Even in palm Jumeirah some villas have low quality and most funny part comes when you buy property and find the service/maintenance charges . They are like day time robbery.If you want to have a laugh at Dubai property market. Pick a home you like and call up the agent and offer 20% below asking price and see what they say .
Dubai market has been a joke for some years now. Everything is overpriced and fixtures and fittings are of low quality in my experience. Low quality stainless steel kitchen sinks that rust and everything is knocked together by slave Indian laborers.
Hi @Konstanz ,What is average fees / margins when you buy real estate in Dubai with cryptocurrency?
I see there are services who do that, but there are no price indications
No, it's physical cash only.Can you use the same OTC desk method to cash out crypto to your own (personal or business) uae bank account ?
Can Emaar any amount of Cash without asking for the source of the fund? I attach the Emaar Installment Payment PDF below.Hi @Konstanz ,
in reality no developer is accepting Bitcoin directly.
All the Bitcoin Payment is always marketing from the Real Estate Brokers.
So what they do in reality is they put 5% on the real fiat price and do the OTC on your behalf. It's a rip off.
The way to go is to arrange with the developer (let's say Emaar) cash payment and arrange the OTC by your own.
We can link you with reliable institutional OTC desk's that charge 2% only starting from 100k AED volume.
Used them several times for 5-10m AED OTC deals for one time purchase as well as frequently for 400-600k AED downpayments.
Not possible. You need to make payments to Kraken first.
Cash is KING in UAE.Can Emaar any amount of Cash without asking for the source of the fund? I attach the Emaar Installment Payment PDF below.
Can someone put some light on this?
Or I miss something?
Is there any way around it?
Please Do share.
View attachment 2598
During My search I find Ellington Properties | top real estate developer in dubai | property for sale
Is it real or some scam?
They claim to accept Bitcoin directly.
View attachment 2596
Thanks for your Reply.Cash is KING in UAE.
What they say and what actually happens on the ground are 2 different things.
When it comes to The First Group, Emmar, Al Habtoor, Damac and Nakhel. Those guys have the power to accept cash of any amount.
Crypto Volatility is 10% day average.
And 1% fee is high ??????
Everything is relative. I meant if you compare with OTC rates from crypto exchanges. For example, Kraken OTC fees are less than 1% for large amounts. Besides, if you want to cash out stablecoins there is no more volatility.
@CaptK @Fred Let's say I sell my coins and got EUR/USD in my Kraken account. Could I use it as a Capital contribution or as a loan to UAE company and eventually transfer it to the business bank account?
It's all the time the same.Thats exactly what I thought..lol. Complaining about 1% fee when price has probably moved 1% in time I have written this.