Dubai property

Dr House · 30 Nov 2009 at 18:41

Dubai’s over inflated property market seems to have taken a pasting over the last year and it looks like it will probably still fall quite a long way.

So would it be worth buying at some point the not too distant future with the prospect of holding on to it for 5 to 10 years?

Stretch · 30 Nov 2009 at 18:45

Maybe

sigma · 30 Nov 2009 at 18:46

If you can afford to lose it, might be worth a punt?

Dr House · 30 Nov 2009 at 18:50

well I was thinking of spliting it with a friend so even if the market went down after buying we still would not loose that much each.

Its just an idea we had, I dont know if anything will really happen but I am going to look into it.

MikeHunt79 · 30 Nov 2009 at 19:11

I wouldn't risk it... I'd rather buy shares than property abroad... That way you can spread the risk.

sigma · 30 Nov 2009 at 19:14

Something tells me that we're not going to be shown the real picture of their economy.

Scuzi · 30 Nov 2009 at 19:17

Personally, I would seek such investment advice from professionals whilst conducting extensive research. Asking on a computer shop's forum which is largely populated by nerds at the peak of their puberty doesn't really strike me as prudent.

Andr3w · 30 Nov 2009 at 19:17

Wow, the property in dubai is niceeeeeeee

http://www.bhomes.com/property/sear...+Check-in+date&todate=+Check-out+date&sortBy=

Django x2 · 30 Nov 2009 at 19:24

Where are you looking at what price range. I have a friend who has bought out there and loves it. He owns a few properties over there plus a load in Liverpool too, by contrast

Dr House · 30 Nov 2009 at 19:26

Scuzi said:
Personally, I would seek such investment advice from professionals whilst conducting extensive research. Asking on a computer shop's forum which is largely populated by nerds at the peak of their puberty doesn't really strike me as prudent.

LOL yes if we do seriously consider it I will do my research but OCUK is populated by all sort of people with a wealth of knowledge and information.

We still need to finish the project I have started in the uk before we could consider anything else anyway.

Johnny Girth · 30 Nov 2009 at 19:44

If you fancy a gamble there are a lot less risky investments but with potentially bigger returns. If you're serious then consider buying investment products with embedded derivatives - some even offer capital protection. If you've got that kind of money kicking around then you can get financial advice and access to a range of interesting products.

Dubai doesn't seem like a worthwhile gamble...what does it actually have going for it other than flashy unsustainable tourist attraction hotels?

Mr-White · 30 Nov 2009 at 20:34

Good luck with that

MW

Django x2 · 30 Nov 2009 at 21:20

Mr-White said:
Good luck with that

MW

you're missing the point. This is exactly why you WOULD want to be buying there using a sensible deposit. It's only a deferred payment, hardly the end of the world

Mr-White · 30 Nov 2009 at 21:35

If property continues to fall, where's in the investment in that ? :confused:

MW

batsy · 30 Nov 2009 at 21:50

I'm not sure but my gut says maybe.

Raymond Lin · 30 Nov 2009 at 21:57

Johnny Girth said:
Dubai doesn't seem like a worthwhile gamble...what does it actually have going for it other than flashy unsustainable tourist attraction hotels?

I've said it before

If i want to go to the beach - There are a million nicer beaches in the world, some even have pretty hot blondes sun bathing topless, not going to find that in Dubai !

If I want Hot Desert weather - I can go to Vegas, at least there's more to do there than just hotel and shopping in Armani stores

If I want to go skiing, as this seems to be a reason to go, because there's the biggest indoor ski slope there - Pointless, if i want to ski, i want a real mountain with real snow, pay all that money so to ski in man made snow is crazy

If i want shopping - NYC, Toyko, London, Paris, Hong Kong and a hundred other cities, plus they all have history, and something else to offer.

If I want hot women and drinking - Not Dubai, i am not saying they are not hot, but i doubt you'll be picking any up going out.

Now, if you have a property there, what do you do with it? If you are going to live there because of work, thats different, but to buy it as an investment??? It's safer i think to buy it in London.