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Dubai - Fractional Ownership
Bunnyfluff_2
Posts: 8 Forumite
Just wanted a few opinions on this, as my Mum has just recently signed up & invested to the following https://www.dubaifractionalownership.com and I'm not so sure its a good idea - has anyone else invested this way??
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Comments
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I thought I'd seen it all!
Timeshare with a difference, and it's in Dubai where they're knocking up hundreds of new developments. Who's going to want to live in the UAE's version of Benidorm?0 -
Very good point!0
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Dubai is a sandpit. For 3-4 months of the year it is uninhabitable due to the heat. The property market is a massive bubble waiting to pop. If you were in 4-5 years ago, good news. Today? Forget it.
It's pure timeshare. What weeks of the year did she purchase? How much are the maintenance/management costs each year?
The best way to calculate the value of this investment is to assume the property is worth zero in 15 years time when the timeshare expires. Add 15 years worth of management fees then divide by the number of weeks available (30) to arrive at a per week cost. Add the price of flights to/from Dubai and see if you think it's reasonable.
Personally I wouldn't want to holiday in the same place every year for the next 15 years and with the number of rental places rising in Dubai, the resale market will be extremely tough.Signature on holiday for two weeks0 -
everyone who has been to dubai I know didnt like it (AS with bulgaria)
Also s with bulgaria its not actually that expensive to go there on a package, but the flights alone are relitavely expensive.
I would never rent an apartment alone when I can get a 4* all inclusive with flights for 350 quid.
HAs she actuallly fully signed up for this. Id do everything in my power to get her back out of this, looks daft to me:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Bunnyfluff wrote:Just wanted a few opinions on this, as my Mum has just recently signed up & invested to the following https://www.dubaifractionalownership.com and I'm not so sure its a good idea - has anyone else invested this way??
bloody nightmare. You've got to ask why they need to come to England to get finance. Can't get it over there because no-one would be daft enough I guess.My policies are based not on some economics theory, but on things I and millions like me were brought up with: an honest day's work for an honest day's pay; live within your means; put by a nest egg for a rainy day; pay your bills on time; support the police - Margaret Thatcher.0 -
why they need to come to England
I think you'll find they're already here ..
Domain name: DUBAIFRACTIONALOWNERSHIP.COM
Registrant:
Stott Group Ltd
The Box Brooke Court
Lower Meadow Road
Handforth
Wilmslow, Cheshire SK9 3ND
Administrative Contact:
Administrator, Domain *******@stottgroup.co.uk
0161 488 3554 Fax: 0161 485 8707
And an amusing comment on their homepageYou’re probably visiting this site to find out why Stott Group is being labelled as the UK's emerging brand in service excellence...Signature on holiday for two weeks0 -
Mutton_Geoff wrote:What weeks of the year did she purchase? How much are the maintenance/management costs each year?
They have given her the first 2 weeks of Dec every year, I'm not sure on the maint costs, will have to clarify with her. It worrys me though as the property will not be ready until Dec 2009! and she has to keep the property for 15 years from now, so really can only use it from 2009 (only 12 years) ..They say that if she doesn't wish to holiday there for the 2 weeks in Dec then she can rent it out...(I'm still not convinced myself) or holiday elsewhere in the world...0
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