I was reading about Dubai Property over at Shorttermrentals.wordpress.com and I remembered a conversation I had with a friend only yesterday. We were talking about Dubai and how their tax laws basically allowed you to pretty much take home what you earn, then we started discussing property investment there.
It seems like a very good place to start looking for property to invest in abroad, especially as a lot of the country's current residents are not property owning citizens. However, i've always been a bit wary of buying something when I don't really have that much information on it; especially if it is a big purchase.
If i'm buying a property in the UK, I can see what the house prices in the street have been for the past couple of years, what the schools are like, is it near a train station, what the current resident demographics are; and maybe that just makes me a bit warey.
Some good news, I'm soon going to be able to release info on opportunity for a few more people to get into the property investment game. The best bit is the rental income is guaranteed. Leave a comment and I can send you the info as soon as it's released.
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Before deciding to buy property in Dubai, deliberate on the following imperative points:
1. Can u afford it?
2. Can u afford it if the interest payments change?
3. Can you afford the transaction costs?
4. What is the ongoing maintenance cost of your Dubai property and the communal areas-are they due to rise?
5. Do you need to purchase through an offshore company or Trust?
6.Does the developer allow you to sell the property when you like to whomever you like?
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