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Is it wise to buy a property or continue renting as long as you stay here.......Suggestion needed...as if the property rental is so expensive:eek:
 

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yes its expensive, and think how much i have paid over the many years... but the quality of the building here isnt very good, the rules change you cannot legally own the land... so i would buy elsewhere.
 

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Actually you can buy a house here, but I believe it is only allowed in the Dubai emirate for right now. But you can assume that the prices would be astronomically high unless you are very well off just continue renting. I know it sucks but it's life for most people. Perhaps in the future the other emirates will allow expats to buy and own land, but not for right now.
 

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no its wrong to say its only allowed in dxb, its allowed in auh, but only in certain areas, such as reef, reem, raha. but u dont own the land. have been able to buy in auh for a few years now.
 

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no its wrong to say its only allowed in dxb, its allowed in auh, but only in certain areas, such as reef, reem, raha. but u dont own the land. have been able to buy in auh for a few years now.
After doing some research I found out you can also buy in Ajman but that obviously didn't go so well since the visas they promised after purchasing turned out to be denied.
 

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if non-GCC you can buy a 99 year lease in certain areas of Abu Dhabi

prices are however still insane

you take a big risk buying here with laws/rules that change every day

for the same price it is better to buy in London imo. Anyone is free to buy in the UK.
 

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After doing some research I found out you can also buy in Ajman but that obviously didn't go so well since the visas they promised after purchasing turned out to be denied.
same happened in dxb when they "allowed" there. risk you take here they change the rules.
 

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Unless you're selling within 3 years, don't buy here.

Even if the rules change and people are given a waiver... you won't be on the waiver list, since you'll be "foreign investment."

Please understand that *billions* in USD have been lost.
 

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I know many people who bought an house, and some, that bought early made a lot of money. Others are paying mortgages higher than the house value. Also some are totally taken by surprise on the high service fees and cooling costs.

I would personally not purchase for the following reasons:

1/ Prices are to high, its still a bubble market. If you buy now, you risk that you have to sell below price later on
2/ Build quality is poor. Besides the limited lifespan, maintenance will be an headache and very expensive, and there is no guarantee that after 20 years, your property is still structurally sound.
3/ Legal protection is very poor. Developers are powerful, and can make you pay for whatever service charge they feel you should pay
4/ I am not much fun of the freehold areas (typically gated with a limited infrastructure), I prefer old town like Jumeirah 1 (central, quiet and everything is accessible).
5/ Although I am here already over 20 years, I will leave one day. Buying a property will limit my flexibility.

Last but not least, I rent a property (villa) in Jumeirah 1 for already 8 years without an rental increase, YES, there are very good Emirati landlords out there!
 
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