Why Buy Even in a Flat Market? - It Halves Your Rent Prices are pretty flat in Abu Dhabi at the moment, you aren’t likely to get much capital appreciation in 2016. So why buy if your investment isn’t going to go up in value? I’m going to use an example of two units we currently have i) A Tala Tower (Reem Island) two bed apartment and ii) a three bed on Reef – both for sale at 2m, currently rented...
How To Halve Your Rent - Buy Buying your own property can as much as halve your "rent", here is how: I’m going to use an example of two units we currently have i) A Tala Tower (Reem Island) two bed apartment and ii) a three bed on Reef – both for sale at 2m, currently rented at 150K per year. I will assume a buyer with a 25% deposit (500k) with 1.5m financed at 4% over 25 years. If you would like this...
New Abu Dhabi Tenancy Tax - My Video Thoughts As I mentioned here last week it looks like there will be a new three percent tax on tenancy contracts, here are a few of my thoughts on it: Ben Crompton Managing Partner ben.crompton@cpestateagents.com Call - +971 50...
New Abu Dhabi Tenancy Tax So I am going to assume that you have all heard the news. Soon expat tenants in Abu Dhabi will have to pay 3 per cent extra on top of their rent. A new tenancy tax if you will. But how will it work? The new charge will be charged in monthly instalments and added to you electricity and water (ADDC) bills. It will add about Dh5,000 to the cost of renting an average two-bedroom...
1. You are about to move in to a new Property. What are the Landlord’s obligations to prepare it? If you’re renting residential property the law states that the Landlord needs to make it habitable, nothing more. There is no legal obligation on the Landlord to clean, repaint or pest-control the Property, but they often at least repaint as a matter of good practise. If the Property (or part of...
What to Expect from Cityscape This is your monthly Abu Dhabi Housing Newsletter. 3% Tax - I mentioned last week that the government is introducing a 3% tax on tenancy contracts, to be paid monthly through ADDC accounts. Q1 2016 Rent Report – View our report on what rents did in Q1 of this year here: Abu Dhabi Housing report Q1 2016 Updated Renting Guide – We have updated our Complete Guide...
Yas Island was catapulted onto the world stage in 2009 when the first Formula One Grand Prix was held there on the newly constructed Yas Marina Circuit. It had been designed as the playground for the people of Abu Dhabi with Hotels, a Marina, Ferrari World and a Links Golf Course. This article was also published in Abu Dhabi Week here Since 2009 Yas Island has continued to add more attractions, the...
Why are Abu Dhabi Brokers so Bad - And What Can You Do About it? It is a reasonably well known fact that brokers in Abu Dhabi are of a pretty low standard, more so than you would get in lots of other jurisdictions in the rest of the world (although real estate brokers get a pretty bad rap the world over). Most professions in the Emirate are done pretty well, why have brokers fallen so low? Quite a few...
Where Luxury Lives - What Neighbourhoods Make Up Saadiyat Island Whether leasing or buying Saadiyat Island offers something for everybody, including kilometres of unspoilt beaches, one of the best golf courses in the Arabian Gulf, an outstanding school, plus two 5* hotels with a selection of casual and high end dining. But what neighbourhoods make up the most prestigious address in the capital and what...
February Newsletter - Landlord and Tenant Disputes Escalate This is your monthly Abu Dhabi Housing Newsletter. You can see our January newsletter (it focused mainly on the new law and corporate housing issues). We are seeing an unprecedented number of disputes between landlords and their tenants, in particular the two month notice period for vacating a property. I have attached our Guide To Tenants Legal...