Q: Please tell me your story, how you did it (financing etc) and how its going? Whats is like to move there? Live there? hiBen... UK finance or Dubai finance? how much deposit did u put down, if you dont mind me asking...
A: I'm in the process of buying a property in International city to live in. I had to look around a lot to find one that was priced right. I think a lot of people put property on the market at 20% over the market rate and don't care if it sells or not. The returns from rented property are huge here - rents are unreasonably high for the price of the property. Getting finance pre-approved is expensive here - you have to pay the fees upfront whether you buy a property or not. The finance companies in Dubai are a cartel who have each have their own territory. You can't chose which finance company to go with as each development has only one finance company who will lend against it.
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