Best Quality Building Dubai for Investment ?

[troubled soul]

There are many complain regarding the quality of Dubai real estate....
I want to know which is best quality building in Dubai for Investment ...
For start I start with
1) Burj Khalifa
I do not think there will be quality issue in this building ....Yes maintenance is huge which eat out your profit but quality is top class

2) The Sustainable City
Solar powered community with zero maintenance charges.........

What are your take on this ?
Kindly share your opinion on best quality Building in Dubai

Thanks

 

[manukahoney]

They all range from terrible to barely tolerable if you are looking for yourself. 10-year buildings will be in terrible conditions with constant issues with smell, leakages, noise insulation, mould and tired amenities.
Emaar and Select buildings are somewhat better quality, but still - anything older than 5 years is a risk, everything older than 10 is a gamble.

Everyone I know in Dubai ended up renting out their properties and staying in the hotels.

On the investment side - typical buy-to-let doesn't really work well here in terms of yield, everyone with money is playing the payment plan game from developers. Basically you buy 1-2-10 properties on the "presentation level" of development paying only 10% of the price (+4% gov tax) and then sell them on the later stages when the prices are 10-20-30% higher. But because you basically leveraged the whole portfolio using payment plan you can get 30-40-100% yearly income on your money. The risks are usual - you can choose bad units, the market can change, the developer can delay the process etc.

 

[Cloudbanck]

It totally depends from building to building, and it is very visible in secondary market prices. Good buildings will keep the value, whereas bad ones won't.

Overall I'd say building quality has improved a lot since 20-30 years ago, and keeps getting better, from admittedly a low level.

In most cities, it's the location that matters for the price, not the age of the building. I mean in Stockholm the most fashionable districts were built in the 1890s to 1920s, and in central Zurich you got buildings from even the 13th century. If a building is in a good location, it makes economic sense to maintain and renovate it.

Same thing is happening in Dubai because of economic incentives - buildings in attractive locations get maintained and renovated, and increasingly keep and increase their value. And in totally hopeless cases, buildings will be demolished and rebuilt instead of renovated, but more and more - for economic reasons - buildings will be built good enough from the start so they won t need to be demolished.

 

[Martin Everson]

What are your take on this ?
Kindly share your opinion on best quality Building in Dubai

You need to see the building with your own eyes. You will quickly see the black mold on the aircon outlets - RIP your lungs. The problem is the interior fit and finish and general quality of materials is 9/10 times horrendous but looks good from afar on website pictures. It's all made to look good but not last any period of time.

You need to remember that property is a degrading asset. From the day you buy it to the day you sell, it will require constant money for its upkeep. Hence it needs a good quality of construction and fit and finish in the first place. The problem in Dubai is the interior build quality is generally very very poor. There is a good reason buyers often ask who the builder was i.e was it EMAAR or other decent builders and opt for properties with "upgraded interiors" - This is code word in Dubai for interior that will last more than 90 days. And there is a reason why EMAAR make it known the construction project is by them - there is simply way too much substandard projects out there and they know it. Also people that own Villas for example often have to have an annual handyman maintenance plan with a provider as build quality is typical from bad to very very bad. Repairs and maintenance are mostly centred on fixing problems with the initial construction on an annual basis. You need to factor that into purchase of any villa if your in that market btw.

Everyone I know in Dubai ended up renting out their properties and staying in the hotels.

Yes I was one of them who ended up renting. When I moved to Dubai I had bought a $60k 1 bed - site unseen back in 2004 if I remember. When I took delivery it was obvious I could not live in it or rent it out. The kitchen tap turned on and then could not be turned off. Water would not drain from shower and bath tub rocked side to side when you stood in it. Plus the toilet basin tipped over when I was sweeping the dust left over from the construction away - it was not even connected or mounted properly. And the rest is history I left Dubai a short while later due to other issues with landlord .

Btw I had at the time been on many apartment visits for a few new build rentals around Dubai Marina. I had agents open bathrooms and handles had broken away or were wobbly, doors that did not close, brand new stainless steel sinks that where rusted, kitchen cabinets that were not straight and tiles on floor that moved when you walked on them.

P.S I had hoped quality has improved in Dubai but I doubt it now .

 

[pomegranate]

Undoubtedly, the quality of most of the buildings built in Dubai in the last decades is pretty poor. However, things seem to improve with better build quality and attention to detail, particularly at the top end of the market with developments like Bluewaters, The Address, or La Mer. What I have seen there, it is incomparable with all the buildings in Dubai Marina built quick and cheap only a couple of years ago.

I wouldn't be surprised to see the market getting even more segmented in the next few years ago: top-end flats in exclusive location, villas, and cheap/old flats having completely different market dynamics.

 

[JohnnyDoe]

Those who beg to be scammed deserve to be scammed

 

[pomegranate]

Dubai Marina: 4y=~+30%

Bluewaters: 4y=~+110%

La Mer: 4y=~+80%

Source: Propertyfinder.ae

 

[EuroKiss]

Is it possible to buy an apartment in Dubai with a foreign company? E.g. you get a company registered in Bahamas buying a property (or an entire development) in Dubai.