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Duabi Property

Tom13
Tom13 Posts: 7 Forumite
Part of the Furniture First Post Combo Breaker
in House buying, renting & selling
Please can someone help me decide if I should buy a property in Dubai purely for investement.

There are a number of websites that I have seen and there are a lot of exhibitions taking place all over the UK. Here is the link of 1.
http://www.dubaipropertyexhibition.com/

Please I would appreciate your thoughts.
Can someone please tell me how I can email Martin Lewis??

Many Thanks.
Tom
«1

Comments

  • epz_2
    epz_2 Posts: 1,859 Forumite
    would you also like to buy some tulips or south sea shares
  • subjecttocontract
    subjecttocontract Posts: 3,232 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    One of the great advantagesof buying in Spain or France or virtually anywhere in Europe are that flights are cheap, car hire is cheap, cost of living is cheap.

    Flights, car hire and cost of living is not so cheap in Dubai.

    Think about running costs. Even if you never use the place yourself do you think you might like to take a couple of trips out there each year to check on your investment ? Return flights around £600 pp per trip.

    Have you got deep pockets ?
  • hearts
    hearts Posts: 1,191 Forumite
    "Can someone please tell me how I can email Martin Lewis??"

    LOL thats a good idea! The mans got a lot of spare time and is probably quite happy to give each post his indiviual attention. ;-)

    Oh by the way. I wouldn't touch Dubai. ;-)
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    I'm pretty dubious. It's not like the land has any real value. My (limited) experience of the middle east is that the land has nil value unless it comes with mineral rights or is in the very heart of the City.

    I realise they're trying to set themselves up as a sort of Middle Eastern Singapore right now but the risks are huge and likely returns too small IMO.

    Definitely do some proper research first - what are property rights like there? What are the political risks (any Islamic/Communists/assorted loonies waiting in the wings)? What happens if the oil price halves or doubles? Ditto interest rates. You may have to pay for some of the research.

    Good luck. I'd be happier with some good defensive shares right now though.
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    "invest £75k, returns £30k/year"
    If it were true, then they wouldn't need to have exhibitions, there'd be a queue of people urging them to hurry up and finish the build so they could complete ... and when is the next one being built...
  • fc123
    fc123 Posts: 6,573 Forumite
    Dubai is a bubble. If they run out of land to develop, they will just spread out and develop more desert.
    If you are going to use the appartment for hols for yourself a few times a year, may be worth it (if you want to go to the same place all the time).

    Otherwise, I'd go with the tulips or carbon offsetting companies.
  • RecoveringAlcoholic
    RecoveringAlcoholic Posts: 936 Forumite
    I try to avoid WAGS.
    Living Sober.

    Some methods A.A. members have used for not drinking.

    "A simple book for complicated people"
  • brit1234
    brit1234 Posts: 5,385 Forumite
    It is just another giant bubble just like Spain was. Yes you can make short term wins but in the long term you will lose.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • Gorgeous_George
    Gorgeous_George Posts: 7,964 Forumite
    Part of the Furniture Combo Breaker
    Dubai or not Dubai, that is the question.

    :)

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • gfplux
    gfplux Posts: 4,985 Forumite
    Part of the Furniture 1,000 Posts Photogenic Hung up my suit!
    Lucky TOM13
    Stay lucky and keep your money
    There will be no Brexit dividend for Britain.
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