Dubai special- Getaway
1 - 18 of 18 Posts
Joined
·
522 Posts
most likely they will not, they will talk about the culture and the people + mabye the economic growth or other crap like that
Joined
·
712 Posts
i think theyve got their line's crossed or something.... reckon it's a coincidence that 1.6km's is one mile?
Joined
·
557 Posts
I can see what Dubai is trying to do but I think one of the major factors that MAY contribute to a potential lack of success is its CLIMATE.
I've looked at the figures.
Who wants to be in a place where the average max in Summer is around 45C, with overnight "lows" of 30C with stifling 90% humidity? I have friends there and they just desert the place during the Summer.
It's just too much.
Las Vegas gets hot but does not suffer the humidity of Dubai.
Can they air condition the entire country? Probably!
I really wanna see this 1600m tower. What can you do with the upper floors? They look as large as my lavatory!
Cheers,
Adam
I've looked at the figures.
Who wants to be in a place where the average max in Summer is around 45C, with overnight "lows" of 30C with stifling 90% humidity? I have friends there and they just desert the place during the Summer.
It's just too much.
Las Vegas gets hot but does not suffer the humidity of Dubai.
Can they air condition the entire country? Probably!
I really wanna see this 1600m tower. What can you do with the upper floors? They look as large as my lavatory!
Cheers,
Adam
Joined
·
76,996 Posts
i like Dubai because it has lots and lots and lots of reeeeeally tall buildings! the reason why im on these forums.
;-)
they have the $$$$ to do what they want. some exciting projects coming up.
the temps sound like a worry. ill be sure to visit in winter then.
cheers
;-)
they have the $$$$ to do what they want. some exciting projects coming up.
the temps sound like a worry. ill be sure to visit in winter then.
cheers
Joined
·
584 Posts
I've a better idea.
Let's charge them $50 per kilo for lamb. Then we'll be as rich as they are
Let's charge them $50 per kilo for lamb. Then we'll be as rich as they are
Joined
·
76,996 Posts
Joined
·
3,187 Posts
Dubai Dreams for Aussies
With capital appreciation at 18% and rental yields running at 15%, the United Arab Emirates state of Dubai is becoming one of the World’s investment hotspots. But how easy is it for Australians to invest?
Dubai has embarked upon some of the most daring construction developments in modern times. Dubailand is bigger than Disney Land, with six themed worlds and over 200 individual entertainment projects, while Hydropolis will be the World’s first underwater hotel.
These mega structures are bringing jobs to the region and attracting tourists (the number of visitors is estimated to increase from 5 million to 15 million by 2012) which, when combined with the influx of enterprises moving into the region, has resulted in a massive boom in residential property build and a situation where demand outweighs supply. As a result rental yields and property prices are soaring.
Why Invest?
Capital appreciation was around 18% in 2004 and, as an estimate on your return if you were to sell, many of the off-plan purchases have literally doubled in price between commencement and completion. Unlike the Australian market, Dubai rental returns have been running constant at around 15%. This is exemplified by the Government’s recent intervention to cap rental increases at 15% to the end of 2006 in an effort to slow the speed of inflation created by the short property supply.
In addition to the promise of high returns, Dubai offers investors a tax free environment. It is not a tax haven, but simply a country with no tax or tax department. The price of property is also more affordable than Hong Kong and Singapore, which have to date attracted Australian investment due to their tax status.
To buy a 100m² unit on the waterfront of the prestigious Dubai Marina will cost approximately $260,000, whereas a similar property in Singapore would set you back around $1,000,000. This relatively low property price makes the entry accommodation affordable, and without the taxation of 48c in the dollar you can see why interest in Dubai’s property market is rapidly gathering pace.
Location, Location, Location
With so much development on-going in Dubai where should you buy? Currently the most sought after locations include Dubai’s Marina and the Palm Islands, a palm-shaped development of 3 islands where numerous celebrities are believed to have purchased property. While the cost of a villa on the palm can be as high as $6 million luxury apartments in flagship developments like The Torch on Dubai’s Marina can be purchased for $302,000, with investors having access to the same facilities you would expect in a five star hotel.
What’s the Catch?
To date it has not been possible for a foreign national to own the freehold on a property in Dubai. This situation is now changing however as a statement in March announced the finalisation of the land registry legislation. With this hurdle removed, the only real obstacle to investing in Dubai is that you will need to have cash ready to invest. In Australia, mortgages for overseas property are not readily available and Dubai’s developers require payment by completion to fund the construction of their development. Therefore property is typically purchased and paid for over the term of the build. Your upfront costs will be around 20-30% of the purchase price, with monthly instalments throughout the term and a final payment upon completion. It is worth looking around for different finance options however as some developers have created their own schemes which are more flexible, for example, Dubai Select, a developer who has recently launched in Australia, offer a payment plan which lets investors pay in quarterly instalments.
Whilst few banks are offering finance on property in Dubai at this time, it is likely to change now that the land registry legislation is now being finalised. On the positive, the apparent lack of finance options is helping to keep prices low. The message seems quite clear - the best returns are going to be to those who get in early. Once mortgages are available and the ability to purchase property becomes more accessible, it is anticipated that prices will escalate.
Why Invest: In a Nutshell
All master-planning is Government controlled so the demand to supply ratio is managed, thus maintaining strong growth & returns
No capital gains or income tax.
The range of properties on offer is vast.
The quality of build is high.
Legal fees aren’t compulsory, but recommended.
The buying process is simple.
Flexible payment plans allow payments to be deferred following an initial reservation deposit.
80% of property available is still off-plan which means investors can purchase on attractive interest free instalments.
Prices are attractive and very affordable by other countries standards.
Capital Appreciation has risen between 15 - 25% annually.
High rental yields on completed properties.
Three year resident visas are available with non-UAE.
With capital appreciation at 18% and rental yields running at 15%, the United Arab Emirates state of Dubai is becoming one of the World’s investment hotspots. But how easy is it for Australians to invest?
Dubai has embarked upon some of the most daring construction developments in modern times. Dubailand is bigger than Disney Land, with six themed worlds and over 200 individual entertainment projects, while Hydropolis will be the World’s first underwater hotel.
These mega structures are bringing jobs to the region and attracting tourists (the number of visitors is estimated to increase from 5 million to 15 million by 2012) which, when combined with the influx of enterprises moving into the region, has resulted in a massive boom in residential property build and a situation where demand outweighs supply. As a result rental yields and property prices are soaring.
Why Invest?
Capital appreciation was around 18% in 2004 and, as an estimate on your return if you were to sell, many of the off-plan purchases have literally doubled in price between commencement and completion. Unlike the Australian market, Dubai rental returns have been running constant at around 15%. This is exemplified by the Government’s recent intervention to cap rental increases at 15% to the end of 2006 in an effort to slow the speed of inflation created by the short property supply.
In addition to the promise of high returns, Dubai offers investors a tax free environment. It is not a tax haven, but simply a country with no tax or tax department. The price of property is also more affordable than Hong Kong and Singapore, which have to date attracted Australian investment due to their tax status.
To buy a 100m² unit on the waterfront of the prestigious Dubai Marina will cost approximately $260,000, whereas a similar property in Singapore would set you back around $1,000,000. This relatively low property price makes the entry accommodation affordable, and without the taxation of 48c in the dollar you can see why interest in Dubai’s property market is rapidly gathering pace.
Location, Location, Location
With so much development on-going in Dubai where should you buy? Currently the most sought after locations include Dubai’s Marina and the Palm Islands, a palm-shaped development of 3 islands where numerous celebrities are believed to have purchased property. While the cost of a villa on the palm can be as high as $6 million luxury apartments in flagship developments like The Torch on Dubai’s Marina can be purchased for $302,000, with investors having access to the same facilities you would expect in a five star hotel.
What’s the Catch?
To date it has not been possible for a foreign national to own the freehold on a property in Dubai. This situation is now changing however as a statement in March announced the finalisation of the land registry legislation. With this hurdle removed, the only real obstacle to investing in Dubai is that you will need to have cash ready to invest. In Australia, mortgages for overseas property are not readily available and Dubai’s developers require payment by completion to fund the construction of their development. Therefore property is typically purchased and paid for over the term of the build. Your upfront costs will be around 20-30% of the purchase price, with monthly instalments throughout the term and a final payment upon completion. It is worth looking around for different finance options however as some developers have created their own schemes which are more flexible, for example, Dubai Select, a developer who has recently launched in Australia, offer a payment plan which lets investors pay in quarterly instalments.
Whilst few banks are offering finance on property in Dubai at this time, it is likely to change now that the land registry legislation is now being finalised. On the positive, the apparent lack of finance options is helping to keep prices low. The message seems quite clear - the best returns are going to be to those who get in early. Once mortgages are available and the ability to purchase property becomes more accessible, it is anticipated that prices will escalate.
Why Invest: In a Nutshell
All master-planning is Government controlled so the demand to supply ratio is managed, thus maintaining strong growth & returns
No capital gains or income tax.
The range of properties on offer is vast.
The quality of build is high.
Legal fees aren’t compulsory, but recommended.
The buying process is simple.
Flexible payment plans allow payments to be deferred following an initial reservation deposit.
80% of property available is still off-plan which means investors can purchase on attractive interest free instalments.
Prices are attractive and very affordable by other countries standards.
Capital Appreciation has risen between 15 - 25% annually.
High rental yields on completed properties.
Three year resident visas are available with non-UAE.
Joined
·
63 Posts
I made sure to miss it.CULWULLA said:
1 - 18 of 18 Posts
Join the discussion
Join now to ask and comment!