There is a renewed interest in opting out as the allowance, because of the major housing correction, has become a very reasonable option. As a family, I would be consider it but still a little wary, but as a single person, there is no doubt it is probably worth having a serious look. Once you opt out, you are out for good, and you could be squeezed like some in 2007- 2008, but to be honest Dubai will likely have an over supply for years to come. The fees and costs with paying on your own are always a consideration and to be honest the less stress you have in this place, the better. There is tremendous comfort in having the company looking after everything, and again, the less stress you have in this place, the better ! Read that again... Many people rode the wave on the property ladder in the boom years, just to be stuck with a very long term investment, with little option but to grin and bare this place-like it or not...as i look in the mirror
The hassle and expense dealing with the mortgage companies are staggering. The mortgage rates are grossly inflated in the middle of a property implosion. The reason is the lack deposits, risk spread, defaults and market liquidity; high rates are really the last thing this place needs, but it's a sad reality.
If you plan to spend more than 5-7 years, I would look buying or renting. A single person can rent or buy a great two bedroom, in a good location within the allowance. A hot topic among most of the single FO's now.
Having said this..... the less stress the better. Don't forget
