CYPRUS Vs DUBAI

[EleN.e]

Dear all,

I am a first time buyer, living and working in London. I am currently renting but I decided to move on the property ladder. But with interest rates soaring, it is very difficult to take a mortgage and buy a flat (especially in London). As a result, I decided to look for alternative investment in countries such as Cyprus (which is my home country) and Dubai. I am thinking of originally investing GBP100.000 +/- and for a number of reasons (one being tax) I decided to focus on Dubai. It seems that you can get good capital growth and excellent rental yields if you make the right choices at the right time. With a range of properties under construction and numerous off-plans it is really difficult for me to take a decision (especially as I have never been to Dubai myself). Dubai Marina seems to be very attractive but I realise that there are disadvantages too. Also, City of Arabia seems to be a profitable investment with excellent returns in the future. If you were to choose a location which one would you prefer and for what reasons?

From your experience, can you comment on current situation if someone were to invest in Dubai? If someone were to invest in Dubai Marina, which plot of land would be preferable? Are there any pictures available, recently taken? I would appreciate your help.

Many thanks,

 

[Fizzypopp]

Dubai Marina tends to be expensive. Plus it has been going for sometime. Look for a location that is close to an area where you expect there to be activity long-term. Dubialand has its obvious attractions what with Universal entering the area, but it will not be a FREE zone as fas as I can see. Look at a FREE zone for tax purposes close to somewhere you will see people wanting to rent accommodation because it is close to something of 'interest' - work, play etc. There are plenty of areas to avoid that have no real incentives long-term. The best areas tend to be a little more expensive but that should pay off in the long run. You can get cheap property anywhere in the world but the question is 'who wants it after you and who wants to rent if you sit on it'.

Paul
[email protected]

 

[martinm]

try sportscity it has alot going for it an dubailand is right next to it theres alot happing there an you should make money on it an rent it out easly.

 

[arsalan]

Definately Dubai !

Various properties in Dubai have gained an appreciation of upto 200 % in the past 4 years. The main factor which has lead to this unmatched growth is the fact that Dubai has only recently established freehold real estate market, which is yet to mature. A lot of people have gained on this growth trend. The question is how long will this continue?

Being a center of attraction to various companies, the freezones, economic zones such as ports, a still very pre mature stock market, safety and security, tax free, huge concentration of high-net worth individuals, oil backed economy and growing attraction of tourists make this city, a center of attraction. Rents and property prices are high, but looking at where it is to get to in the coming years, it is much lower than its comparatives. This suggests that the market is still on an upward curve. Majority of Dubai residents still live on rented property. Affordability and easily availability of mortgages is now changing the trend to purchase accomodation.

The best properties to buy in Dubai at the moment are commercial properties, villas and cheaper residential units as in the near future there is a considerable demand for these properties with unmatched supply.

If you do wish to contact me for any other information please feel free to email. [email protected]

Regards,

Arsalan Tabani

 

[EleN.e]

Independent property consultants

Hi all,

Is anyone familiar with companies who operate as independent property consultants for Dubai?

Thanks and regards,

 

[charis]

Elen,

I'm a Cypriot who recently has bought in Dubai. As a Cypriot i can tell you that in the last 5 years property prices in Cyprus have doubled. Now, If you are buying a property (apartment or offices) then you have to pay 15% tax additionally. You can not find a cheap apartment anymore. Prices are on average 1000 CYP/ sqm. If you are looking for a property with sea view then be prepare to pay up to 3000 CYP/ sqm. For 100000 you can now buy a 2bedroom apartment. Dubai looks exciting on the other hand and may offers more in the future but you need to be very carefull. A lot of projects experience a lot of delays. Do not look at the price they offer you. Instead you need to do some research on the developer and on the area. If you are looking for an investement then look for offices. I believe that in the next few months there going to be more and more demand. If you want to contact me send me an email to [email protected]

 

[viewdubai.co.uk]

Dubai wins everytime.

People have made comments about Dubai being expensive, there are soem expensive property, but there are also some good quality low budget places. Definitely look into free zones for many reasos, tax, but also rental returns, and investment returns.

Set a budget and stick to it.

viewdubai.co.uk have a very good range of residential and commercial propety available at all prices, all in the freezones.

 

[Rob Partridge]

Hello to everyone. I live in Cyprus but would not buy here (and I've been here for 6 years!). For investment Cyprus is probably the last place I would buy. I have invested in Dubai. I think the days are long gone for investing in Cyprus. Personally I went for Sports City. The agent I bought through are based in Cyprus and cover obviously Cyprus, and also Dubai and Bulgaria. If you want their details just drop me a line [email protected]. Rob