Real estate investment in Dubai - what do you think?

AlexanderTheGreat

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For some time now I have been thinking more often about buying an apartment in Dubai. Many people like the country due to a good economy and government, and of course minimal Taxes when doing business from UAE.

However, I understand that there must always be a catch. Maybe any of you have experience with UAE?

- Is it hard to find a trustworthy real estate agency?
- What are the best districts to invest - so I can rent out my apartment for example?
- Are the fees high?
- Do you get a visa residency after the purchase?
- Easy to open bank accounts?

I also find the so-called 'Freehold' zones interesting - I don't want my apartment to be mine for 99 years only :D
 

FragSK

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Hello, long term will bring approx 6/7% net if u get an unit like studio/1BR.
Airbnb there is a lot of competition and now due to crisis it's hard to get bookings...
 

summersalt

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I have been seeing different ads of these real estate companies pop up in my Instagram. Would be nice to read someone’s experience
 

AlexanderTheGreat

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Hello, long term will bring approx 6/7% net if u get an unit like studio/1BR.
Airbnb there is a lot of competition and now due to crisis it's hard to get bookings...
Is it hard to find someone for long-term?
Is there currently an oversupply?
 

HunterLife

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For some time now I have been thinking more often about buying an apartment in Dubai. Many people like the country due to a good economy and government, and of course minimal Taxes when doing business from UAE.

However, I understand that there must always be a catch. Maybe any of you have experience with UAE?

- Is it hard to find a trustworthy real estate agency?
- What are the best districts to invest - so I can rent out my apartment for example?
- Are the fees high?
- Do you get a visa residency after the purchase?
- Easy to open bank accounts?

I also find the so-called 'Freehold' zones interesting - I don't want my apartment to be mine for 99 years only :D
you can easily Find Real estate agencies
fess are depend upon agency to agency
 

Putt

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Real estate agencies here are something else. 90% of the off-plan developments are cheap pump & dump schemes and ethics don't seem to have been imported. There's a huge amount of money to be made in real estate but I would want to be here on the ground and dealing directly instead of through one of the investment 'firms'.

You can get a 5 or 10 year visa for real estate holdings as part of a newer scheme. If not you can just whip up a free zome company and sponsor yourself that way.
 

Aleksandar916

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- Is it hard to find a trustworthy real estate agency?
- What are the best districts to invest - so I can rent out my apartment for example?
- Are the fees high?
- Do you get a visa residency after the purchase?
- Easy to open bank accounts?
-It's not difficult to find, but it's better to either be on the ground or check with someone who is. As with everything and everywhere, there are scammers and those who kills with fees.
-Everyone wants to live in Business Bay, Dubai Marina and Dubai Downtown. Those are hot areas, but also the most expensive ones.
-There's a number of different investment schemes, so fees will depend on it.
-You can get investor visa or you can open a company easily and get residency that way.
-Bank accounts are super easy to open, many can be open online after you get residency

Good luck. I'd say it's a great place to invest in real estate as the city will expand and grow, rent is high and in demand and real estate is a really strong and well regulated sector. Make sure to do a proper research.
 

Putt

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You should wait for an year to see if Dubai remains unaffected with all the chaos.
The market has corrected post-covid pretty much entirely. Demand remains high for villas with apartments slightly lagging. The market will likely overvalue during Expo and then correct again a quarter after the close of Expo. I'm expecting prices to start rising in just over a month, rents will definitely increase. That coupled with the momentum of people moving to Dubai in the winter will keep the market bullish.

If you're talking geopolitics, then I think the market will remain stable. Admittedly the region is likely to be less stable than before but with Emirati/Israeli relations in a good place, both the economy and security will benefit.

If you're long term bullish, the market is pretty good right now, but in the short term, there will be quite a few corrections over the next year or so.
 

AlexanderTheGreat

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The market has corrected post-covid pretty much entirely. Demand remains high for villas with apartments slightly lagging. The market will likely overvalue during Expo and then correct again a quarter after the close of Expo. I'm expecting prices to start rising in just over a month, rents will definitely increase. That coupled with the momentum of people moving to Dubai in the winter will keep the market bullish.

If you're talking geopolitics, then I think the market will remain stable. Admittedly the region is likely to be less stable than before but with Emirati/Israeli relations in a good place, both the economy and security will benefit.

If you're long term bullish, the market is pretty good right now, but in the short term, there will be quite a few corrections over the next year or so.
What I like about Dubai - it stayed open even during Pandemic.
Very friendly to all digital nomads & rich people who want to optimize taxes etc.
If you know any good agencies - please let me know :)
 

Putt

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What I like about Dubai - it stayed open even during Pandemic.
Very friendly to all digital nomads & rich people who want to optimize taxes etc.
If you know any good agencies - please let me know :)
Dubai is one of the greatest places I've lived. Business is still very much based on who you know which means that while some companies take a year to get a few clients if you know how to make friends you can outpace everyone before you even know you exist.

I moved here right in the middle of the pandemic and am picking up major clients left and right meanwhile every other agency in the city is trying to run Google ads to get some small business with $25 ad spend. It's funny

Dubai Future Foundation is doing some exciting work as well.
Watch this video:

Everybody here agrees that the video is a complete strawman argument. Aside from a number of factual issues, like the sewers at the Burj Khalifa (they haven't used trucks for years, it's all plumbed in), arguing that a city is irrelevant because there's a poem about the Burj Khalifa is fairly unhelpful.

The city has its issues and a lot of them admittedly. The way I see it is the quality of living is amazing, there is so much business opportunity, they don't tax me, the government leave me alone and bend the regulations to support business, and the marketing is continuing to grow.

Ever since Dubai emerged on the world stage, people have said it's declining and is becoming a ghost town but it's just not true.
 

Aleksandar916

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@Putt has put (pun not intended) it very well.

On top of all that, Dubai is one of the safest places to live in right now.
There's almost zero crime, you never see thugs, beggars or muggers and you can walk freely in any part of the city at any part of the day.
 

SureShot

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@Putt has put (pun not intended) it very well.

On top of all that, Dubai is one of the safest places to live in right now.
There's almost zero crime, you never see thugs, beggars or muggers and you can walk freely in any part of the city at any part of the day.
Just make sure not to do drugs or alcohol or be a woman. Otherwise you should be fine
 

Putt

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Just make sure not to do drugs or alcohol or be a woman. Otherwise you should be fine
Complete and utter nonsense. Admittedly the drug policy is strict here although you'll find a lot of people who smoke weed. Alcohol is openly available in hotels, clubs, and your own home.

Dubai is more tolerant of women than most other places in the world, to be honest. There are still some inconsistencies in immigration law but that's about it. If you're a Muslim, things become much stricter but I can't speak for that personally.

They've done away with the restrictions on unmarried couples living together and every month they're announcing new initiatives bringing the UAE in line with the west.

99% of things operate on the policy of you can do whatever you want within the confines of your own home but if you start causing issues in public, they'll come down on you hard.
 

moona2

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they will build a skyscraper right next to your home and ruin the view
 

AlexanderTheGreat

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Dubai is one of the greatest places I've lived. Business is still very much based on who you know which means that while some companies take a year to get a few clients if you know how to make friends you can outpace everyone before you even know you exist.

I moved here right in the middle of the pandemic and am picking up major clients left and right meanwhile every other agency in the city is trying to run Google ads to get some small business with $25 ad spend. It's funny

Dubai Future Foundation is doing some exciting work as well.

Everybody here agrees that the video is a complete strawman argument. Aside from a number of factual issues, like the sewers at the Burj Khalifa (they haven't used trucks for years, it's all plumbed in), arguing that a city is irrelevant because there's a poem about the Burj Khalifa is fairly unhelpful.

The city has its issues and a lot of them admittedly. The way I see it is the quality of living is amazing, there is so much business opportunity, they don't tax me, the government leave me alone and bend the regulations to support business, and the marketing is continuing to grow.

Ever since Dubai emerged on the world stage, people have said it's declining and is becoming a ghost town but it's just not true.

Can you guys recommend any trusted real estate agencies?
Thanks!
 
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