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Opting Out EK Accomodation

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Opting Out EK Accomodation

Old 22nd Feb 2015, 14:34
  #1 (permalink)  
Thread Starter
 
Join Date: Feb 2015
Location: dubai
Posts: 19
Opting Out EK Accomodation

Hi everyone, relatively new joiner here.

I just do not like the place EK has sent me to live, and it looks there's no other solution but opting out.

Any tips, clues or advice will be much appreciated.

Thinking about renting, not buying.

Thanks and have safe flights.
Ana_Cleto is offline  
Old 22nd Feb 2015, 15:32
  #2 (permalink)  
 
Join Date: Apr 2003
Location: UAE
Posts: 953
Are you single or married? Do you have children, pets or both? How long are you planning on being in Dubai? More information will bring more useful answers!
BigGeordie is offline  
Old 22nd Feb 2015, 16:02
  #3 (permalink)  
 
Join Date: Apr 2014
Location: Sandpit
Posts: 57
Also, dare we ask, where are you being housed atm? If its a location like DSO or Layan, then considering opting out, imo, would be crazy.
ChillinInTheDesert is offline  
Old 22nd Feb 2015, 16:38
  #4 (permalink)  
Thread Starter
 
Join Date: Feb 2015
Location: dubai
Posts: 19
Hi guys, thx for quick answers.

I'm married, 2 kids, no pets...

I live in a villa complex, but I would not mind to change it for a nice apartment in an also nice place, or a villa somewhere else. It's not DSO, it's not Layan...I wish!

I keep hearing that renting here in Dubai maybe quite tricky, but...we wanna move.

Thanks in advance.
Ana_Cleto is offline  
Old 22nd Feb 2015, 17:22
  #5 (permalink)  
 
Join Date: Jul 2000
Location: Dubai - sand land.
Age: 50
Posts: 2,585
If you're in Meydan Heights labour camp then I can understand why you want out!
White Knight is offline  
Old 22nd Feb 2015, 18:02
  #6 (permalink)  
 
Join Date: Jun 2005
Location: MIDDLE EAST
Posts: 1,040
Ana

Property prices have pretty much stagnated throughout Dubai these last few months, with some areas dropping slightly to effect a sale. Rentals, despite what you may read, are also struggling as more and more units are finding their way into the market. There is also quite a lot in the construction stage. I would not be too surprised if we see prices slip this year and possible into the next as supply outnumbers demand.

My advice. You've already moved in and sustained costs associated with that. Hang in for the next 6-12 months and see where the market is heading. Look at your present place as temporary while you research what deals are around. Although you don't wish to buy, it may be a good idea if you intend doing at least 10 years as the Company will be paying at least the interest on the mortgage plus some of the capital. There are some good deals around from developers who need to clear stock. You will need around 20-25% deposit plus 4-5% for extra costs. You could well end up buying in the lows before prices rise in the run up to Expo. Although renting gives you less commitment to Dubai, it also leaves you at the whim of the landlord and with a family and two kids, you'll probably end up subsidising your allowance. It would would work for singles or married couples but with kids in a decent area, not so sure. Subsidising a mortgage on your own home is one thing, doing it on a rental is another!

There'll be differing viewpoints so take as much advice as you can, including those on the line. Don't do anything rash, it's early days and you're in free digs. Just one question though. Were you shown this accommodation during your interview?

Good luck in your final decision.

Harry
harry the cod is offline  
Old 23rd Feb 2015, 04:38
  #7 (permalink)  
Thread Starter
 
Join Date: Feb 2015
Location: dubai
Posts: 19
Hi all, and thanks for replies.

You never know for how long you come, but I sure did not come for a visit. Don't think I will retire here, but the 10 years line mentioned seems very plausible. Anyway, who knows...

No Harry, we were shown a unit in Garden View Villas, behind Ibn Battuta Mall. Right now people are being moved from there by EK somewhere else; a good friend of mine just made his move to DSO.

Been here more than a year already and I have to say that we are reasonably happy in an overall, but pretty disappointed with the accommodation. We were told in the interview that they would do as much as in their hands to meet our needs...and one of two: there is not much in their hands, or they just put people in the first vacant spot they find, like shuffling cards.

I could give you examples, not only mine, of housing that make little sense considering family and personal circumstances, and I could also say that simply swapping homes among individuals, or giving the right thing, would make a lot of them more happy. It just cannot be that hard to hit the target....there's a certain amount of people that would live happy in my place, and whose house would fulfill my needs. And I am talking about pilots joining at the same time, or very close.

Yeah Harry, thinking about buying too, just waiting to see what prices do, and making numbers.

Also heard that banks will consider your personal case and let you go with less than a 25% down payment, don't know if true or myth. Also concerned about rumours that not foresee a bright future to that contractual clause named housing allowance.

Renting gives you more flexibility, but it seems that you may get trapped in a landlords caprice. Anyway I've been told that some agencies will somehow warrant a constant, fair and not crazy rent rise, against a nice fee of course, but again this is something I don't know if real.

Thanks again, keep surveying...
Ana_Cleto is offline  
Old 23rd Feb 2015, 06:07
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Join Date: Jun 2006
Location: Europe
Posts: 136
Ana,

couldn't agree more with Harry.

I was in very much the same position as you, although not with kids.

Take your time and make an educated decision wether you want to move out of your "hassle" free environment.

There are fairly decent places to be rented at a reasonable price (reasonable meaning within your budget, not what it is really worth.) even with a family. JVT/JVC etc...

Also look at the real estate laws, choose a reputable agent. Dealing with landlords in Dubai can be hit and miss. Have had bad and very good.

Good luck
Mach_Krit is offline  
Old 27th Feb 2015, 16:00
  #9 (permalink)  
 
Join Date: Feb 2015
Location: Dubai
Posts: 6
If you can, then 'opt out'. It's a 180K+ bonus to your salary each year. That amounts to at least 15K dhs per month and that increases after you upgrade. If you are not in the situation to 'opt out' due to family or whatever then obviously don't do it. But if you are single, it's a no-brainer in my opinion.

Prices are relatively low right now. It's a good time to buy, maybe not the perfect time but close. Don't try to ''time' things perfectly, it's too unpredictable. But make sure you only buy in certain areas. DIFC, Dubai Marina, Shk Zayed Rd and perhaps a few other places.

Getting 15K dhs added onto your salary every months is something will benefit you massively over time. Any place you buy would have to drop 180K dhs each year, for you to lose out financially. You get a 44K Euro, tax free bonus to your salary each year.

There are some potential pitfalls to buying property in Dubai but the upside is amazing if you are smart. If you are living in a place and get an accommodation allowance, then things would really have to become very bad for you to not make money. I don't recommend this for pilots with families though, not enough allowance to provide a villa in most places. But a single pilot who will not be having kids in the next 2 years, it's a good choice. Don't buy 'off-plan' though, even though the Laws have changed for the better.

PM me if you want the 'skinny' on what to do and how to do it. I'm not a realtor or anything like that, just a pilot at EK. I have no vested interest in anyone buying property in Dubai, just my opinion about the accommodation allowance that is hugely beneficial if you can take advantage of it. It's not for everyone but it should be for all single 'everyones' for sure.
p101 is offline  
Old 1st Mar 2015, 17:32
  #10 (permalink)  
 
Join Date: Jun 2004
Location: Varies!
Posts: 727
p101

I hope you pay more attention to the briefing package than you do to the posts. Ana is not single. She is 'married, 2 kids, no pets...'

Not withstanding that minor oversight, SZR, Marina and DIFC are all expensive. Value is buying in places slightly out that will become more established in the next 5-10 years. That's where you'll find bigger apartments that would accommodate a family. The places you mention would be 2 beds at best with the allowance.

Sports City, JLT and JVC are areas that I would consider if just joining. There are even some reasonably priced villas just out from Arabian Ranches that offer great space for the same price as some apartments in Downtown and the Marina area.

I'm also not in total agreement with you that prices are 'relatively low right now.' Relative to what? They have stabilised and in some cases reduced, but low?
BYMONEK is offline  
Old 1st Mar 2015, 21:47
  #11 (permalink)  
 
Join Date: Sep 2014
Location: Dxb
Posts: 111
Prices are relatively low ?

They are not but when they are .. Loans will be more difficult to obtain due demand and new laws
Am NOT Sure is offline  
Old 4th Mar 2015, 03:21
  #12 (permalink)  
Thread Starter
 
Join Date: Feb 2015
Location: dubai
Posts: 19
Yeah, P101, married, two kids

Anyway thanks for your advice, I'll take it into account, still researching...

Fly safe guys.
Ana_Cleto is offline  
Old 5th Apr 2015, 21:45
  #13 (permalink)  
 
Join Date: Feb 2015
Location: Dubai
Posts: 6
ByMonk, I wrote that post to all who were reading the thread and that was quite obvious. Maybe you have an agenda and that is fine but don't pretend that what I wrote wasn't truthful or at least my opinion.
Why would you attack me for presenting my view regarding the Accommodation Allowance?
Prices ARE LOW by comparison to past prices. That is for certain. I was astounded to read what you wrote regarding prices in Dubai as compared to say, most other places. No kidding, Dubai is an anomaly but that doesn't mean that prices aren't good as compared to even 1 year ago.

My friend has several apartments in Dubai and he is wishing to sell but can't find a buyer BECAUSE they are few buyers now. Hence, the Property Market is slow and prices are listed as lower for sure. But very few people are buying right now. The Russians are gone, the Iranians are deciding to invest in their own country, the Americans don't want anything to do with Dubai and even the lunatic Brits are realizing that Dubai is a facade. But there are millions of Middle Eastern people trying to find a safe haven.

I don't agree with the past Market prices in Dubai but reality is reality. I think property prices in Dubai have been way too high ever since 2005 but the Market decides what is the value. If people buy at whatever cost, then that is what dictates the price. Heck, you can purchase a great place in the Marina or DIFC, a one bedroom for a relatively decent price now.

IMHO, the prices are at a decent level now, just wait until the USA or Saudi starts bombing some closer countries and you will see the prices in Dubai hit the roof. Dubai is the last refuge for many people within 1000km of Dubai. It's perceived as a safe haven. (not that I totally agree with that but once again, perception is sometimes reality).
p101 is offline  

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