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Hi

I am considering to buy 1 BR in Dubai , I know that prices are falling which may mark two sides of the same coin ( Good time to buy VS risk of further price drop ) . However I need to buy and sure on the long run it will be a good idea considering the city development plans linked to Expo 2020

I am asking which areas you think may be prominent and good candidate for a good future appreciation .

For example , if you know some areas which the metro will reach there before 2020 ... this may be a great choice


My Budget is 650 k for small 1 BR . This budget can get me in :

1- Sports City
2- Discovery Gardens
3- JV
4- Silicon Oasis


I am open to new recommendations and want your opinion in the existing ones
 

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Is this to buy and let or to live in?

1- Sports City

No real information on this one but can't help feel it will always be overshadowed by other developments in Dubai and never really come to fruition. There's a new City Centre mall opening nearby and it has got good road links to DIP and the 20/20 site.

2- Discovery Gardens

Probably the most 'established' out of the four areas. Prior to the economic collapse, DG was regarded as affordable housing and a way for many expats to own their own property. Post collapse and a lot of people ended up owning property in negative equity, employers starting renting blocks and using it as staff accommodation and the developer didn't finished things like pools and play areas.

I think it's made some recovery and but seems to struggle from traffic in and out.

3- JV

Still largely under development but does have a lot of people living there already. the units I've seen are nice inside but areas like this are always a gamble when trying to get in at the early stages.

4- Silicon Oasis

Always seems to be regarded as "too far out" but in reality is no further than anywhere else in Dubai. Seem to attract those who don't mind driving or who don't chase the bright lights every weekend. I went to flat warming once and it was fantastic value for money considering they space they had, pool, gym etc. Near to Academic City.
 

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My recommendation is you buy 2 studios in international city. Each for 350-450K (you can still negotiate the price lower).

You will get a tenant the next hour you buy the property. Rent is around 40K annually.
 

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4- Silicon Oasis

Always seems to be regarded as "too far out" but in reality is no further than anywhere else in Dubai.

Very true, I live in silicon oasis and I find it very convenient for investment. When I was looking for an apartment, all of my Dubai friends commented DSO is too far from my workplace, they recommended Sports city instead. On reality DSO is 20 KM from my workplace while sports city is 22 KM away.

I wonder where this misconception came from.
 

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My own take on property investment is to keep the expenditure ticking over while looking to cash in on long term appreciation.

350k / 40k = 8.75 years to pay it off. I'd hate to see what kind of property you'd have left after nearly 9 years in International City.
 

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I'd recommend Sports City. Its a newer development and its expanding rapidly, its got a great road network as well. You'll however have to pick a property in a building owned or constructed by a good developer. Avoid Discovery Gardens, it used to be something of a big deal back in the day, but as with most Nakheel property, its eventually fallen in stature due to mismanagement. Buildings are old too. Jumeirah Village is fine but its a Nakheel property, I doubt you'll want to hold when they start their mischief. Dubai Silicon Oasis is just too far out even for a 2020 projection.
 

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i would say invest your money elsewhare, at the end if the day were only expats and its a 99 year lease, so technically the govt can take your land after the 99 years is over, and seriously nothing is ever guarnteed here.
 

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i would say invest your money elsewhare, at the end if the day were only expats and its a 99 year lease, so technically the govt can take your land after the 99 years is over, and seriously nothing is ever guarnteed here.
Elsewhere means where?

Nothing is guaranteed anywhere. I have yet to see the building that will last more than 99 years unless it is a bunker or very old style building in Europe. These days no one build quality properties to last forever, as everyone is rushing with finishing the projects asap. In Singapore most condominiums also have 99yr lease yet locals are buying. What happens there is that usually after 30 years, another developer buy the land and properties if 80% residents agree.

There are freehold areas in Dubai, such as the Palm but what if it sunk one day? :)
 

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There are freehold areas in Dubai, such as the Palm but what if it sunk one day? :)
Course it's going to sink, but it's not likely to happen for the next couple of generations. Perhaps, by then, someone will invent a way to keep it above sea level :)
 

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The Palm buildings are more stable than the residential developments on land.

The buildings are in very very very deep pilings down to bedrock so if all the sand went away they would be left on stilts :)
 

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I heard that DSOA is working hard and also co-investing in getting new companies establishing in their freezone. From this point of view it may be interesting to look at as an investment.
 

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The Palm buildings are more stable than the residential developments on land. The buildings are in very very very deep pilings down to bedrock so if all the sand went away they would be left on stilts :)
I won't tell you who I know who told me that but I will quote him - 'what we take from Mother Earth, Mother Earth will take back. Maybe not in my generation or that of my children or grandchildren, but she will reclaim it'. And, believe me, he KNEW :)
 

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I was considering all these areas too and my heart went out for DSO. I loved how it was complete yet very peaceful and somewhat green. However I was told that in the process that the apartments in dso are leasehold not freehold. Jv, sports city, dg are all freehold areas while in dso you can buy but your title deed will bear the leasehold status.
Now, I'd like to know has any non arab expat bought an apartment in DSO?. How is the future like, say if you wish to buy and live for the next 5 years to 8 years and then pull out (when you leave the country). I know alot of ppl buy in freehold for this purpose but what's the deal with buying leasehold...provided i dont intend to own it here for more than mentioned period. Any argument for and agagainst leasehold in dubai?.
 

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I live in sports city and if I had money I would invest it for the following reasons.

1.soon to be no traffic to jebel ali free zone
2.no traffic to dubai or sharjah
3.no salik
4. next to motor city/ new city center mall in IMPZ.
5. 15-20 minutes away from Marina/MOE/JUMERIAH
6.30 minutes away from current airpot and new airport


I wish I had money to invest there :(
 

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I live in sports city and if I had money I would invest it for the following reasons. 1.soon to be no traffic to jebel ali free zone 2.no traffic to dubai or sharjah 3.no salik 4. next to motor city/ new city center mall in IMPZ. 5. 15-20 minutes away from Marina/MOE/JUMERIAH 6.30 minutes away from current airpot and new airport I wish I had money to invest there :(
Sports city is 30 mins to the current airport? Are you flying the car from chitty chitty bang bang? Lol
 

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