I am interested in buying in Dubai. I hope to work there and plan to maybe rent a room. I am looking around the Burj Dubai (Business Bay ) area for an apartment or Arabian Ranches for a a villa. Prices are so high I am getting concerned and I was wondering
which banks people have their mortgages with, I am finding it really hard to get anywhere with the UK banks (here in the UK)as they keep saying I have to contact the Dubai based offices, but I end up getting no reply to my email or they ask me to call them!!
whether anyone has used the financial adviser out there called Globaleyegroup - have you found them helpful?
do you think there will be a property price correction soon?
Would be interested to hear of any recent experiences in buying! Spark
If you are looking for finance in Dubai, Global Eye are a good firm to use, but there are brokers in the UK who provide the same service, here in the UK.
One such good firm is called rational FX you can contact them from their site www.rationalfx.co.uk call them and ask for their mortgage advisor called ian. He is quite good and i am presently using him to help one of my clients find finance in the UAE.
Regarding property price correction, corrections are inevitable in all markets, but in order to neutralise the affect you have to purchase the right properties, for example if you buy a reasonable priced villa or a townhouse you re safe from any losses as there is a distinct shortage of villas everywhere in the UAE and likely to remain such in Dubai in comparison to the Demand out there.
Steer clear of the very plush 1-2 beds on the premium end of the Market i.e over 125-30k for a offplan 1 bed due for completion around the end of 2008 is asking for trouble. This is because there a lot of this type around and a lot are expected to come out at more of less the same time.
