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JBR - Sell or hold?

Discussion in 'Dubai property' started by chaumi, Jun 21, 2007.

  1. chaumi

    chaumi New Member

    Hi

    I'm just about to take handover of a 2BR Jumeirah Beach Residence apartment - Tower D01 T01 31st floor, marina view.

    Any opinions on the future outlook for JBR?

    Do I attempt to sell now, or go for a long term rental?

    Thanks
     
  2. KingPin

    KingPin New Member

    Hi,

    Depends on if you want to rent it out. I've been quoted 126000 to 132000 AED for my 2 bed. It also depends on how much you paid for it and if your happy with around 130000 to 140000 AED for a quick sale.
    I personally think there will be a renters market within five years due to the number of properties being built and it will come down to the location and quality of buildings, and I think JBR scores very highly on both fronts. So when the corrections happen JBR will be less affected than some of the overpriced off plan stuff out in the desert being marketed now.
    So to answer your question, I personally would hold for about three years and rent out. The prices will go up and down mainly due to flips but once JBR is established, I'm guessing 165000 to 190000 AED as an average. This is just my personal view and I could be completely wrong but I did do a lot of research before my purchase and chose JBR over apartments on the Palm at the same prices.
     
  3. chaumi

    chaumi New Member

    Thanks Kingpin

    So AED1.3m to 1.4m seems to be the average asking price for 2BR apartments for now, but i've not seen any evidence that one's ever actually been sold on the secondary market.

    Difficult situation to call. You're right that JBR and one or two others would appear to be among the safest places to be to avoid or alleviate any downward correction.

    Need to take into account any further downward move in the dollar. 20% further fall over next 12-18 months would have a heavy effect, though I do remember reading somewhere that the UAE intended to distance from $ some time in next two years. You'd hope that would result in an increase in AED value to offset further $ fall in the meantime.

    I've been quoted AED125k for rental, not sure yet if this is an 'honest' appraisal of rental income.

    Got to admit I'm worried. Struggling to see how anyone's going to be paying more than 1.3m for an apartment any time in next 2-3 years, what with the choice that's going to be on offer....but that ties in with your summary - rent for 2-3 years, sell at hopefully around 1.6m.

    With the $ risk + uncertain future, I'd probably jump at a 1.4m or close offer now, but don't think that's going to come.

    Hope you're right in your eventual 1.6m+ projection!
     
  4. farooki

    farooki New Member

    I am looking to buy a 2 bedroom in Jumeirah Beach Residence (JBR) Anyone selling their apartment please contact.

    Regards,
    Shiraz Farooki
    +971503958850
    shiraz@ecko.com.pk
     
  5. mirpuri

    mirpuri New Member

    i think you 2 are pro,s agents you are fishing
    talking of 1.3m & 1.5m 2 bed on JBR every one know price on JBR is much higher
    i hate pro,s on this site pretending to be Investors
    then you canot belive any one who is who !!
    Mirpuri
     
  6. shah112

    shah112 New Member

    mr mir puri mr nice guy

    mr mirpuri
    did i ask you for anything?????
     
  7. Wannaberich

    Wannaberich New Member

    I totally agree with Mr Mirpuri.This is not a site for agents to obtain business
    yet they swarm all over it and ruin it.Go away and find somewhere else to play !
     
  8. naguru

    naguru New Member

    I agree. if you are just wasting time on this site, please find something else to do. and leave this for serious people. thanks
     
  9. shah112

    shah112 New Member

    i dont understand you guys who is selling anything here
    am i?
     
  10. Roshan

    Roshan New Member

    You have just got possession and you want to sell ??. Is it full Marina view, the apartment will be close to the beach. if the view is unobstructed. The property will do well on short term rentals or long term rentals.

    Get an opinion from agents like Better homes dealing in short term rentals. Weigh the returns with long term which are generally much higher. Then take a decision what you want. I suggest you rent the apartment. Depending on when you bought, you would have already got a decent appreciation. As long as the rent covers the EMI, you should not be worried.

    Marina & proximity to beach apartments generally do well on short term rentals.

    Regards

    Roshan I
     
  11. shah112

    shah112 New Member

    why r u wasting u r time replying to me????
     
  12. smile99931

    smile99931 New Member

    Hi my friend,
    I just advice you, if you got good price for selling your property with good profits which make you happy with, sell it, and buy another one for investing. In the future, nobody can guess what will happen, if you just waiting.

    Thanks,
    smile99931
     
  13. euroinvest

    euroinvest New Member

    Sorry cant offer much info in terms of wether to hold or sell in JBR, as i have been targetting other areas. Just wondering, what your experience has been in the increase in price per sqft in JBR from the time you purchased to now, what was the time frame? Did you buy at prelaunch, launch or aftermarket?
     
  14. dpc

    dpc New Member

    I would definitely hold in JBR. It is a very popular area for rentals - I know many of my friends who have rented there or were thinking of it. The apartments are well sized, near the beach and the hotels. I think the value of it will go up once they establish the 'Walk' which will have shops, restaurants, gardens all across the ground floor of the JBR building. It will be different to Marina Walk and maybe even better - certainly bigger.

    So hold on to it, it will become a premium property with its beach location. Dubai is building way back in to the desert now - so you know what you have is good.
     
  15. jordandvdj

    jordandvdj New Member

    Will give you 140,000AED upfront if the lease can be in my companies name. Only way they do leases at my outfit. Would be for 2 adults - no kids no pets. Want it for 2 years as moving to one i bought in early 2010
     
  16. Gashead

    Gashead New Member

    Re the original question there are still two more spikes to come on JBR.

    1. Retail opening.
    2. Beach club opening.

    Whether either will be quite what people expect is another matter but they should force prices up higher than other available investments so I would say hold for now.

    Depends if you want yield or growth.
     
  17. euroinvest

    euroinvest New Member

    Anyone selling a 1BR for between AED 600 and 1000 ? I am a cash buyer.
     
  18. memo123

    memo123 New Member

    I will buy it from u

    what is the name of the building
    when i went there i saw that u can hardly see the marina , is yours in the front building just behined the Ritz or inside
    i saw two apartments on the inside aw rbut they were very dark at 12 noon ,
    but wud love to see your offer price so pm me pls .
    and by the way when we went to the sales building there were huge number of people looking to rent their properties . did u buy it for investment or for a home ?
    it seems u have no intention of keeping it , at least from your words
    only u can make up ur mind ,
    regards
     
  19. memo123

    memo123 New Member

    like to buy it

    please send me all the deatails and your offer price on zalikah123@yahoo.com
     
  20. memo123

    memo123 New Member

    hello

    some how i cant pm u
    can u give me ur phone #
    send it to zalikah123@yahoo.com
    regards
     
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