Property in Dubai
There has been a flurry of media excitement this last week focused on the property market in Dubai now that Tamweel, Dubai’s second biggest Islamic mortgage company by assets, won the right to repossess five homes in the emirate. Headlines have suggested that Dubai will become the next foreclosure hotspot where investors and speculator will be able to buy bargains.
However, talking up the repossession property market in Dubai is very unwise for many reasons which we will explore in this report. For a start, any repossessed homes will be a long time coming back to the market – what’s more, speculators and investors got Dubai into the mess it’s in, therefore you can guarantee that the powers that be will not want to welcome them back by offering them a veritable flood of repossessed homes for sale at bargain prices.
If you’re looking for a more realistic take on the property market in Dubai now that homes are finally being repossessed when buyers default on mortgage payments, you will find it here. Any fantasies you harbour for picking up an offshore island in Dubai for a rock bottom price may be damned however!
Property in Portugal
There’s no such thing as an affordable property really is there, after all a property is the most expensive thing most people ever buy?! But then there are ways to get your hands on a more reasonably priced piece of real estate. For example, you can buy at auction, you can but a renovation project or you can buy abroad in a country where their property is more affordable in relative proportion to the nation in which you currently live.
And what about combining all of these ideas and buying a renovation property in Portugal, perhaps at auction? Move away from the popular Algarve region and Portugal is still among the most competitively priced country in Western Europe for property. Heading off the beaten track and looking at properties other than new builds will reap you substantial dividends in terms of what you actually get for your money too.
There has been a flurry of media excitement this last week focused on the property market in Dubai now that Tamweel, Dubai’s second biggest Islamic mortgage company by assets, won the right to repossess five homes in the emirate. Headlines have suggested that Dubai will become the next foreclosure hotspot where investors and speculator will be able to buy bargains.
There’s no such thing as an affordable property really is there, after all a property is the most expensive thing most people ever buy?! But then there are ways to get your hands on a more reasonably priced piece of real estate. For example, you can buy at auction, you can but a renovation project or you can buy abroad in a country where their property is more affordable in relative proportion to the nation in which you currently live.
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