Yes Sinful Dubai is setting the same trends what west has offered to attract millions to generate billions.
Sir what barakat you see in our beloved country with such high ratio of Alcohol consuming Islamic Republic country. Well the debate is too long and i think discussing these things we will deviate from the topic.
Regarding investing in Istanbul. One thing to remember while investing in overseas is only invest in countries with CAPITALISM system OR you must have the in-depth knowledge of Democratic System of that country very well.
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Also one thread from Wadda Saeen with the subject "Switch B17 investment... " has become sticky despite being closed.
Dubai is seeing a lot of investment. I would recommend investing in Dubai because of the EXPO 2020 coming up as I mentioned in https://sellanyhome.kinja.com. Also, there are a lot of new projects that are under construction. A lot of foreigners and tourists are coming into the country this makes it a great place for investment.
A really good way to invest your money is to buy new houses. This one you cand rent it and obtain money monthly.
I found https://korter.ae/, here are listed all new residential assemblies from UAE.
Dubai have a lot of opportunities, but real estate market is one of the safest investments.
Not anymore for Pakistanis.
@ Siddiqui, Dubai is ranked world number 4 tourist destination hosting 16 million tourists every year.
It is again attractive as prices are at the lowest level , almost of 2008-09 stage. the effects of Expo 2020 and relax residency laws making it more attractive.
in areas like Marina, JLT, Greens etc one bedroom investment is best at this time, easily giving 7-10% rental returns and always in demand, plus sometime undermarket rates pop up from motivated sellers and if one is in touch can take very good deal.
Dubai as real estate investment heaven has lost its luster. Primarily because all the black money from India, Pakistan, Russia, UK can not find its way to Dubai because of new international laws and treaties.
No wonder Dubai property prices and rental is declining fast for past many years despite Expo 2020 hype. Now that 2020 is there, the million dollar question is...
Ab Tera kia banay ga Kaliya?
What will happen to DXB property after Expo hype is gone.
The speed with which expats are fleeing UAE, screws tightened on free money novement across borders, and others like Turkey entering into competition, this artificial glitter of Dubai will disappear within days.
@Isloo sb, its your thoughts that Expats are fleeing UAE, may be some of your neighbors or relatives came back to Pakistan, 89% of UAE population is expat and the year wise breakdown is as follow.
Year Population
2019 9.77 million
2018 9.54 million
2017 9.40 million
2016 9.27 million
2015 9.15 million
2014 9.07 million
2013 9 million
2012 8.90 million
2011 8.67 million
2010 8.27 million
I am not a promoter of Dubai neither doing property business here, if 8-10 people of forum read this will not boost Dubai economy, but the fact is fact.
There was a point I added first, the prices are at 2008-09 level now, the people who sell and run away that time lost, but the wise people who purchased at that time gained up to 300-400% profit in coming years. The situation is same again now....
Expo 2020 is addition on top of lowest prices and its not a few days event that come and gone, it will start from last quarter of 2020 till first quarter of 2021, the impact could be afterward as millions of investors and potential tourists will visit, it could be home for many of them afterward.
The last but not the least, Dubai is a solid reality if one accept or not, Its not oil dependable economy like other GCC. The world class infrastructure, entertainment for every class, law and order is there already in top class condition which will always attract people to live in Dubai.
Now in festive season, try any website to find room in Dubai Hotels, if you are lucky will find any out of 130,000 registered Hotels rooms in Dubai, even in Air BNB people renting apartment rooms in far away areas at 40-50k PKR /night, do you think people are mad visiting Dubai. You made it like war is starting soon and people are flying away from Dubai.
Its true due to tighten law of money laundering world wide ; dubai is no longer a heaven any more to park / invest money in real estate precisely for pakistanis.
- Due to heavy taxes imposed and high living expenses thousands of expats have either left dubai or least sent their families back home due to which rates of properties have fallen very much and at the same time apartments for rent are vacant and owners are willing to sell/ rentout at lower prices.
The recent crises can be seen in Danube properties where thousands of apartment owners failed to pay their monthly installment and are struggling for refunds.
If a new built house of 6-7 Marla in G-10-11 Islamabad come down to cost of 1-1.2 crore I will just buy it, will not calculate how many people of Peshawar leaving Islamabad and what is tax imposed in Islamabad, as I know the infrastructure and potentiality in this sectors of Islamabad will remain and will pay me back. Dubai investment at prime locations that I indicated at this time is in same example.
Sohail sb,
From where ever you've copied this statistics, it is the total population of UAE by year and not just expats population. However, I take your point.
Secondly, even a novice demographer will tell you that you do not judge population decline by absolute numbers, but by population growth rate.
Third, my information about Dubai market is not based on repatriating neighbours and relatives, but on web search.
Finally, every one has his/her own reason to invest. I am not pushing my advice to anyone. But my personal view is that Dubai property market will not revive anytime soon. It has been declining at the rate of 8% per annum and continue to do so in 2020 and beyond. My assumptions are based on:
- restrictions on black money transfers
- new taxes, increased cost of living and declining job market
- slowing economic growth rate
- over-supply of new houses/apartments
@isloo, if 89% of the population is expat what trend will the data give, you mean all of sudden locals start producing more kids and expats left the country ?
we may twist the things as we like but suggestion was based on the fact that the prices are at lowest level like 2009 and the main areas of Dubai are and will remain in demand, its for people with ready bucks to catch the deals, not for off plan far away areas.
Again bound to put my favorite rule in property "buy when every one is selling and sell when every one is buying".
Another important factor in timing : for property XYZ the person purchased 4 years back was a loser doesn't necessarily means the person purchase today the same property XYZ will be loser also.
I quoted you example of Islamabad G-F sector, which economic crises or any crises make this sector prices goes down ??
Stay away from UAE property, people faced 40 to 45% decline in prices and rental including my relatives
Stay away from UAE property, people faced 40 to 45% decline in prices and rental including my relatives
My year old post about decline in UAE property still holds true. Dubai's Titanic is sinking at 8% per annum and it will continue for years. It's time to adandon the ship, it's already late but not too late. The least you can do is not to make new investments.
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