I am finally ready to buy a place in JBR. this is what I need:

2 bedrooms or more

Sea View

budget AED 1.8 mil

PM or email at max "at" neu-wave "dot" com if you have something available.
I am not interested in pool views or building views. I prefer JBR but something close in the marina with sea views will also work. Finished only.

Thanks in advance

Maxmus,

Congrats on getting it together for the purchase. I am sure you won't look back.

It would be interesting if you could share with us(if you like) your mortgage experience. Who's it through, what % LTV and what their view was on the premium, etc.

Cheers

Kenny

Those days are long gone Kenny. JBR has seen prices go up 50% in the last 12 months. I have a 'no view' 2 bed and wouldn't sell it for that price.

Yea, I havnt had much luck with JBR. prices are soaring, maybe they'll come down some day but I doubt it. I'll keep you posted on my progress Kenny. At this point however, it seems like it will take a miracle to get a decent spot in the marina.

Hi

I have been investing in Dubai for 2 years now.... If you do your homework you will see that Dubai is split into different areas of capital growth... The marina and the palms JBR have all rocketed in the past few years and although they will continue to do so, the return growth will be better off else where... Business Bay and the Old Town are really booming, Jeble Ali, there are a few good free zones down there too. There are some good payment plans so look out for different deals, The market was a little slow at the start of this year but I believe that it is moving again now so get in quick !

whatever you buy in Dubai you will make money - I dont believe in the rubbish that some people say that Dubai boom is over etc.... No way , the answer to that is take a look around of the amount of construction , investment and breath taking engineering that is being developed.. I find that the kind of people that are talking like that are the ones that haven't invested or haven't got the balls to invest ?

Trust me Dubai is cooking, just look around at other areas b 4 you buy... Dont get side tracked by wanting to live by the beach etc.... You can get to the beach easy from anywhere . Think of your investment and it's growth potential... Good luck !

Some very good points there JAM3Y. You're right, it's perhaps the end of the beginning and there is a slight maturity developing with hot spots like JBR and Downtown but returns may be as good elsewhere... just not so glitzy.

I think Dubai still has a long way to go firstly because supply will not be allowed to reach demand. Sheikh Mo just won't allow it. As soon as it approaches parity and yields fall to a point (that I'm sure they already have etched in stone somewhere) then construction will be forced to slow down. It's already started to happen with the granting of an amnesty to illegal workers. 200,000 left the country last year. Why??? To put the brakes on and prevent overheating and to limit supply.

The next big spike for Dubai is when the casinos come... and they are coming regardless of the culture. Why else do you think islands are being built offshore when there is so much land and coastline available? Casinos operate 24/7 every day of the year and the one problem Dubai has is that it is a hellhole for 6 months of the year.

One problem is that there are so many first time buyers here, mostly asian, who have never been in this position. Traditionally they just extend their property back home over the years but now they can earn enough to buy an apartment and they feel top of the world. But they will flood the market if there is a downturn, even if the yearly capital increase falls to 20% or so (and who in the west wouldn't bite your hand off for 20% year on year?). But again, if this sector of the population flood the market the royal family will put the brakes on that too. They'll just bring in a law for example that you cannot sell a property withing 2 years of buying it. It's their country they can do what they want.

Dubai won't be allowed to fail but you need to be in the market, no point in just watching and no point in wishing you'd bought in Arabian Ranches 4 years ago.

Yes good call.... Ive been watching the casino movements too.. I thought that the QE2 would become that of a cassino rather that a floating hotel... Everything you have said is absolutley true, I feel that your knowledge is greater than I thought with you call for a JBR @ 1.8..... Are you in real estate by chance ? Anyway keep intouch if you can .. Im moving to Dubai from UK in the next 2 months. If you know good information then send it on please , I hope all is well

j

Hi Jamy,

Where would you recommend to buy in DUbai. Do you know any good deals going?

Hi there ... I do know of several developments that will give you a good return over a 6 to 9 month period. Iv'e just joined this web site and Im not sure if Im allowed to recommend or not ?? Let me know...But remember the gains are there to be taken , too many people buy in great places in Dubai but dont look at the bigger picture of capital growth of other places like Old Town / Business bay etc.... People go mad for the marina and the palms etc.... which are fantastic but are not going to move as fast in growth as other parts.......

hi
u seem to have v good info
so u dont think that at this moment there so many huge mega projects and the supply by 2011 wud be huge , and eventually market should correct ?
the reason all the workers i mean the 200,000 or so becuase of the devaluation of the GCC currency that it is not worth it for them to work in this reagion any more .
our currecy lost 45% of its value in the last 2 years , and indian rupee revalue by over 35%.
also there are so many people out there who but just to sell and make money
i.e. it is an inflated market , quick money in out , who is the end users ?
this market is not ripe yet but by 2013 this market will crash worse than the U.S crash . I hope not for i am an investor myself and we are all in to make fast money , and that creates a bubble that will eventually pop. also i was in Dubai last week I saw that what is hot last year is not hot last week , people sell and go to new projects.

cheers