Anyone owns multiple properties in Dubai? can you please share your experience. Is it a safe investment haven? Does the law support the investors?
There is a lot of negative vibe about it in the market but eventually only those who actually have invested in the place can tell , what its like ..
Re: Dubai, safe investment ?
I don't have any properties but my cousin has two on Jumeiriah beach but for personal use rather than to rent as such.
I personally wouldn't bother with Dubai, the bubble popped few years ago and Dubai had to beg Abu Dhabi for loans. Dubai has an over supply and not enough effective demand. There are whole buildings in Dubai unoccupied.
I don't think there should be any issues with the law. As long as you don't break them.
Re: Dubai, safe investment ?
With the advent of Expo2020, Dubai is faring better than before. My grandfather owns properties in Dubai, near Jumeirah beach and in Abu Dhabi. I would suggest as a finance student, that you can invest in Dubai by buying stock in the major corporations. Due to Expo2020, Dubai is literally booming but at a slower rate than the housing bubble that happened around 2007. You can invest in the stock market, and buy properties because in a few months, the prices will sky-rocket. The construction industry is picking up and its faring well.
Re: Dubai, safe investment ?
I do believe the law does not support the property investor well enough. For example, a couple of years ago , my father almost made his mind to invest and found the property , just before finalizing , he went across the legal framework and his rights as an investor and was surprised to find out that if he has only daughters he cannot transfer the property or name more then a certain people in the papers .. that really made him cross and he decided against it.
Similarly another family friend bought the flat last year and decided for personal reasons to sell it off a few months later and the flat wouldnt sell off at even a break even point ! he was devastated fro having invested such a huge amount in a worthless place ..
So I asked , if its a good investment option to buy property in Dubai
Re: Dubai, safe investment ?
There are whole buildings in Dubai unoccupied.
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^True. I refer to them as "lavish ghost towns." You'll see a street lined with apartment buildings of such beautiful architecture that they look more like hotels....or even really pretty homes....and they're unoccupied. It's kinda creepy in a way.
Re: Dubai, safe investment ?
I lost confidence in UAE after many people lost their money after the global recession in 2008. Many devlopers took the money of the investor and ran away. Since then things have improved and regulations have been tightened but I still won't trust the country until the government the government does something for those people. The rulers seem indifferent to the plight of the people and are also involved in the real estate market and may have personally benefitted.
Re: Dubai, safe investment ?
Dubai is best place to investment. It is also safe place and boosting. Many business man come here and invest their money in different business.