IC is holding the price

[mpat]

Good said Kully ,
Just a question for you , , , R u an owner at IC ??? Well I myself am owner in morocco cluster and in dubai as a resident of dub.
What I have noticed is that every corner of Dubai real estate is affected, or else you cant get 1 bed at the price of studios. and studios at around 300k. Just check gulf news and u can find many more offers at that prices and might go below . Truly speaking from my heart , I would like to see that prices go up in realty.
Reg

 

[kully sanghera]

we are all in a global downturn & every country is affected.

 

[BobbytheBuilder]

Kully so are you saying that the 1 bed apartments in I.C they have advertised for 500k arent available to potential buyers.

Hi mpat & all,

Yes i am a property owner, i own units in westside marina & 1 bedroom unit in i/city france, i have a resident visa for dubai , but i live in the u.k , i am in dubai quite often as its a stopover on the way to india, i have seen some ads in the gulf news advertising units cheap, like group 7 properties, but when i tried the website i couldnt find it!! obviously some units are SO late to be handed over some purchasers are just glad to get their monies back with distressed sales, however..... we are all in a global downturn & every country is affected.

 

[kully sanghera]

8888888888

 

[mpat]

Hi bobby , & all

I tried finding these so called 1 bedroom units, & the company "group 7" who was listing them in gulf news, but i tried finding their website using google search but had no luck, I am interested in purchasing other units in i/city, but i will only trust the major companies, gowealthy,etc. at least i know what they are offering would be 100% genuine, like the saying " if its too good to be true ( it probally isnt! ) i know that you can pick up a studio without balconie for around 400k dhms, I/CITY has seen a drop just like the rest of dubai,but it is a GREAT time to buy, even at 650k for a 1 bedroom, which were advertised 750k a few months ago, as when dubailand opens prices will ROCKET! as there will be 50,000+ jobs, wait & see! I have bought units in other parts of the world, & i have worries about them losing LOTS of value, but i still say i/city is a great investment.

Hi Kully

Today's listings shows italy cluster 1 bed on gr floor at 500k , and another on second floor , same cluster at 520k.
Bye

 

[kully sanghera]

Hi Kully

Today's listings shows italy cluster 1 bed on gr floor at 500k , and another on second floor , same cluster at 520k.
Bye

Go to gulf news for latest prices!

 

[sajburud]

guys i have a one bedrrom 950 sqfeet in engalnd cluster selling for 515k its rented for the whole year for 65k its my own soo if anyone intrested pls reply

 

[BobbytheBuilder]

Are there any fees to add on top of the 515K and have you got the title deeds.

guys i have a one bedrrom 950 sqfeet in engalnd cluster selling for 515k its rented for the whole year for 65k its my own soo if anyone intrested pls reply

 

[georgihh]

Are there any fees to add on top of the 515K and have you got the title deeds.

Studio in China(corner unit) with Title deed no extra charges - vacant or with tenant(40k)
Price 345k all in

 

[Tiger72]

Gents,
I have 2 bedroom appartment in international city phase 3. Al-jawzaa Building ,
structure work is finished and they are working on the compleation. Handing Over will be in June 2009. the flat spce is 1,119.5 Sqft and it will be provided with equiped kitchen and has apool view. the building will be provided by swimmingpool , gym , and 24hours security.
If any one interested in this area please contact me i am the owner:
Tareq
mobile: 050-2860541 Dubai

 

[investor_from_uk]

Studio in China(corner unit) with Title deed no extra charges - vacant or with tenant(40k)
Price 345k all in

I am just a bit baffled here trying to understand the current trend of the market. Both the apartments listed in the two different posts earlier in the thread have a rental yield of between 11 and 13 % (40K on 345K Studio & 60K on 515K 1 Bedroom). Nowhere in the world, especially in the current economic climate would you get such a yield on your investment. Just to add some perspective, interest rates in the UK and the US are almost next to nothing. So why are the prices so low now? Is it because these sellers have to sell off IC to pay back debts on something else (I can't imagine they'd invest the money else where now) or is it because they think that the IC rents and/or occupancy will go down drastically in the near future or next renewal.

Can someone please explain? I do have a studio in IC hence I have this interest in understanding the market trend.

Regards

 

[georgihh]

I am just a bit baffled here trying to understand the current trend of the market. Both the apartments listed in the two different posts earlier in the thread have a rental yield of between 11 and 13 % (40K on 345K Studio & 60K on 515K 1 Bedroom). Nowhere in the world, especially in the current economic climate would you get such a yield on your investment. Just to add some perspective, interest rates in the UK and the US are almost next to nothing. So why are the prices so low now? Is it because these sellers have to sell off IC to pay back debts on something else (I can't imagine they'd invest the money else where now) or is it because they think that the IC rents and/or occupancy will go down drastically in the near future or next renewal.

Can someone please explain? I do have a studio in IC hence I have this interest in understanding the market trend.

Regards

If you can get 8% from the bank why you need to bother renting it out for a bit more

 

[sajburud]

Only for ur ttle deed

are there any fees to add on top of the 515k and have you got the title deeds.

no i dont have title deed --but teh deal will be done thru vakson real estateand will be trsnfered it will all be legal i bought it that way too -and later all ull have to pay is for the title deed in your name
and ya i refund depst rent fron the date anyone takes over

 

[Howsbuya]

Investment Comparisons

I am just a bit baffled here trying to understand the current trend of the market. Both the apartments listed in the two different posts earlier in the thread have a rental yield of between 11 and 13 % (40K on 345K Studio & 60K on 515K 1 Bedroom). Nowhere in the world, especially in the current economic climate would you get such a yield on your investment. Just to add some perspective, interest rates in the UK and the US are almost next to nothing. So why are the prices so low now? Is it because these sellers have to sell off IC to pay back debts on something else (I can't imagine they'd invest the money else where now) or is it because they think that the IC rents and/or occupancy will go down drastically in the near future or next renewal.

Can someone please explain? I do have a studio in IC hence I have this interest in understanding the market trend.

Regards

Hi Investor
I'm with you completely. It's a great return - I have a 1 bed in Greece and it's making me 18% right now. My house in UK - much bigger - is making about 3%.
I'm going to buy another in IC - it makes sense even though the rents are sliding.
I think people are selling because they're afraid that they won't be able to sell in the future because the prospective buyers can't get loans. And they're also worried that the prices of the properties will drop even more and they'll be sitting on negative equity with only low rents to offset their costs.
Hi Georghi - where can you get 8% interest from a bank these days? Best in Dubai right now is HSBC at 5.3%. If you know where you can get 8% please let me know.
Best wishes
HB

 

[Howsbuya]

Studio in Greece

HOWSBUYA!!

Hello I have a studio in Greece IC if you wish, what is your budget that you are looking to spend?

gary randall at yahoo.co.uk

Hi Gary - right now the prices are still falling so I'm staying out of the water for a while. But thanks anyway.
HB

 

[GRAccounts]

HI

No prob's all the best for the future

 

[aziqbal]

A very quick and effcient way to make money is also to sell the flat and keep the Dhs in a Dubai Bank account.

Right now the exchange rate is great its around 5dhs= £1, if you have 500,000 Dhs even 1% change in exchange (which happens on a daily basis) can make you 5000Dhs!

Just check the exchange rates every day and transfer from Dubai account into UK account and vice versa and bang you make a healthy profit if you do it a few times sometimes $1000s.

However it a dangerous game if you do it you have to be good at it and very very fast.

 

[georgihh]

A very quick and effcient way to make money is also to sell the flat and keep the Dhs in a Dubai Bank account.

Right now the exchange rate is great its around 5dhs= £1, if you have 500,000 Dhs even 1% change in exchange (which happens on a daily basis) can make you 5000Dhs!

Just check the exchange rates every day and transfer from Dubai account into UK account and vice versa and bang you make a healthy profit if you do it a few times sometimes $1000s.

However it a dangerous game if you do it you have to be good at it and very very fast.

Why not Forex on the internet - real time

 

[aziqbal]

Why not Forex on the internet - real time

yeah good point but its little too complicated for me and looks more risky! for some reason through the bank seems more practical and secure even although it may not seem it!

 

[BobbytheBuilder]

Very good idea in THEORY but a bloody terrible idea in REALITY. You ever traded FOREX. I bet most people's 500,000 would be 400,000 in a month. You need the right mind set,tight stop losses,money management etc etc.

A very quick and effcient way to make money is also to sell the flat and keep the Dhs in a Dubai Bank account.

Right now the exchange rate is great its around 5dhs= £1, if you have 500,000 Dhs even 1% change in exchange (which happens on a daily basis) can make you 5000Dhs!

Just check the exchange rates every day and transfer from Dubai account into UK account and vice versa and bang you make a healthy profit if you do it a few times sometimes $1000s.

However it a dangerous game if you do it you have to be good at it and very very fast.