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Q.
Are there any condo hotel unit resales on the market
in Dubai?
A.
There are few if any resales as most properties are
still in the early stages of planning or construction.
Everywhere you look around Dubai, you see towering cranes
involved in building. In other words, we're at the very
beginning of the development cycle. Because developer
inventory is still available and so new on the market,
it will be a while before a significant number of condo
hotels are completed and original owners are ready to
resell their units for profit.
Q. How will resales work? If
I buy a condo hotel unit, will I be able to resell it
if I don't reside in Dubai?
A.
Just like selling condos anywhere in the world, you'll
be able to list your condo hotel unit with a local real
estate broker, await offers, go to contract, sell and
count your money. After that, all you'll need to do
is send Condo Hotels Dubai a note saying "Thank
you for selling me a great condo hotel. We're thrilled
with the profit we made!"
The
above questions were submitted via e-mail by a visitor
to www.CondoHotelsDubai.com.
The answers were prepared by Joel Greene, a licensed
real estate broker, who specializes in condo hotels
and the Dubai real estate market.
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