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IC is doing more than great

Discussion in 'Dubai property' started by georgihh, Aug 25, 2008.

  1. georgihh

    georgihh New Member

    I have visited an estate agent today and they give me the following prices
    Studio 60000 DHS per year
    One bedroom 80000 per year
    Studio 530k +
    One bedroom 750k +
    And they said the land registration is taking place and they expect 15-20% price increase by the end of the year.
    End of the year
    Studio 600k+
    One bedroom 850k+
    Great news
     
  2. dalvir bains

    dalvir bains New Member

    Hi georgihh & everyone, I agree with your prices 90%, your prices are o.k :) & Thats great news , but i am still saying that studios are worth 650k - 700k and 1 bedrooms are EASILY worth over 1 million dhms, there is nearly ZERO availability! :confused: no-one is selling untill dubailand is completed ( & should'nt sell! )
    The rental prices you quote are great, what other development commands these fantastic rental returns?:rolleyes:
     
  3. georgihh

    georgihh New Member

    Yes I agree with you
    This was the problem couple of months ago too many units on the market and not enough clients.
    Since two months ago everything changed and as you said nothing available or very few.
    The problem is that around 15000 units are handed over and takes some time for the market to move the prices up.
    On top of that IC has been bought mainly by people living in Dubai and never been advertised properly internationally.
    Only recently Nakheel started promoting the development because of the Lake District.
    I expect slowly but surely the price per sqft in IC to reach 1500dhs per sqft.
    Look at Discovery gardens has been advertised in Pakistan heavily and the prices went up by 70% in less than six months.
    But you never know maybe we can reach 1500DHS per sqft in a very short time
     
  4. dalvir bains

    dalvir bains New Member

    Rentals have dropped since we posted these views
     
    Last edited: May 1, 2009
  5. Demoniise

    Demoniise New Member

    Hi Georg,

    Those rents are they for 1 cheq or 2?
     
  6. georgihh

    georgihh New Member

    2-3 cheques I think
     
  7. anwar khan

    anwar khan New Member

    Thanks alot georigh to come up with such a fantastic news....Good luck everyone!!!
     
  8. kauser

    kauser New Member

    Rental in Spanish cluster

    My one bed apt is due to be vacated in mid october & the agent I am currently using is saying I can expect DHS 65k in four cheques when new tenancy is taken. Is this a bit low? It will be rented unfurnished. Should I use a different agency. I live in UK & therefore am unable to go to different agents to check out prices! The current agent also charges 5% commission which is deducted from my 1st cheque.
    Can anyone advise of other reputable rental agencies!

    Thanks
     
  9. Demoniise

    Demoniise New Member

    Did your current tenent ask to extend the tenency kauser? and if he had would the rent have been the same?
     
  10. Yasir

    Yasir Banned

    Kausar .. 65K For a One Bed is on the lower side .. The Ongoing price is 75K for 2 or 3 chqs .. so it wud be better to go for a different agency ..

    and as they are charging 5% from u as well .. u shud change as soon as possible .. as here in Dubai No Agent Charges From The Owner ..
     
  11. Yasir

    Yasir Banned

    You can contact me for anymore reviews .. shire_786 at hotmail dot com
     
  12. muqarabin

    muqarabin New Member

    So Yasir, if the agent doesn't charge a percentage fee, how does the agent make his/her own money???? Just wondering!
     
  13. anwar khan

    anwar khan New Member

    Hi muqarabin, agents charge the tenants

    Regards,
     
  14. muqarabin

    muqarabin New Member

    Anwar,

    Thanks for the info. Very strange though, but then again is it not the same. i.e the agent takes the rent off the tenant and takes a percentage off it and gives the rest to the owner???? So who is being charged? The tenant of the owner.

    Case of Potato Potaa-to me thinks
     
  15. anwar khan

    anwar khan New Member

    Put it this way, whatever an agent charges a tenant hasnt got nothing to do with the rent agreed between you and your agent...Suppose your agent finds a tenant for you for 70k then you are supposed to get that 70k without any deductions so that means thats your tenant's headache to pay the agent his/her commission on top of the agreed rent...hope you will find it helpful muqarabin
     
  16. iced

    iced New Member

    IC is the cheapest place to live in dubai and the rents are going up due to the satwa effect. Prices may continue to increase from these inflated prices but once Ajman comes online in a couple of years these rents and prices should fall.

    These are really high prices for basic accomodation which a lot of people cant afford along with other living expenses and short term look to continue up.

    Once prices start to correct in dubai IC will probably be low risk due to the fact that it is the cheapest place.
     
  17. Bilal Usman

    Bilal Usman New Member

    Prices in IC

    About Prices in IC

    Lastest Selling is 730K and 760k Recently for 1 Bedreoom in CBD-Lady Ratan ( Lokandwala Project) Project Completed and Waiting for Handover.

    Classic Apartments( Shieffield) CBD ( UnderConstruction) 3-4 Floors Completed, total G+10 Building, any prices Ideas there for 1 Bedroom ( Without Balcony and Study) ?
     
  18. kully sanghera

    kully sanghera New Member

  19. maria_ad

    maria_ad New Member





    Hi Kauser,

    Yes change your agent as soon as posible.... here in Dubai, theres NO AGENT charging commission from the Owner/Seller....its is the buyers'/clients' pocket.

    Market price for IC Studio AED 60K/yr. For 1 Bed AED 75k/yr. It can be 1 or 2 cheques.

    I hope it will help.

    Cheers!!
     
  20. maria_ad

    maria_ad New Member


    Hi Mr. Muqarabin,

    As per Dubai Tenancy Law, the tenant/buyer is the one who will pay commission to the agent. If the owner want to give some amount to the agent for renting out his flat then its up to him.
     
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