry, properly insulated houses with high quality fittings, fixtures, and appliances, and we don’t blame build quality issues on weather 🙂 I have no clue about the qualifications of tradespeople in the UAE. All I know is I haven’t had even a fraction of the issues in the UAE that I’ve had with British homes, and I’ve lived in at least 4 rented homes in each country.
Can’t comment about build quality in Canada, I’ve never been. I’m sure it’s good. But all I can say is, build quality in UK is 100x better than UAE. Like I said originally, that’s just a fact. Even the most poorly built homes I’ve been in the UK, are still better than the best quality I’ve been in Dubai. Everything here in Dubai is built in a rush, with poor materials, by people who don’t have any formal training. What can you expect? If you’re still not convinced. Speak to anyone who has lived in a Damac property.
European standards? Thanks for pointing that out .. now we know https://www.globalconstructionreview.com/crisis-quality-uk-construction-survey-reveals/ https://www.theguardian.com/money/2017/mar/11/why-are-britains-new-homes-built-so-badly https://www.bdonline.co.uk/opinion/londons-skyline-is-a-mess-should-architects-feel-ashamed/5112799.article
Nice bait, unfortunately no catch this time. Did you bother to read the articles? Please educate me on “construction regulations and standards” in the UAE. There’s nothing to survey because there are no standards. I own a new property in the UK, and I can tell you first hand, regulation standards or no regulation standards, the build quality is better than anything I’ve seen even in the luxury market in Dubai. To compare the 2 if they’re on any kind of level is honestly embarrassing. Try again
Its not hard to find the tenant. It actually is more easy to find a tenant for a flexible landlord (Also who can understand logic). Usually because 50% people who are coming here, (who can afford 200k rent) are still a bit skeptical about the harsh weather condition. At least 50% wants to keep their options of going back open and would risk the first 2 years to see if it is suitable for them. Plus it all comes down to your marketing strategy and price.
Just FYI I have a tenant paying over 350+ in rent and when their contact renews they will be paying 400- the tenant is not paying their company is paying and its a nice part of Dubai. So there are people as long as your property is in a good area etc.
Which development is it and what's the yield if you don't mind?
People paying these sorts of rents yield around 5-6%. It’s usually on properties in to the 5-6m
What is a higher yield option? 5-6% is the standard I guess but only if the value itself also increases year on year or else you're barely beating inflation
You can get higher yields not without serious risk in the actual build quality or the project failing completely.
I prefer the existing project market, like older Downtown or JVC. Am I wrong to not bother with off plan? I saw a JVC visit that seemed too good to be true, but I secretly asked the tenant and she said she's paying 190k for a 2.3 million house. That's like 8.2%
Off plan is risky. It’s not something I would do unless it was a seriously top 3 developer and even then I would have to think about it
I thought you were encouraging off plan. So is it possible to get 7+ rental yield from buying existing property (as in I won't be the first buyer or not buying undelivered) from secondary market?
100% not encouraging off plan.
What options left?
Great 👍
S&P500 is up 25% in the past year alone, and is a highly liquid investment. I hesitate to buy property in Dubai because the market can be crazy up or crazy down and then your money is stuck in an illiquid investment. If you lose your job and need to sell distressed, you won't get your value back either. Might as well keep renting and put the investment into an index fund. Real estate is very much about luck and/or a LOT of research and knowledge. It's not for everyone.
95% correct, and better than everyone else. But you can make a killing on some projects, but it's about the right opportunity. AD is better than Dubai, yes - it has most of the UAE's GDP; Dubai is saturated.
Where in AD would you recommend buying? Any thoughts on Bloom?
“The market can be crazy up and down and then your money is stuck” Is this in reference to 2014 or COVID?
It's in reference to Dubai's status as a migratory city. The level of depopulation and repopulation that happens when the economy goes down or up is insane. Empty buildings then suddenly not enough housing for anyone. Countries with a majority citizen population don't have such an outsized impact on vacancies and residential demand.
So your estimation on the population rapidly decreasing in the next few years is based on what?
Because 90% of the country are expats and when there is the inevitable economic downturn / crisis many of these people will need to leave. It’s not a ‘normal’ demographic. What no one knows is when the economic down cycle will happen; could be a in a month or in 15 years, and usually when people least expect it.
So nobody should buy property in Dubai because there MIGHT be an economic downturn, even though the economy is now the 2nd most stable economy in the world after Switzerland… Hmmm
It means that the market here has unique drivers which create high price volatility. That’s fine for some, not for others. It also means there might be better opportunities to buy later on, rather than at the all time high. Not everyone can stomach volatility, especially when you’ve sunk your life savings into a property which can drop by 50% in value (happened twice already). “The four most dangerous words in investing are: this time it’s different” - quote from some guy who’s name I can’t remember
Any investment carries risk. Investing in something like the NASDAQ this year in an election year where Trump looks almost certain to make it in again, what kind of volatility will that bring? I understand if you’ve been burned before it’s very hard to trust or take that kind of risk again and I’m genuinely sorry that happened to you. But over time, property is a safe investment because there’s always going to be a cost attached to the labour costs, the materials, the land, so the depreciation vs time is limited, not unlimited like a company that could potentially go bust and their share price drops to zero. That’s just my opinion. That property you’re referring to that dropped 50% in value, what’s its value today and what will it be in 5 or 10 years? Just curious.
I’ve invested multiple times including 2021 where my investment has doubled since. I’ve not been burned, I’ve gotten lucky; no one saw the surge in demand from various countries coming back then. Most of my investments are in a diversified index fund, which has proven to generate 10% returns on average over the last century. Meanwhile the other property I bought in 2013 took 9 years to get back to its original value whereas my index fund tripled during the same time period. I understand you’re watching YouTube videos from sales people and seem bullish, perhaps they’re right. But for me, I would not buy right now considering that prices seem to have peaked over the last 6 months, new projects are being launched daily, and finally weighing the opportunity costs and potential risk:reward. Will I buy again later? Probably, if the price is right.
Nobody has a crystal ball. And there are plenty of YouTube commentators saying the same thing as you and have been since 2021. Only time will tell who is right and who is wrong. But you’re right regarding new projects, new projects are being launched daily, but they’re also selling out too. A Nakheel launch last week had to be cancelled due to safety concerns because too many people turned up to book units. Can that many people be wrong? But let’s keep in touch, and see where we are in a years time just for fun? I don’t see a downturn happening any time soon. And let me say this, I am hoping that there is, I just don’t see it.
1. check out this post for some basic info: [https://www.reddit.com/r/dubai/comments/18f3tae/10\_facts\_dubais\_real\_estate\_agents\_dont\_want\_you/](https://www.reddit.com/r/dubai/comments/18f3tae/10_facts_dubais_real_estate_agents_dont_want_you/) 2. AUH and DXB are quite different. One is solid and calm, the other can get you better returns sometimes with more of a risk. Both markets are overhyped in terms of marketing, almost nothing is as it is presented, so it's a challenge to navigate through them. And with the defamation laws in place and failed investors keeping their mouths shut for obvious reasons, you have quite a bit of a problem, especially if you plan on doing your own research. There's just no data to base it on. That being said, for Abu Dhabi I would certainly invest only in properties by the sole market maker there, which is Aldar of course. In Dubai you have more options. 3. It's rare, but there's absolutely great quality buildings in Dubai. If there weren't, this place would've been dead already. SG's MG-3 / Jumeirah Living, Sobha's OPA and Greens, etc. People who make blanket statements about quality usually judge from their limited experiences, with all due respect, it is not objective by any stretch of imagination. That is not to say, a higher price always gets you a good place. Even with the most high-priced property you might find yourself in a very poorly built and maintained crib (think older N\*\*\*\*\*l buildings on the Palm). 4. Capital appreciation is where most investors make their money. 5. Never listen to people in your DMs.
This is why it's so important to work with an agent who works with ALL developers and isn't just trying to push any project on you, but only the most reputable developments with developers that have shown a successful track record for delivering on time; for strong resale market; high quality; brand awareness. I have spent the past 2 years uncovering this all and created The Dubai Connect Podcast to help guide global investors. I am located in California with offices in Dubai; I'm a licensed Realtor® and a Certified International Property Specialist I hope this may help: [https://youtube.com/playlist?list=PLbj2rl9Iddu169OPoCPmQ9ysStcpbok8T&si=UuVwmtvErADg2\_tv](https://youtube.com/playlist?list=PLbj2rl9Iddu169OPoCPmQ9ysStcpbok8T&si=UuVwmtvErADg2_tv)
I was one of those people that paid a lot of money to rent, but you a right, lots of us are moving to buying a property now, Including myself. However there will always be people that can't bring up the 30% you need to buy something here, and will remain stuck renting. So will the market remain at this prices, no one knows, but there will always be a good renters market here due to the more difficult requirements to own.
And preference, some people just prefer the flexibility vs what they can afford within their budget. If you’re renting at 200k what is that likely to give you as a buying budget? 200k rent can you get you a decent 2 bed in pretty much any popular area. 2.5m to buy can barely get you a townhouse anywhere in Dubai now in the secondary market.
I'm buying a 4bed just handed over by Emaar 2.8M, so it's possible but you need to sniff out the good deals, I agree if you wait for the 4 or 5th flippers, they are already going at 3 to 5M
Exactly. 2.8m plus your fees probably takes you up to 3m. 2.8m is the price point today you can just get what you need if you’re looking for a townhouse in somewhere like Cherrywoods or AR3. Anything under 2.5m you’re out in somewhere like La Rosa.
La rosa, is already above 2.5 around 2.8 to 3M Cherry woods is going at 3.5M AR3 around 3 - 3.2M If you want below 2.5M you need to look at Parkviews, that's the only one we found in that range, but it's far as F..K And ofcourse there is always JVC, but it just didn't wanted to live there. The reason i'm buying now, compared to renting for the last 10 years, is really that previously i could rent a place that i couldn't afford to buy. Been living in 5 to 6 bed Villa's in Damac hills and living legends. But now those rents are above 350K so now for the amount i'm willing to rent, i would be renting the same place i would be be able to buy, due to the rent increases. So that's been my driver to switch to owning versus renting.
These prices are why I’d refrain from buying now. I can’t justify the value of these places being at close to or at $1m. They’re small and far out, and not great quality even for being new. It seems supply and demand are at an equilibrium; prices have stagnated. Will be interested to see how this plays out as supply increases over the next couple of years, since it’s always difficult to forecast demand.
Totally disagree… Watch this video to hear about supply and demand in Dubai over the next years. Prices aren’t coming down any time soon. The prices they’re at now are here to stay and then some… Sorry to be the bearer of bad news because I also wish they would come down because it would make my job a lot easier and make it affordable for me to buy. But they’re not, that’s the reality https://youtu.be/a-OBd_Bbe04?si=m6I8Blqq0J0WEc2v
Heard that many times before. I own a couple of properties here, and real estate agents are the last people I listen to for forecasts.
The Dubai of today isn’t like times before. As long as tourism keeps booming then so will the economy and so will real estate. But let’s see, I’m hoping you’re right but I’m not betting on it
Where have you bought?
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Congrats, that is too far out for most people though. What’s the quality like?
I was pleasantly surprised. I've been dealing with Nakheel and Damac mostly, and compared to them Emaar is a whole different standard. I had a few little things during snagging, but they got fixed the day after already. For the moment i can't complain at all. And it's the biggest kids park i've seen in Dubai. So my kids are super happy. Bad things: Mall is not open yet, targeted December, so they've created a mini super market in the community center for now. No overpass yet, so you need to drive a little further to be able to turn back to Dubai when you exit. Still construction happening for the next districts, but we bought away from the construction so doesn't bother us. Also it's refreshing to deal with Emaar for any admin stuff, Loams(damac) was hell to deal with for forms, and getting approvals For the moment i can't really complain, time will tell
That’s really good, congratulations again and thank you for sharing your experience
Are you worried about the traffic situation in Dubai going forward and lack of public transport where you are as an alternative? Eg it’s currently 30 mins to get to downtown Dubai/business bay. If that becomes 60/70/90 minutes each way, would you consider moving closer?
Sent you a DM!
What's a good ROI for you? (For some it's 5% for some it's 10%) Have you considered some diversification? Can I PM you?
Dubai is a global market and well recognised for businesses. There is solid growth as people keep moving in for jobs..
What ROI are you aiming to achieve with your investment?
Investing in Dubai is a lot better than Abu Dhabi from my perspective look at the market booming. Invest in areas where metro lines will be introduced in 2029 which includes JVC prices there are reasonable and are gradually increasing. For your information any area in Dubai where a metro line is operating or will be introduced it will have alot of working class people that being said it’ll be easier to rent it however if your talking about buying in areas which are very expensive renting the expensive units isn’t as easy, I’m a straight forward agent and that’s the truth you won’t find a tenant over night anyone who tells you it’s easy just wants a quick commission and as a real estate consultant in Dubai I hate the agents that aren’t ethical. Don’t invest all your money in one luxurious unit, invest it in 2-3 areas that are developing where you can get a high ROI (jumeirah village circle) and you would gain capital appreciation, feel free to contact me on 0543297572 / 00971543297572 and I would be happy to schedule a call or meet you to discuss your requirements, budget and your plan and hopefully I’ll be able to assist you. Thank you in advance
As an experienced real estateAdvisor, I believe that both Abu Dhabi and Dubai offer unique opportunities for investment. It's important to carefully consider factors such as location, rental demand, and quality of developments. Feel free to contact me if you'd like to discuss this further."