Investing in Dubai and UAE-Purchasing Property

[neocon_2007]

Whats the RoR of an average 1 bedroom condo in Dubai? Is Dubai over-rated, what about properties in Sharjah or Abu Dhabi?

[gurey25]

average price of a 1 bedroon condo in dubai is around $150,000 US.

average rent would also be around $16000 annually

[neocon_2007]

What about lenders is it similar to the US/Canada. Is their a certain percentage for a down payment on residental properities?

[Sanaagian]

I've heard of prices down to 90 000 k for 1 + 2 bedroom apartment..

try Manazil Towers google it

Somali agent

[neocon_2007]

In 10 yrs Dubai will be the next Manhattan you cant get a 1 bdrm apartment for less then a mill.

[cabdallah252]

my parents bought our villa 17 years ago for only 70k now if you put it on the market it can be sold for 1,5-2 million USD

[neocon_2007]

[quote="cabdallah252"]my parents bought our villa 17 years ago for only 70k now if you put it on the market it can be sold for 1,5-2 million USD[/quote]


Is the villa outside Dubai, I know several people who have homes in Sharjah and we're multi -generational Warsangelis but couldnt purchase properities anywhere else but there.

[Sanaagian]

neocon you were discriminated?

man thats sad to hear

[gurey25]

[quote="neocon_2007"]What about lenders is it similar to the US/Canada. Is their a certain percentage for a down payment on residental properities?[/quote]

they usually ask for 5-10% downpayment,
as of april 2006 they laws are similiar to US/Canada.

cabdullah it your villa must be in sharjah,
we were offered a piece of land in sharjah 5 years ago and we declined,
it was going for AED 100,000 and today its worth 5 times that.

[Sanaagian]

how fok is it possible to buy land for 100 000 aed?

who offered gurey

I am interested
whats the case of 08 in 100 000 like.. what can I get

[Alchemist]

Guys how is Sharjah compared to other cities?

Why is land cheaper there?

[cabdallah252]

[quote="neocon_2007"][quote="cabdallah252"]my parents bought our villa 17 years ago for only 70k now if you put it on the market it can be sold for 1,5-2 million USD[/quote]


Is the villa outside Dubai, I know several people who have homes in Sharjah and we're multi -generational Warsangelis but couldnt purchase properities anywhere else but there.[/quote]

its inside dubai proper, near jumeirah beach within walking distance from the only 7 star hotel in the world (burj al arab)


you need emirati sharci to own homes i think, or else the government can take it from you if you die etc

[gurey25]

not possible today, there is nothing below half a million,
and the cheapest property available is a 1 bedroom flat in Ajman for $100,000 US..

[gurey25]

[quote="cabdallah252"][quote="neocon_2007"][quote="cabdallah252"]my parents bought our villa 17 years ago for only 70k now if you put it on the market it can be sold for 1,5-2 million USD[/quote]


Is the villa outside Dubai, I know several people who have homes in Sharjah and we're multi -generational Warsangelis but couldnt purchase properities anywhere else but there.[/quote]

its inside dubai proper, near jumeirah beach within walking distance from the only 7 star hotel in the world (burj al arab)


you need emirati sharci to own homes i think, or else the government can take it from you if you die etc[/quote]

Cabdullah there are only 2 somali families that own land in that area.

loool

its gonna be easy to track you down if you are telling the truth..

dude, you are selling yourself short, today if its in the Jumerieah area the land alone is worth 2 million dirhams, at least.. its the most expensive sqaure meter in the Middle east.

[neocon_2007]

[quote="Sanaagian"]neocon you were discriminated?

man thats sad to hear[/quote]

Sanaagian no non-national can purchase or even run a business in the UAE without another national. Their are many Somalis who we're in the UAE since the early 1920's-40's and do not have any land. Sharjah is a suburb of Dubai and I'm assuming isnt regulated the same as the rest of the districts. 100 000 aed is cheap thats about 40,000 dollars.