Anyone bought a property in Dubai ? What is your appreciation?

[Lemonpeach]

Is the property a condo or villa or townhouse?

Beach facing? Town?

Which year bought?

Financing by Dubai banks like Emirates NBD or others?

What is your cap appreciation YTD?

Thanks

 

[born2fly]

Bought a project called "Canals" in sports city during the peak, and the US bank crisis came, all property project was halted. Exactly like what happened to China now....

The project was canceled, and I lost 150k deposit

expensive lesson

My advice, do not buy any unfinished project unless you want to take risk

 

[Laneige]

Last x don’t know hear from who
If u foreigners n have co looking for u to buy means cannot buy
If the project can sell , locals will buy
It will not be yr then to buy …
Dubai no lack of “”land too?

 

[standarture]

Other countries not like SG, purposely inflate public housing. It hasn't become a bubble yet because there is always someone rich or desperate enough to buy.

 

[Lemonpeach]

Bought a project called "Canals" in sports city during the peak, and the US bank crisis came, all property project was halted. Exactly like what happened to China now....

The project was canceled, and I lost 150k deposit

expensive lesson

My advice, do not buy any unfinished project unless you want to take risk

Thanks for advice. Currently there are a few completed and offered. Ofc many units bought off-plan. I did not have any interest actually. But saw one in a road show in London. Financing thru HSBC Dubai and London, or ENBD.

 

[samloi]

Bought a project called "Canals" in sports city during the peak, and the US bank crisis came, all property project was halted. Exactly like what happened to China now....

The project was canceled, and I lost 150k deposit

expensive lesson

My advice, do not buy any unfinished project unless you want to take risk

when was that?
Went there a few times in the mid 2010s. Saw quite a few of those supercars discarded and covered in thick layers of dust/sand....knew something was not right.

Edit: Also remembered some places in the middles east 99.9% uncompleted projects. Cause apparently if the development project is not finished, you dont pay tax. So everyone left their roofs unfinished. lolx

 

[drkcynic]

Foreigners dying to buy our properties until the absd has to be set at 60%.

Meanwhile sinkies want to buy foreign properties? For what?

Unless you have maxed out 2 GCBs with you and your spouse name, you have little business buying overseas properties.

If those properties are any good their locals or other rich men would have bought it already, no need to promote to or wait for you. Don't bring your sinkie mindset overseas.

 

[buttbERry]

Bought a project called "Canals" in sports city during the peak, and the US bank crisis came, all property project was halted. Exactly like what happened to China now....

The project was canceled, and I lost 150k deposit

expensive lesson

My advice, do not buy any unfinished project unless you want to take risk

what the

150k lost like that?

 

[tomsss]

this is some really 20k/pm stuff here going on....

dun mind me here. pls continue your discuss

 

[Lemonpeach]

when was that?
Went there a few times in the mid 2010s. Saw quite a few of those supercars discarded and covered in thick layers of dust/sand....knew something was not right.

Edit: Also remembered some places in the middles east 99.9% uncompleted projects. Cause apparently if the development project is not finished, you dont pay tax. So everyone left their roofs unfinished. lolx

Imho, all cities have boom and bust, just like Melbourne, NY, Bangkok, SG, Dubai, Vancouver, London, Shanghai. They had their bubbles and incomplete. Just got to be careful, informed and perceptive. I leant also not to be greedy or put all eggs in one basket.

 

[Lemonpeach]

Foreigners dying to buy our properties until the absd has to be set at 60%.

Meanwhile sinkies want to buy foreign properties? For what?

Unless you have maxed out 2 GCBs with you and your spouse name, you have little business buying overseas properties.

If those properties are any good their locals or other rich men would have bought it already, no need to promote to or wait for you. Don't bring your sinkie mindset overseas.

Agreed.

The ones offered are residues - not good facing, poor locations or good but expensive.

For SG, I think we are done. Fairly balanced portfolio for us. I'm worried how SG going to weather the decoupling. If countries go on bilaterals, business hubs becomes challenging. Local demand is insufficient to propel momentum.

 

[esandwich]

Foreigners dying to buy our properties until the absd has to be set at 60%.

Meanwhile sinkies want to buy foreign properties? For what?

Unless you have maxed out 2 GCBs with you and your spouse name, you have little business buying overseas properties.

If those properties are any good their locals or other rich men would have bought it already, no need to promote to or wait for you. Don't bring your sinkie mindset overseas.

diversification. cost of ppty investment in sg is way higher than overseas.
appreciation growth could be better.

 

[LAMtopia]

I would recommend investing in equities rather than property. Unless you have a very good property advisor and someone to manage things for you on the ground, you are better off investing in the equity or bond market.

 

[Bumperbee88]

Is the property a condo or villa or townhouse?

Beach facing? Town?

Which year bought?

Financing by Dubai banks like Emirates NBD or others?

What is your cap appreciation YTD?

Thanks

Never never buy properties in thes sort of countries. Many have learnt expensive lesson over the years.

 

[Lemonpeach]

I would recommend investing in equities rather than property. Unless you have a very good property advisor and someone to manage things for you on the ground, you are better off investing in the equity or bond market.

Now, only into certain US stocks, Japanese. Wondering about certain Chinese stocks. No SG ones.

Rest into BTC, gold, properties. Property not for immediate appreciation but more as a second home, Airbnb, etc.

 

[born2fly]

what the

150k lost like that?

Yup... as I only paid 10% they claim no refund long story short they wanted me to pay up the 1.5 millions and wait for future development but it's almost 10 years since the cancellation

 

[wwenze]

Bought a project called "Canals" in sports city during the peak, and the US bank crisis came, all property project was halted. Exactly like what happened to China now....

The project was canceled, and I lost 150k deposit

expensive lesson

My advice, do not buy any unfinished project unless you want to take risk

Hmm...

Hmmmmmmmmm...........

 

[Milodrink]

Foreigners dying to buy our properties until the absd has to be set at 60%.

Meanwhile sinkies want to buy foreign properties? For what?

Unless you have maxed out 2 GCBs with you and your spouse name, you have little business buying overseas properties.

If those properties are any good their locals or other rich men would have bought it already, no need to promote to or wait for you. Don't bring your sinkie mindset overseas.

Many cannot buy real Role so buy fake to self happy.

Natural selection at best for those aim foreign properties where land is abundance.

 

[Bumperbee88]

Heard many bought properties in BolehLand. After a decade still lost alot. But TKL still sell the idea.

 

[drkcynic]

diversification. cost of ppty investment in sg is way higher than overseas.
appreciation growth could be better.

So much risk involved, currency risk, regulation risk, country risk, scams, bankruptcy, yada yada. All that with no guarantee of profits. What is the 20 years ROI of properties? For local properties the ROI is clear for all to see.

Diverification is to reduce risk no? Getting foreign properties is adding risk for no good reason.