.... was just thinking that why doesnt one think of putting some down payment and taking a loan in dubai and buy an appartment to live while flying for flydubai??? Rate of interest is somewhat around 7 percent... and a decent house in marina (1000-1400) 2BHK costs around 2mill dhiram (which is fine for a young couple with no kids or 1 small kid). so if someone can put a downpayment of half a million dhirams, then one can pay about 16000 dhirams P.M. as emi for the home loan, and whenever one wants to pull out of dubai in say 3-6 years, he can sell it off and carry his riches home
now now... i know its an ideal world case, and most ppruners would be smart to think like that, but i just wanna know the glitch here.... where is the catch??? cuz i somehow know there is a catch somewhere...
some potential glitches:
a) you lease the property for 99 years..... so what?? you're only investing.
b) the property market is gonna crash..... but whatever the king has done has worked till now, from the airline to the various projects,has worked well. And even if the bubble bursts, i fail to accept that one will sell after 3-6 years at a depreciated price..and even if you do, well it was as it is your HRA....
c) inflation of rentals.....if you have bought your residence...it does guard against price rise in real estate rentals.... now you WANT the prices to rise
p.s. i dont live in dubai... this is just some numbers i could pull off the net... someone suggested me bhomes.com as a great site for home hunting... and also checked a couple of bank sites for interest rate numbers. so if you have any other accurate numbers.. feel free to reply!