how is residential property in Dubai???

Hi everyone, i used to live in dubai about 6 years ago for a year and would like to move there and was looking to get some info on the prices for a 1 or 2 bedroom apartment around Dubai marina or Jumaira or somewhere around there. i would really appreciate the help and info. As an american am I allowed to purchase an apartment and do I have to pay taxes? By purchase I mean fully purchased not the 99 year lease they have and is it legit? and what builder do you suggest? Iknow I ma asking too many questions and forgive me. thanks for taking the time. and good luck to you in whatever you are doing and god bless.

[Helios]

Fior the rent prices you can have a look at these websites GNAds4U.com and Dubai Property Real Estate for Sale and Rent, Jobs in Dubai, Dubai Classifieds .
As far as I'm aware anyone is allowed to purchase a property in Dubai without any restriction but for the 99 years lease I think that it depends of the area where the property is located, I'm sure that it is the case in Mirdiff but for locations like Dubai Marina and JBR it is a full ownership.
Emaar, Nakheel and Dubai properties are one of the most serious developers.

Thank you very much for the info and I ll look into those websites. But do u have any. Idea if the prices have come down? I have heard they r down 40 percent for purchasing purposes from 2007? Tx again

[mayotom]

Originally Posted by Helios

Fior the rent prices you can have a look at these websites GNAds4U.com and Dubai Property Real Estate for Sale and Rent, Jobs in Dubai, Dubai Classifieds .

Properties for sale are also listed on these websites.

Originally Posted by shahnameh

. As an american am I allowed to purchase an apartment and do I have to pay taxes? By purchase I mean fully purchased not the 99 year lease they have and is it legit? and what builder do you suggest?

well that is a very contentious question, yes you can buy a property, but it will be on a renewable leasehold( which they falsely claim to be freehold) the Freehold senario that you are used to in most parts of the world doesn't exist here, they have just played with the words,
let say you buy an apartment in the Marina on the 30th floor, in 15 years time the building is demolished due to serious structural faults, then you will only have the rights to the piece of air that is 30 floors up in the air, you have no rights to the ground that the tower was built on. the government is planning to change this but I wouldn't hold my breath.

Originally Posted by Helios

Emaar, Nakheel and Dubai properties are one of the most serious developers.

these are just he big names, all government owned, all with their problems, all financially in trouble, all now known for poor quality work, all known for not delivering what was contractually promised, all protected by their owners(the Government) to judge the quality of construction just take a look in the phone directory of the number of companies that are here who specialise in Building repair(fixing Cracks, leaks, re-wiring, re plumbing and on and on) most of these companies are called in long before the buildings are even completed.

I hope this helps..


oh BTW, hows Thailand, Cost of living, standard of living, Work Prospects etc

thanks

mayotom




As for the prices they have plummeted in the areas that you have asked about if you are persistent and demand a fair price you will buy a one bed in Marina/Jumierah Lake towers for 700,000AED and less and a 2 bed for less than a Million. still way too expensive for what you get.


So in my opinion just don't Buy.

[milkshake2044]

hi there

we have just brought a beautiul 2 bed plus maid's room in the dubai marina area. the developer is Trident and the finish is amazing. we paid 1.5mil AED for it all in and the property is freehold. Prices have come down but bargains are going very very quickly. we were lucky to find one where we did

good luck

[mayotom]

Originally Posted by milkshake2044

hi there

we have just brought a beautiul 2 bed plus maid's room in the dubai marina area. the developer is Trident and the finish is amazing. we paid 1.5mil AED for it all in and the property is freehold. Prices have come down but bargains are going very very quickly. we were lucky to find one where we did

good luck

What is your understanding of Freehold?

do you own any of the ground that the Trident Tower is built on?? answer: NO

[milkshake2044]

all i know is that there is no 75 or 99 yr lease and that is good enough for me

wow talk about taking out the joy of someone buying a nice place!