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Discussion Starter · #1 ·
Hello all,

I am new to this forum. I really appreciate all the info some of you have provided over this forum.

My husband, daughter and I are moving to Dubai in less than a week.

I have an annual AED 200k housing allowance from my employer that I can apply towards a rental or a purchase of property.

I see there are great deals for purchase in JLT at much lower prices than Marina.
From a purchase or rental perspective, can you provide your thoughts on JLT vs Marina in terms of what I get for my money (of course things like proximity to beach, shops right outside the door in the Marina outweigh JLT, but there is quite a difference in price).

I was in JLT 6 months ago and it seemed like a big construction zone with very little "community" feel. I realize its just buildings thats hard to come by but the roads seem very confusing. Not a lot of greenery. Has that changed?

The other thing I am considering is Villa in Arabian Ranches vs. Meadows vs. Green Community. We are going to be working in Downtown Dubai but don't mind the drive from AR.

Also given the economic condition in Dubai, is this a good time to buy....or would you still advise to rent for a year or so.

Your advise will be much appreciated. I am hoping to connect with some of you once I am in Dubai.

Thanks a ton !!
 

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Hello all,

I am new to this forum. I really appreciate all the info some of you have provided over this forum.

My husband, daughter and I are moving to Dubai in less than a week.

I have an annual AED 200k housing allowance from my employer that I can apply towards a rental or a purchase of property.

I see there are great deals for purchase in JLT at much lower prices than Marina.
From a purchase or rental perspective, can you provide your thoughts on JLT vs Marina in terms of what I get for my money (of course things like proximity to beach, shops right outside the door in the Marina outweigh JLT, but there is quite a difference in price).

I was in JLT 6 months ago and it seemed like a big construction zone with very little "community" feel. I realize its just buildings thats hard to come by but the roads seem very confusing. Not a lot of greenery. Has that changed?

The other thing I am considering is Villa in Arabian Ranches vs. Meadows vs. Green Community. We are going to be working in Downtown Dubai but don't mind the drive from AR.

Also given the economic condition in Dubai, is this a good time to buy....or would you still advise to rent for a year or so.

Your advise will be much appreciated. I am hoping to connect with some of you once I am in Dubai.

Thanks a ton !!
I'd definitely suggest that you rent for a year or so before you buy. The reason being nobody knows whether the dubai property market has hit the bottom or not (dont believe what you read in news media!)
 

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You would be mad to buy in Dubai unless you have plans to stay here for many years. Its a very risky place to invest in property. Fine if you're planning to stay here 10 or 20 years so want to save "wasting" money on rent. Otherwise invest your money somewhere safer!
 

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Discussion Starter · #4 ·
thanks for the response. I am primarily not wanting to waste the 200k every year if I am going to be here for 4 years or so. Especially if I can find something decent in the AED 1.5-2 million range. The way I look at it is that at that point the property is half paid off from the housing allowance.

Also, can you provide advice on the areas above? Looks like rent (and sale price) in JLT is low and it's right across a walkbridge from the Marina. What are the thoughts on that area vs. let's say Marina or The Greens.
 

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thanks for the response. I am primarily not wanting to waste the 200k every year if I am going to be here for 4 years or so. Especially if I can find something decent in the AED 1.5-2 million range. The way I look at it is that at that point the property is half paid off from the housing allowance.

Also, can you provide advice on the areas above? Looks like rent (and sale price) in JLT is low and it's right across a walkbridge from the Marina. What are the thoughts on that area vs. let's say Marina or The Greens.
I agree that 200k every year would go waste if you are renting but if you are taking a mortgage or something keep in mind that should you lose your job, you will be in a very difficult situation. However on the premise that you are quite comfortable with taking the risk, I'd say consider Greens as this is quite comfortable for a family set up and commute to downtown is not too bad. I believe you can get a 3 bed for 1.2-1.4 million range (but check dubizzle for much more accurate prices).

The reason why I quote greens above JLT or Marina is that for a family set up, Greens is lot nicer. It has a nice community feel and lots of amenities near by. Marina is more of single young people and apartments can be a bit small. However if you are looking at JBR, its not a bad option but chose the right building (Rimal has lot of noise issues with the mad traffic in the JBR walk)

Good luck!
 

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Do your realise that typical mortgage "profit" (interest) rates here are 8-9%? In a risk climate your AED 200k is probably best "wasted" on rent IMHO
 

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If you take your 200k, find a house your really like, in a nice area and enjoy living in it for 4 years then it's hardly a waste, is it?

Unless you're looking for a tax dodge, laundering profits from organised crime or from a country with an unstable government and banking system, there is no need to be buying in the UAE.
 

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Don't buy until after you have been here at least six months, imo. If after six months, you have done thorough research on the ups and downs, decide you can stand to be here long term, then I would say maybe. But buy somewhere you think will have some sort of rentable potential in the future. I think I see more 'To Let' advertisements, then anything else here.
 

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just buy it man, go with the flow. life is no fun if you don't take risks! worst is you can leave the keys on the door, leave the car at the airport and flee (everyone does it)
 

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No need to buy, still unstable property situation, you can even get a nice villa for much less than 200k, and keep the rest :)
 
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