PPRuNe Forums - EK Accommodation Allowance

Quote:

Originally Posted by AERO75 (Post 10151105)

I doubt purchasing a property here, is a good deal at the moment. Even if you put your allowance in, which the company pays for you, it is still tough to take a profit back home years later. Reasons for this: oversupply, community fees, Eibor increase, future tax maybe, .........

Dont forget buying a property, will also not increase your flexibility, in case you wanna leave.

I believe HSBC and Emirates NBD offer mortgage products that don't require you to remain resident in the UAE, allowing you to keep and rent out the property should you decide to leave. I think you can maintain a UAE resident visa without employment here if the property value is in excess of 1M dhs?

I agree, you won't have much change left from the allowance (FO) each month after mortgage, life insurance, community fees, municipality tax, dewa, repairs (AC repairs in particular), and so on, unless you buy a small apartment. And this assumes you had the large deposit required in cash. But for me at the time, buying was the only way to enjoy living in Dubai and make it feel like home.