My experience with buying and selling in Dubai.
Brett Alegre-WoodChairman, YPC Group
Hello,
During 2004 I visited Dubai for an International Property Exhibition and during a quieter period of the exhibition walked round and collected some information via some exhibitors on property in Dubai. Back at the hotel and during some time off I read what Dubai had to offer and travelling round this wonderful Emirate I really did love what I was seeing.
The place had a great buzz to it, there was lots to do in terms of entertainment, some super restaurants and of course the weather was excellent. The five days there made me seriously think about buying somewhere in Dubai. So more research when back in Spain made me eventually find an apartment in Dubai Marina with views to the Marina itself.
I made the reservation and was given first class customer-service and had the purchase contract sent over to me. The reassuring thing about Dubai is the stringent laws which aid both the buyer and seller in the property industry. I signed the contracts, send them to a solicitor in Dubai to check things through and make sure everything was legal and then it was time to celebrate the purchase of my first property there.
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The development was off-plan and was due for completion in December 2006. There was a slight delay so this gave me some time to think about maybe marketing it for sale, even though I was looking to keep it initially. A few weeks later I had a buyer so decided to proceed with the sale and walked away with a decent profit.
The bad news was that I had to go out to Dubai to sign the relevant paperwork, which meant another week in this exhilarating place combining the sale with a family holiday!
Gary Lewis
International Sales Consultant
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