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Thursday, 28 August 2008
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Create partnerships, Find Dubai Investors, Discuss Dubai business opportunities here.
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by majidpucit123 | 22/07/2008 18:25 Show most recent message
Dubai Real Estate and Properties Dubai Real Estate Investment and Properties. Have you invested in Dubai property, or considering an investment there? Do you want to know how to purchase property in Dubai, or want to share your views and opinions with others? Projects like Dubai Marina, Jumeirah Beach Residence, International City, DIFC, Palm Jumeirah and Jebel Ali and others are all discussed here. Legal issues related to Dubai property purchases, construction progress, land titles, residency permits
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Buying or bought a property in Dubai, the city of the future? Foreign investors are allowed to own real estate in Dubai, but prudence and research are required when it comes to land titles and ownership. Join our community of investors who have purchased property in Dubai and made healthy returns. Get advice on relocation and issues like land titles, freehold ownership, taxation, Dubai mortgages and more. Join in today.
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by Orson | 14/07/2008 13:03 Show most recent message
Finance and Legal As with any overseas property purchase, the most important part of the process is the financial and legal aspects. Since the mortgage market in the UAE is still immature, banks are cautiously lending on various developments. Interest rates are still high compared to European standards, but things are moving in the right direction. The legal services have been dominated by key players in the market, although the developers still have the upper hand with the contracts. Discuss the ownership laws, banking process, taxation and other relevant issues in this forum.
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Property ownership laws in the UAE are changing almost on a daily basis. The UAE property market started with a vague 99 year leasehold definition, but only on select projects. This was then extended to freehold ownership, but again only on certain projects. Land regulations and ownership was never clearly defined, and that deterred a lot of investors. Whether the property ownership laws are clear and concise today still remains a matter of opinion. If you’re up to date with ownership legislation, post your comments here and share your valuable information.
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Even though the property ownership laws have never been clearly defined, investors have been snapping up properties in Dubai and Sharjah without any legal consultation. Contracts still remain very one-sided favouring the developers with no respite for the purchaser. Solicitor firms are now coming into the limelight with the market being dominated by some key players primarily due to overseas investor interest and caution. How do you think the solicitors should take this matter forward? Have you bought a property without a solicitor? What would you recommend to fellow investors? Share you valuable insight and knowledge with others.
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The UAE mortgage and lending market had remained a very elite institution until recently with banks only lending to large scale developers. However, with the increasing number of developments and the slow growth of the property market, banks have been forced to open up their doors to end users and investors as well. Though interest rates are still relatively high, local demand has been strong for borrowing. More banks are offering higher lending today as opposed to a year ago, but repayments are still a burden. Which lenders offer the best rates? What developments do they finance? What criteria do they use? If you have any valuable insight, please share it with others here.
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by Orson | 19/07/2008 13:17 Show most recent message
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Property Insurance is still a new-age market for the UAE. Prior to the opening up of the property market, insurance was really targeted at the corporate and banking sector. Household insurance was not a known concept in the UAE. However, with the arrival of foreign investment (and eventually foreigners), household and buildings insurance has been on the minds of the government. Still, there are relatively very few providers in the market and the rates are not as competitive. What has your experience been with your purchase? Do you think insurance is necessary, or does it not matter? Will household insurance ever take off like in Europe and US? Share your thoughts and views here.
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The banking sector in the UAE is far advanced than many overseas investors think. Many local and international banks have representation in the UAE, primarily in Dubai. As there are no exchange controls, international financial transactions and transfers are relatively simple. Non-residents are allowed to open bank accounts in UAE, but only on the recommendation of a resident. Requirements vary from bank to bank, but the process is fairly simple. If you have had any good or bad experiences with banks in the UAE, share them here.
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UAE is really a "tax respite" for foreigners and locals alike. Having maintained a "no-tax" policy since its independence, freedom from paying any taxes has been one of the most attractive features of property investment in the UAE. From a corporate perspective, tax plays a different role. Different economic zones have been setup that are truly tax free where companies can take advantage of the legislation. However, a "tax-free" status is still limited to a set number of years after which it is reviewed. Have you got further insight into taxation, and how it affects overseas buyers? Are you an expert in the field? Share your valuable insight with others here.
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Investment Investment in Dubai
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Investment in Dubai - If you want to invest in Dubai or looking for Investors - Here is your Forum
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by leonardo | 11/06/2008 22:28 Show most recent message
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