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1 Better Mortgages

Better Mortgages Your update on the mortgage market and the best buys right now Issue 3


Contents 4. The Mortgage Market Now A local finance expert shares his insight into the buying market

10. Landlords: know your rights

6. Buying in Dubai?

Renting out property in the UAE can be a tricky business: protect your assets with this handy guide

A Better Homes senior residential agent gives us the lowdown

12. The young family

8. Buying in Abu Dhabi? Why the capital’s property market is the one to watch

Produced by: HOT Media Publishing FZ LLC Managing Director Victoria Hazell-Thatcher Publishing Director John Thatcher Advertisement Director Chris Capstick Editor Hazel Plush

Sarah and Tim got on the property ladder when their family grew – this is their story

Designers Adam Sneade Andy Knappett

Advertising enquiries chris@hotmediapublishing.com 04 369 0917 / 050 456 9938

Production Manager Chalitha Fernando

Editorial enquiries editorial@hotmediapublishing.com 04 364 2876

Advertising Manager Sukaina Hussein Deputy Advertisement Manager Faaju Fatah

Cover and interview images Nasir Rauf, nasirrauf.com

16. The investors With four mortgages under his belt, part-time investor Dani de la Ossa has some useful tips to share

20. 50 great homes to buy We’ve found the best new properties on the market – start your search right here...

Reproduction in whole or in part without written permission from HOT Media Publishing is strictly prohibited. HOT Media Publishing does not accept liability for omissions or errors in Better Homes magazine.

15,205 July-Dec 2012 BPA Consumer Audit

Issue 4


4 Better Mortgages

The Mortgage Market Now

Sam Wani, general manager of Independent Finance, shares his insight into today’s home loan market How has the property market changed since 2012? The current state is buoyant. Lots of end users have realised that it’s easier to buy than to rent. If you look at property prices in 2008, they had fallen by 60% by the beginning of 2012. Since the beginning of last year, prices have risen by 22%, and this year they’re expected to rise 21%. But even if we continue at this rate, it’ll still take us three years to reach the price level we were at in 2008. For end users it makes better sense to get a mortgage and buy a Issue 4

property because the interest rates are low, so their monthly payments are lower than if they were paying rent. There was talk of banks only being able to lend a set percentage. Has that been implemented? Not yet. We are expecting the central bank to come up with a mortgage cap. There’s a general consensus that it will be 75% loanto-value for first time buyers and 60% loan to value for subsequent mortgages. This is for expats. For UAE nationals, it will be 80% loan to value for first mortgage, then 70% for subsequent mortgages. Will they implement it? We don’t know, they haven’t so far. They should have done by now. Maybe it’ll take time. Do you foresee further regulation for mortgage lenders? Yes, of course. They are working on a mortgage law. For example, if you were to re-mortgage your property now, you would have to pay a huge penalty to the bank that has given you the mortgage – it could be anything between 1% and 5%. But with a new mortgage law, chances are that the penalty might be reduced or waived. In fact, some lenders already waive penalties, so now you can pay off your mortgage and not pay a penalty, or move to a different lender and not pay a penalty. Are banks lending on off-plan projects? Yes, they have started, but so far they’re restricting themselves to Emaar and Nakheel. Most banks are reluctant. We don’t expect them to start lending for small private developers for the

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10 Home 10 Home Help Help

Better Mortgages 5

foreseeable future, but they might start looking at big organisations where the risk is low. Is there a trend of banks loaning to specific sections of the market? If so, which sections are they targeting? Everyone wants to lend to salaried people. Banks are more reluctant to lend to business owners or those that are self-employed. It’s not because of the risk element, but because the process of getting approval is much more complex. It makes more sense for sales guys in mortgage departments because the turnaround can be much quicker, whereas it’s a long drawn-out process with business owners. If you’re in law, private equity, stockbroking or real estate,

you’ll struggle to get a mortgage because the risk is very high. Are banks competitive when trying to lure mortgage lenders from other banks? Do they have special terms in place? Yes, there are lots of benefits for people to move between banks. They are encouraging the mortgage to kick-start these. If you have a mortgage with a bank and you are not happy or the rate is very high, you would want Fee Structure to move. That trend is growing Structure Fee mortgage Structure market. quickly, asFee is the People who want to move will get better rates or discounts. At the end of 2012, Dubai’s banks were flush with liquidity. Is that still the case?

Yes, definitely. And the liquidity levels are rising as the overall economy is growing. There has been a big development recently: the UAE stockmarkets are now termed as an ‘emerging stockmarket’ in the MSCI. They used to be a frontier market. Now they can attract investment, which means that right away big funds will give 7% of their investments for emerging markets. That’s half a billion dollars, which will rise to three billion in the next two to three years. These are just big funds; when they come in, other investors and smaller funds come in too. Liquidity will increase – and as the economy is growing, we expect the interest rates to fall. Inflation is also quite subdued. independentuae.com

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6 Better Mortgages

Buying in Dubai?

also rising, which in turn leads to higher prices. One of the most significant areas for price growth is Dubai Marina: properties there are all going up in value. Which have shown the most price growth, villas or apartments? The growth is experienced mostly by area, as opposed to property type. People are looking to areas that are promising for investment – for example Dubai Marina, Emirates Living and Downtown. Do you foresee the price rise continuing? Yes, the prices will go up for the next two years. But until all of the new projects are handed over, the prices are never set in stone.

Sachin Das, senior residential consultant of Better Homes Dubai Marina, gives us the lowdown on the city’s buoyant market How was 2013 been so far in terms of price increases? 2013 has seen a big rise in prices, especially towards the higher end of the market. There are a lot of sellers and buyers in the market because of the boost of confidence, and there are many new launches. Buyers who have missed the boat in the past want to buy now, and that will always affect prices. What factors contributed to the price growth? Which areas showed the most growth and why? It has been driven by the new crop of launches and products – there is a lot of interest in buying these days. The quality of property is Issue 4

How important are the new laws put in place by RERA, and which of its initiatives have been the most effective? The new laws are very effective in this buying market because RERA is there to safeguard the deals. RERA started a new concept of blocking the property before we proceed for transfer. The buyer’s money is much safer. Everything is

‘Buyers have got their confidence back. They see prices rising... People have money and they know where to invest it: they’ve learned from the mistakes of the past’

governed by RERA now, and the needs of both the buyer and seller are taken care of. RERA protects, and provides security for the deal. Are there any new laws set to come into place that consumers should be aware of? There will be new laws and regulations on buying off-plan properties. For example, when a buyer takes ownership of a property, he won’t be able to put it on the market the next day – a certain period of time will have to elapse before it can be re-sold. Do you feel there is confidence in Dubai’s property market now? Yes, buyers have got their confidence back. They see the prices rising on a monthly basis. People have money and they know where to invest it: they’ve learned from the mistakes of the past. Are investors returning to the market or is it all end users? It’s 80% investors, 20% end users. Which nationalities are buying the most property? There is a lot of investment from the Asian community, Indians, Pakistanis and Arabs. End users are mostly European nationals and a few Asian nationals. Do you see more being done to attract more foreign investors? Yes. There are lots of new launches coming up, and the bid to host World Expo 2020. Dubai is seen as a safe haven for foreign investors. Is the rental market buoyant too? There is a lot of demand for rental. The market varies by area, but landlords are mostly experiencing good returns on their investments.


8 Better Mortgages

Buying in Abu Dhabi?

five or six are for this location. The next popular is Al Reem Island and then Saadiyat Beach. Al Raha Beach is our fastest moving location at the moment in sales. The location, quality of the product, and completion of the development affect the price. How does the market compare to that in Dubai? I’m now managing an office in Dubai, so I have a good overview of the market in both cities. The Abu Dhabi market is maybe a third as busy as Dubai, which is a very buoyant market, with lots of sales happening. They have more properties to offer, and much more variety for buyers.

Loshini Lawrence, operations manager of the Better Homes Abu Dhabi offices, shares her knowledge of the capital’s property market

Is there still a shortage of available homes in Abu Dhabi? Yes, there is a huge shortage of properties for expats in the right location. There is no shortage of property in inland areas, or in high-rise developments, but there is an imbalance of properties in places like Al Raha Beach. It is being addressed, but there is no immediate solution.

How has 2013 been so far in terms of property prices in Abu Dhabi – have they increased? Over the last three months, we’ve seen huge interest in properties in Abu Dhabi that are sea-facing – and due to the limit of supply, prices aren’t going down. But they’re not increasing dramatically either. The selling prices of properties in Abu Dhabi haven’t been reduced as drastically as in other parts of the UAE.

Do Abu Dhabi’s property laws differ from Dubai? Yes, the property laws do differ as we do not have the Real Estate Regulatory Authority (RERA) in Abu Dhabi. As such, laws could differ from community to community, although generally ownership laws are the same in the sense that certain communities are designated for expat or local ownership.

Which areas of the city are proving most popular? There is huge demand for Al Raha Beach. For every ten sales, at least

Do you feel there is confidence in Abu Dhabi’s property market? Yes, it has more end user owners than investors, unlike in Dubai

Issue 4

which is a more transient market. In Abu Dhabi, owners tend to have been here for a few years. Are there many investors returning to the market or is it mostly end-users? It’s mostly end users. 15-20% of our sales are to investors, while 80% are to end-user buyers. Which nationalities are buying the most property? We have a lot of nationalities from Jordan, Syria, Lebanon that have lived in the UAE for many years. There are investors that bought seven or eight years ago when the market was booming, but they aren’t our main clientele now. Do you see more being done down the line to attract more foreign investors? Yes, there are initiatives to attract more foreign investors, especially on the business side. There is lots of international investment coming into Abu Dhabi, which then has a ripple effect into the property market. On the direct consumer side, not much effort has been made to attract foreign investors – unlike in Dubai, where you have targeted launches on Palm Jumeirah, for example. Is the rental market in Abu Dhabi buoyant for landlords? Absolutely. For the last few years, rental rates that have changed have been in older properties where rent has dropped because of lack of facilities, etc, but in newer areas – such as Saadiyat Island, Al Raha Beach and Al Reem Island – yields have kept close to 10%. It’s attractive for investors that have bought at the right time, for the right price.


10 Better Mortgages

Contract • Have a solid contract document in place, not a one pager (Better Homes rental contracts are 11 pages) • Contract should include a ‘no subletting’ clause. Have the tenant or company confirm in writing who is living there with him/her so he/ she cannot sublet • Every agreement with the tenant made should be in writing • Register the contract in the Ejari system with the property title deed (there is a government cost for this)

‘Be sure to do a site inspection after signing, to identify the tenants ’ Cheques

Landlords: know your rights If you’ve invested in property, ensure you’re clued up before renting it out... Vetting your tenant • Meet the renter so you can vet the person and identify him/her • Ask for bank statements and proof of income if you need to assess their affordability • Take a copy of the renter’s passport and visa when signing the contract • If you are working with an accommodation manager from a company or third party, take a copy of their company ID, passport and visa when signing the contract. Get a letter from Issue 4

the company detailing his/her occupation and stating that the person is authorised to sign the rental contract. If possible, meet the accommodation manager and the other company representatives together so they can identify and vet him/her • Do a site inspection after signing, to identify the tenants who occupy the unit. If the company starts renting more properties after the initial agreement do another site inspection

• If the contract is in the name of the tenant, make sure he/she gives you their own cheques to pay the rent • If the contract is in the company’s name, make sure the company’s details are on file and you have a letter from them confirming that the cheques have been given to the tenant • If a third party is paying the rental cheques, they should have provided a letter to confirm that they have given the cheques to the tenant for renting this property and obtain a copy of the third party’s visa and passport

Contact the professionals • Hire a reputable property management company to safeguard and maximise your investment with less hassle


UAE

WINNER

J TRUST ADVISORY FIRM OF THE YEAR, SOVEREIGN CORPORATE SERVICES JLT Q. What Trust services do you offer?

of international properties can be held under a single trust.

A. Sovereign offers specialist trustee services for the private

It may be advisable and is common for each property to be

client. We can advise on all aspects of setting up trust structures,

held by a single holding company and in some circumstances

including the drafting of trust deeds, and provide ongoing trustee

that has to be a “local company” which sits under the trust.

services of the highest quality. Our independence means we are

For example a Jebel Ali Offshore company has to be used to

free to source the best investment terms for the trust funds under

hold Dubai property and the trustee can act as shareholder of

our administration.

that company. The properties are then segregated from each other, so there is no crossover of liability, but they can then be enjoyed, managed or disposed of either together or separately.

Q. What is a Trust?

Trusts offer a lot of flexibility.

A. A trust is an arrangement by which property is transferred from one person, known as the settlor, to another person or corporate body, the trustee, to hold the property for the benefit of a specified

Q. Will I lose control of my assets?

list or class of persons – the beneficiaries. A trust may be created

A. When you transfer your assets to a trust, you no longer own

by will or in lifetime in which case assets are transferred during a

these assets personally and decisions about them will need to

person’s lifetime rather than upon death.

be made by the trustees in accordance with the terms of the trust deed. Many potential settlors are quite naturally wary of losing control of the assets. By using private trust companies,

Q. What advantages do Trusts offer?

foundations, family investment companies, as well as

A. For legal purposes the trustee is recognised as the owner of

traditional trusts, we can create structures that enable clients to

the assets rather than the settlor or the beneficiaries. Onshore

fulfil their dynastic objectives and retain an acceptable degree

clients could therefore mitigate income, capital gains, wealth and

of influence during their lifetime.

inheritance taxes in their country of residence by transferring assets to trustees located in an offshore jurisdiction. These options have recently been much eroded by anti-avoidance legislation, but

Q. Do trusts have any commercial uses?

may still apply for settlors changing their domicile, residence or

A. The lack of rigid formal requirements for the creation and

citizenship, or whose families are resident abroad.

operation of trusts, unlike companies, and the tremendous

But even without any tax benefits, trusts are a useful estate planning vehicle. Transferring all substantive assets and wealth into a trust or equivalent structure will ensure the smooth and timely transition of family wealth because settlors are able to oversee the transition during their lifetime and the trust arrangements will

flexibility of trust instruments make them a useful vehicle for many commercial purposes. Trusts have long been used in the context of pension funds, unit trusts or employee benefit structures and are a core element of many other commercial arrangements.

continue after their death. Trusts are particularly effective for those seeking to:

Firm Profile

Gain enhanced asset protection provided assets are not transferred

Sovereign Group’s core business is setting up and managing

into trust with the intention of avoiding a current or future liability;

companies, trusts and other compliant structures to meet the

Avoid lengthy and expensive probate procedures that generally involve a minimum of 12 months and cost up to 6% of the total value of the estate (more so if assets are held across several countries); Gain increased confidentiality because trust deeds, unlike wills, are not public documents;

specific personal or business needs of its clients. Typically these would include tax planning, wealth management, succession planning, foreign property ownership and facilitating crossborder business. Sovereign Corporate Services JLT has been licensed in Dubai since 1998 and is now one of the largest corporate services providers operating in the Middle East. We are a registered

Make complex arrangements for the distribution of assets, such as

agent for the free zones of Dubai, including Ras Al Khaimah

providing income for a spouse or for educating children;

(RAK) and Jebel Ali and have further expanded our presence in

Preserve family assets against mismanagement or spendthrifts;

the Gulf States by opening offices in Bahrain and Abu Dhabi.

Avoid forced heirship rules in civil or Shariah law jurisdictions, or

The first Sovereign office opened in Gibraltar in 1987 and

similar claims under common law principles;

the Group now has offices in over 25 international finance

Protect the weak by providing for infants, the infirm or the aged;

centres worldwide. We work with public companies, charities

Continue a family business where family members lack experience or inclination.

and professional law and accountancy firms, but the majority of our clients are individuals – expatriates, entrepreneurs, consultants, private investors and high net worth individuals and their families.

Q. What are the advantages of a Trust owning a property? A. The advantages are the same as with other trust property;

The content of this article is intended to provide a general guide to the

the protection or preservation of assets, avoiding succession

subject matter and does not constitute any form of advice whether legal

problems and estate planning opportunities. However, a portfolio

or otherwise.

John Hanafin Sovereign Corporate Services JLT Suite 801, Reef Tower Jumeirah Lake Towers Dubai, United Arab Emirates Telephone: +971 4 448 6010 Fax: +971 4 448 6011 Email: jhanafin@sovereigngroup.com www.SovereignGroup.com


12 Better Mortgages

The young family For Sarah and Tim Calladine, getting on the property ladder offered a chance to secure a home for their growing family – here, they share their advice for other first-time buyers

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Better Mortgages 13

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14 Better Mortgages

Why did you decide to buy? It was a good idea because the rents were going up. There were lots of conversations among friends about the insecurities of renting. Even when you find a good deal, the landlord can increase the rent and there seems to be a lot of grey area about your rights. Now that we have our daughter Scarlett, it’s great to have security, and to know we won’t have to move in 12 months. Many of our friends are worried about their rents going up next year, but we don’t have to think about that. It’s a load off our minds. Did you have to put down a large deposit? We put down a 15% deposit, which in the grand scheme of things wasn’t that high – I know that it was 30% at one stage. but it still felt large enough at the time! How did you find the process of applying for your mortgage? There were lots of hoops. We were in the dark when we started the application – there were a few surprises along the way, for example charges that we weren’t aware of in the beginning. We got our mortgage from one of the big banks, and they assigned one of their top mortgage guys to our case, which certainly made everything easier. We did some initial internet research at the beginning, and we spoke to our friends who’d been through it, but every case is different of course. The whole process took about four months. What kind of unexpected costs were there? Quite a few! We didn’t realise Issue 4


Better Mortgages 15

that we’d have to take out life insurance, for example. Also, there was a charge for applying for the mortgage: we had to put down about AED20,000. If you don’t find a house within a set amount of time, you lose a large amount of that deposit – a scary prospect. It really makes you assess how committed you are to buying a house – and it makes the process more secure for the bank, too.

‘Our friends are worried about their rents going up, but we don’t have to be. It’s a load off our minds’

How did you decide on your mortgage provider? We got a fixed five-year mortgage, which a lot of other banks didn’t offer. So the rate we pay now is fixed for five years. We were already customers of the bank, which worked in our favour: for example, we had to put down a smaller mortgage application deposit than we would have had to with other banks. How does the mortgage market here compare to the one in the UK? We don’t have a mortgage in the UK, so we don’t have first hand experience, but I would say that there seems to be more choice of products in Europe. I wasn’t really concentrating on the UK market when we applied for our mortgage, but when I spoke to friends in the UK they seemed to think that we were getting a fair deal. I think it balances out, really – the costs vary everywhere. Do you have any advice for other home buyers? Don’t take anything at face value. If your bank or estate agent give you a list of expected

costs, always budget for more. Invariably, there will be costs that you weren’t aware of – and it’s essential to be prepared. Luckily, we were fine, but there are stories of people that aren’t. I’d put an extra 15% aside, so you have a safety net. Always make sure that you are aware of your rights and the facts of the mortgage: it’s essential to be prepared. Be open with your bank and your estate agent, so that everybody knows where they stand. It’s a seller’s market right now, so you need to look out for the quirks that that brings – for example, there isn’t much negotiation between buyers and sellers. Do you feel comfortable in the house now? Oh yes – we love it. The hardest part of the process was signing off on the mortgage, and watching the money go out of our account. After 24 hours though, it’s all fine – the most difficult part is just pushing go. There’s no turning back! We’ve both rented here for nine years, and it’s such a different feeling when you come home to a house you own. You really feel like you want to nest, too – we’d never looked at a furniture shop before, but you have more pride when you own your own property. It was so important for us to have a secure family home, and of course when Scarlett came along we needed three bedrooms. For that amount of space, rents are so high that you may as well put the money towards your own home, and see it as an investment. Whether the market crashes or soars, you’ve still got a roof over your head. Issue 4


16 Better Mortgages

The part-time investors Dani de la Ossa and his wife Kathryn have ten years of experience investing in property in Dubai. Here, Dani shares the highs and lows of this tumultuous market

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Better Mortgages 17

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18 Better Mortgages

When did you buy your first property? In 2005. I invested in a serviced apartment scheme, when the idea first came to the city. I still have the property and I make money from it. At that time, Tameel and Amlak were pretty much the only two banks offering mortgages – and you could get a lot of money even if your salary was very low. How has the market changed since then? It is so much stricter now. In 2004 the Dubai Government came up with a freehold policy: you were able to buy property. The plan looked promising, and the banks would give anybody a mortgage. I was earning AED7,000 per month, and I was offered the option to take a mortgage of up to AED1 million. The market went mad. I took on some part time work as a real estate agent, but you couldn’t secure a price on a deal for more than 24 hours. Overnight, sellers would offer AED100,000 more than we had secured it for. People were coming from all over the world to buy villas on Palm Jumeirah, for example – but then the crash happened. Boom. And how has the market changed since then? It has climbed back up slowly, but the banks and lenders are much stricter. The requirements are a lot tighter – and your salary has to be much higher. 100% mortgages have gone of course too – although you can still get around 80% now. How do you feel about the proposed mortgage cap? I think it’s a good idea. It’s what Issue 4

the market needs, but I’m sure the banks will try to find a way around it. For example, by offering a mortgage for 30 or 40%, and then a personal loan to cover the rest. I’m not sure that it’s the best remedy, but we shall see. Instead, I think that the real estate industry should be policed more carefully, to stop rogue agents from hiking up the prices to get more commission. Do you rent out your properties or did you sell them on? I now have four properties – I have retained each one that I’ve bought. I rent them out through agents on a yearly basis, the traditional way. Kathryn also has properties, and she rents one of

‘I advise everyone to hire a financial advisor to look after their mortgage... It saves you so many headaches’ them out on a short-term basis to tourists. She manages the whole process herself, which can take a lot of time, but it’s very lucrative. Over the winter – the festive season in particular – it’s easy to rent out. You need good nerves to do it though: she negotiates much better than I do! Has it always been plain-sailing for you? We have had some problems – in one instance, we decided not to use an insurance broker. We took out a mortgage with one company that seemed to

offer a brilliant deal – but once we had signed, it was clear that the product wasn’t what they promised. The brokers actually lied to us, and we spent an awful two months getting out of it. Are there any areas of Dubai that are particularly interesting for investors? Dubai Marina is very promising. It is more expensive than other areas, but space is limited. There are only a few more plots where


Better Mortgages 19

they can build new towers, and there are lots of amenities nearby. There’ll be lots more development inland, but space on the coast is at a premium. Do you have any property elsewhere in the world? How does the mortgage market compare? There is no money to invest in Europe now: the market has shut down. But I can see that there are many more professional lenders

in Europe: the standard of advice and assistance over there is much better than it is here – the market is much more responsible. Do you have any advice for people thinking of investing in property? I would advise everyone to hire a financial advisor to look after their mortgage. I use Home Matters. They have a fee, obviously, but it saves you so many headaches. They study

your situation, and they present you with the most appropriate deal on the market. Also, I would recommend planning the timeframe carefully too. If you miss the allotted window to secure the property purchase, you will have to pay a penalty. Avoid doing business around Ramadan, public holidays, and personal events. Make sure you have easy access to the down payment too – sometimes it can take a long time to get that money.

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20 Better Mortgages

50 Great Deals... As the property market hots up again, now’s the time to bag your dream home in the UAE

Emirates Hills Phase 1

For Sale

Emirates Living

AED 35,000,000 5 BR

Ref # VI301110

Al Muneera

AED 1,900,000

Al Raha Beach

2 BR

Ref # AP319377

Al Muneera Al Raha Beach

AED 2,215,000 3 BR

Ref # AP319265

Ocean Terrace Residence Al Reem Island Ref # AP307277

AED 1,815,448 2 BR

Al Muneera Al Raha Beach Ref # AP305195

Issue 4

AED 2,100,000 3 BR


Better Mortgages 21

Al Naseem C

AED 3,500,000

Al Raha Beach

3 BR

Ref # AP304267

Saadiyat Beach Saadiyat Island

Al Raha Beach Ref # TH303047

AED 2,300,000 3 BR

Ref # AP303096

AED 8,502,500 5 BR

Ref # VI318906

Al Zeina

Al Muneera Al Raha Beach

Al Muneera Al Raha Beach

AED 4,586,600 4 BR

Ref # VI304102

AED 3,500,000 3 BR

Al Reef Downtown Building

AED 36,000,000

Al Reef Ref # RB316680

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22 Better Mortgages

Palace Tower T2 Dubai Silicon Oasis

AED 716,000 1 BR

Ref # AP319675

Burj Views C - East Tower Downtown Dubai

Arabian Ranches Ref # VI315868

Issue 4

Culture Village

AED 6,820,000 2 BR

Ref # AP319262

AED 2,225,000 2 BR

The Villa - Haciendas Dubailand

AED 8,500,000 5 BR

Ref # VI318949

Ref # AP318974

Saheel Villas

Palazzo Versace

AED 4,255,000 3 BR

Mirador Phase 2 Arabian Ranches Ref # VI314933

AED 6,999,995 6 BR


Better Mortgages 23

Townhouse Dubai Investment Park

AED 3,800,000 3 BR

Ref # VI158309

Lake Shore Tower Jumeirah Lake Towers

Jumeirah Village Circle Ref # AP307417

AED 7,500,000 5 BR

Ref # VI2931

AED 4,395,000 4 BR

Ref # AP319380

Manhattan

Luxury Villas Dubai Investment Park

Jumeirah Bay Tower (X1) Jumeirah Lake Towers

AED 1,080,000 1 BR

Ref # AP318798

AED 1,200,000 2 BR

Springs 14 (Springs Phase 1B) Emirates Living

AED 2,950,000 3 BR

Ref # VI318730

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24 Better Mortgages

Jumeirah Park Jumeirah Park

AED 4,650,000 3 BR

Ref # VI318070

La Riviera Estates Jumeirah Village Circle

Jumeirah Islands Ref # VI175401

Issue 4

AED 3,600,000 3 BR

Ref # VI316974

AED 2,700,000 4 BR

Meadows 9 (Meadows Phase 2) Emirates Living

AED 5,600,000 4 BR

Ref # VI293949

Ref # VI296580

Cluster (11-20)

Springs 15 (Springs Phase 1A) Emirates Living

AED 8,500,000 4 BR

Block 2C Jumeirah Village Triangle Ref # VI69962

AED 2,825,000 2 BR


Better Mortgages 25

Meadows 8 (Meadows Phase 4c)

AED 9,500,000

Emirates Living

5 BR

Ref # VI66964

Marina Heights

AED 1,650,000

Dubai Marina

2 BR

Ref # AP319329

Rimal 6

AED 2,800,000

Dubai Marina

1 BR

Ref # AP309437

KG Tower

AED 2,800,000

Dubai Marina

3 BR

Ref # AP305040

MAG 218

Princess Tower

Dubai Marina

Dubai Marina

Ref # AP286675

Ref # AP319714

AED 1,200,000

AED 3,480,000

1 BR

3 BR

Issue 4


26 Better Mortgages

Horizon Tower Dubai Marina

AED 2,500,000 4 BR

Ref # AP255493

Sadaf 1 Dubai Marina

Business Bay Ref # AP318533

Issue 4

Dubai Marina

AED 4,550,000 4 BR

Ref # AP78783

AED 1,850,000 2 BR

Ref # AP22150

Executive Towers Villas

Mesk

Terrace Apartments Mirdif

AED 1,350,000 2 BR

Ref # AP43740

AED 7,500,000 4 BR

DG-Building 69 Discovery Gardens Ref # AP318514

AED 640,000 1 BR


Better Mortgages 27

O2 Residences Jumeirah Lake Towers

AED 1,170,000 1 BR

Ref # AP318425

Burj Views Podium Downtown Dubai

Business Bay Ref # AP65546

Jumeirah Lake Towers

AED 2,495,000 3 BR

Ref # AP317199

AED 1,550,000 1 BR

Ref # AP293547

Churchill Residency

MAG 214

The Residences T3 (Tower 7) Downtown Dubai

AED 7,500,000 3 BR

Ref # AP177057

AED 1,280,000 1 BR

Arno The Greens

AED 2,000,000 2 BR

Ref # AP9040

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28 Better Mortgages

Meadows 4 (Meadows Phase 3) Emirates Living Ref # VI75235

AHAA Villa Barsha Ref # VI299741

Issue 4

AED 6,100,000 4 BR

Gazelle / Al Reem 3 Arabian Ranches

AED 2,100,000 2 BR

Ref # VI239304

AED 8,800,000 5 BR


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Better Mortgages Issue 4 Aug'13