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Old April 18th, 2017, 10:20 AM   #36721
shotcaller
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Quote:
Originally Posted by cguria View Post
Anybody looking to buy in this market should be looking at not 6% but 8-10% yields on properties (apartments) that checks all the boxes of location, build, layouts and views. This may seem very difficult with premium properties but from my experience if you look hard enough and wait this is attainable.

Good to be back after a very long break from SSC - looking forward to discussions, giving updates on projects around Dubai and to answer your questions!

I've just started listening to some podcasts that discuss the global economy, www.theinvestorspodcast.com is one of them and very good information!
Are you referring to gross yields or net yields. I think its important to make that distinction as service charges usually account for 1-2% of the rental yield
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Old April 19th, 2017, 07:54 PM   #36722
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Guys, i am getting my unit handed over, i still need to pay 50%, i am a US citizen, what are good banks to get mortgage

Rama
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Old April 24th, 2017, 08:55 PM   #36723
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Quote:
Originally Posted by shotcaller View Post
Are you referring to gross yields or net yields. I think its important to make that distinction as service charges usually account for 1-2% of the rental yield
8% net or 10% gross is good IMO
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Old April 24th, 2017, 08:57 PM   #36724
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Originally Posted by ramki007 View Post
Guys, i am getting my unit handed over, i still need to pay 50%, i am a US citizen, what are good banks to get mortgage

Rama
Are you a UAE resident with a local bank account?
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Old April 25th, 2017, 09:49 PM   #36725
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i am not UAE resident and i dont have any bank account
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Old April 30th, 2017, 11:21 PM   #36726
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Personally I see Dubai as being dead where real estate prices are concerned.Alot of people made alot of money 10 years ago and alot of people also lost alot.

Prices are up,down,up,down with not much sign of the kind of stability you find in the west but then again Dubai is so different.Thousands of units are getting delivered plus the population is very transient so how can the market ever mature and become stable.

Personally I bought a couple of units in DSO 10 years ago and have watched that area grow and grow with now a newly announced Mall which will have 300 outlets plus entertainment.It's a city within a city and seemingly a great place to live however this doesn't seem to have a positive effect on prices.Lucky for me the £ has crashed so selling now in Dubai for me makes big sense because I live in the UK although I'll be sad not to have that link to Dubai anymore.

Instead I'll sit back and fingers cross will hope that Dubai becomes the amazing city it threatens to become and look forward to all the amazing projects getting finalised.Then again Dubai will never become 'finalised' becomes my guess is they will always build until they run out of land.
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Old May 1st, 2017, 12:16 PM   #36727
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What amazing projects.....?

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Old May 3rd, 2017, 12:22 PM   #36728
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What amazing projects.....?

I've seen plans for a new Costa Coffee in the marina.
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Old May 6th, 2017, 10:15 PM   #36729
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When I first starting posting here something like 10 years ago with another profile this thread was going all day long every day.Now it's like a ghost town.
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Old May 15th, 2017, 07:25 AM   #36730
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Anyone recommend me where i can sell some sea view land in bulgaria
its a place called biala near varna
thxs
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Old May 16th, 2017, 10:15 AM   #36731
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Quote:
Originally Posted by Green Hornet View Post
When I first starting posting here something like 10 years ago with another profile this thread was going all day long every day.Now it's like a ghost town.


I check in very rarely now - seems that all the excitement has gone.
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I cdnuolt blveiee taht I cluod aulaclty uesdnatnrd waht I was rdanieg The phaonmneal pweor of the hmuan mnid! Aoccdrnig to a rscheearch at Cmabrigde Uinervtisy, it deosn't mttaer inwaht oredr the ltteers in a wrod are, the olny iprmoatnt tihng is taht the frist and lsat ltteer be in the rghit pclae. The rset can be a taotl mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe. Amzanig huh? Yaeh, and I awlyas thought slpeling was ipmorantt.
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Old June 6th, 2017, 09:36 AM   #36732
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Qatar impact

I feel the Qatar issue will have huge impact in Dubai Real estate. I feel the whole middle east becoming unstable now.

Any Views ?
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Old June 8th, 2017, 02:57 PM   #36733
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I feel the Qatar issue will have huge impact in Dubai Real estate. I feel the whole middle east becoming unstable now.

Any Views ?
I am beginning to think so too, people won;t want to invest if the Qatar situation does not resolve soon, people will not want to live in fear of a potential conflict
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Old June 15th, 2017, 09:48 AM   #36734
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If the huge tower fire in London was indeed down to the cladding then whoever decided to install it obviously wasn't watching live Sky coverage on Dec 31st 2015 of the fire at The Address.They were also unaware of the other fires.
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Old June 15th, 2017, 05:55 PM   #36735
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Quote:
Originally Posted by Green Hornet View Post
If the huge tower fire in London was indeed down to the cladding then whoever decided to install it obviously wasn't watching live Sky coverage on Dec 31st 2015 of the fire at The Address.They were also unaware of the other fires.
Maybe they did ,....but did the give a toss?

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Old June 20th, 2017, 11:32 AM   #36736
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Grenfell tower in London was owned by the local council and managed by a committee consisting mainly of public servants. A classic case of a local government agency being so unaccountable and useless that they become criminally negligent.

No sprinklers, no fire hoses, no fire action plan, no emergency action plan for alternative accommodation, probably no insurance, no control or monitoring of the occupancy of the building (reports suggest all apartments were over occupied and even were sublet illegally to unregistered immigrants)

The reaction after the fire was also quite bizarre to watch and clearly media fueled. Can you imagine such criticism of Dubai being tolerated in the UAE media following all the cladding fires which have occurred. Don't recall anyone calling on the Sheikh to come down to the scene of the fire, hand over loads of cash and hug everyone. Disgusting media behavior in the UK! So disrespectful of the Prime Minister, who has to run a country, not micro manage a tragedy.
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Old June 20th, 2017, 11:50 AM   #36737
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Seems Qatar's woes are not about to end anytime soon. I wonder how many Qataris own property in the UAE and are now banned from residing there.

http://www.bbc.com/news/business-40338220
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Old June 20th, 2017, 05:21 PM   #36738
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Quote:
Originally Posted by True Blue View Post
Grenfell tower in London was owned by the local council and managed by a committee consisting mainly of public servants. A classic case of a local government agency being so unaccountable and useless that they become criminally negligent.

No sprinklers, no fire hoses, no fire action plan, no emergency action plan for alternative accommodation, probably no insurance, no control or monitoring of the occupancy of the building (reports suggest all apartments were over occupied and even were sublet illegally to unregistered immigrants)

The reaction after the fire was also quite bizarre to watch and clearly media fueled. Can you imagine such criticism of Dubai being tolerated in the UAE media following all the cladding fires which have occurred. Don't recall anyone calling on the Sheikh to come down to the scene of the fire, hand over loads of cash and hug everyone. Disgusting media behavior in the UK! So disrespectful of the Prime Minister, who has to run a country, not micro manage a tragedy.
Theresa May visited the scene but forgot to talk to affected people. Next day she sends her junior to talk to locals, however too late. Day after May visits again and get boo'd into her car.

Which bit was disrespectful for you?

Shes an incompetent introvert. I dread to think her negotiating the future of UK.
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Old June 21st, 2017, 12:08 AM   #36739
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I agree with True Blue. It's predictable that people will look at all angles to vent their anger and the PM is always a good target.This fire had nothing to do with Teresa May yet she seems to be the one getting all the flack.So many ignorant people shouting at her who should look for the real culprits.
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Old June 26th, 2017, 09:22 AM   #36740
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Quote:
Originally Posted by cguria View Post
8% net or 10% gross is good IMO
I've been on this forum since 2004 under a bunch of different names, yes this place has gone stone cold.

In the last 14 years or so I've built up a portfolio of nearly 50 rental units- that I still hold- in Dubai. I'm proud of Dubai for the most part.


Investor friendly?

One thing I see today however in the market is that there is not that investor support there once was. The support that enticed us to come and invest in the first place.


Rents and Much Needed Capital Appreciation

In order for me to buy into Dubai today I have to be convinced (by Dubai) that rents will increase over time. That the government supports this growth too.

Why?

Because ultimately rents (and only rents) determine my next sale price in Dubai. If rents go down, the capital value of my investment will follow.

Lack of capital appreciation is bad, and devastating to net worth over time, particularly with a mortgage involved.

Couple this with institutions such as the Dubai Rent Committee and the media allowing a general disdain for the LandLord and I get slightly nervous.

I am not being overly sensitive here, but we were told to come and put our money into Dubai way back when, with open arms.

I feel we have been sent mixed messages - are investors wanted in Dubai or not?



Mortgage products and Banks

With the fed rate (and therefore EIBOR) rising and rents lowering, the prospect for those investors who are leveraged in the market does not look great.

Leverage is good, banks should be as supportive as possible of the investor in this regard. A mortgage is an excellent growth tool. Growing the investor of course helps to grow Dubai.

I feel the mortgage market is EXTREMELY shark like here. I've seen all the tricks at sign up, that quickly turn sour, being used.

If Dubai really is investor friendly she needs to put a strong sense of social conscience on the lending banks today, right now, as the market begins to face the challenges of rate rises and lowering rents. This is not hard to do, they are profiteering in this area big time.


Collapsing yields

If you do get a high net yield I feel that today this is extraordinary in residential (8 percent net plus). We can manage this with a few tricks, like throwing in some furniture in our own portfolio, but let's say it is definitely outside the norm.


The effect of yield compression means as rents come down yields start to look very pedestrian in general. Any further yield compression and capital values will follow.

If rents stay steady capital values will hold at these lower (compressed) yields.

But But but but there seems to be no prospect at all (in a universal sense for Dubai) that rents, and therefore the all important capital value of your investment, will increase.


The million dollar question for me is...

Where will my growth come from over the next five years?


FX Rates Matter too-I also face a likely 20 per cent loss on my home country currency over the next few years to factor in too. Growth must be therefore 'at least' able to cover this.


Short version: More supply, lowering rents, costlier borrowing, poor mortgage market, Very bad investor sentiment & support- means poor yields and no growth prospects in Dubai medium term. Prospect of a weakening Dirham Long term too for some of us.


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Last edited by FutureViewDxb; June 26th, 2017 at 09:39 AM.
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