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Looking to buy an aprtment on the palm shore line

Discussion in 'Dubai property' started by memo123, Apr 15, 2008.

  1. memo123

    memo123 Member

    Hello all
    Do any of the owners on the palm shoreline want to sell his or her apartment ?
    I am a serious buyer looking for a 2 or 3 bed room appartments depending on the price
    I have seen so many names like Hasser, azeraq a llkhdra so many
    if you want to sell please contact me on zalikah123@yahoo.com
     
  2. ajamil

    ajamil New Member

    Hi, still have the apartment? Very interested. Thanks
     
  3. kismet

    kismet New Member

    Hi,

    Yes I still have the shoreline apartment which is now on sale at Aed 4.5m net. Its been awhile since I put that ad in the Forum and prices on the Palm have shot up since then. They are still going up quite rapidly as everyone wants to live on this iconic Island. Let me know if interested.
     
    Last edited: Dec 26, 2008
  4. defc0nx

    defc0nx Banned

    provide me your email.
     
  5. kismet

    kismet New Member

    Hi,

    Yes my flat on Palm jumeriah is still available so contact my E mail address directly for full details. cyprusvillas@hotmail.com

    Regards

    William
     
  6. azhariqbal

    azhariqbal New Member

    I have contacted them, they are good.. DUBAI FURNISHED APARTMENTS
     
  7. kismet

    kismet New Member

    Reduced price for Shoreline Apt

    Please note that my Type C , three bedroom plus maids room apartment in Al Msalli, which is a beachside block, has a reduced price for quick sale. Aed 4.5m net
    E mail me direct to: cyprusvillas@hotmail.com
    26th Dec 2008
     
  8. kismet

    kismet New Member

    Reduced price for my shoreline apartment. Now Aed4.5m net for quick sale

    Reduced price for my Type C shoreline. Now Aed 4.5m net
     
  9. loai

    loai New Member

    sold

    have u sold your apartment yet?
     
  10. kismet

    kismet New Member

    Hi,

    My Shoreline Apartmewnt is still available for Aed 4.5m net. Please note that I have a gtenant in this unit who has given me a vacate letterr. He will finally leave this unit on 13th Aug 09 ( six months from now). Buyer will get pro rata payment of rent.

    Let me know if interestedc

    Regards

    William
     
  11. Vicks

    Vicks New Member

    Dude,

    You are better off keeping the tenant until the market picks up. Nothing is really selling in Dubai unless you are willing to sell it for what you bought it for !! Do not go down this route as you will find that the prices are holding and will go up in the future or will be at todays level when the crisis will clear. (Which is not a bad deal!)

    I am in the same position as you , Flat on the market for 3 months, viewings but no buyers, Apartment is realistically priced (getting stupid offers, turned them down) but have decided to hold on, as the time will come when funds will be available for buyers and for those that wished they had bought now on this iconic Island will find that they will have to pay more when prices rise. Its a special/popular Island in Dubai, a prestige world address, everyone around the world has heard of this engineering feat. Its unique in comparision to other developments in Dubai.

    Just my opinion mate but good luck in whatever you do
     
  12. kismet

    kismet New Member

    Hi Vicks,

    Thanks for your input. Just for information I have in the last few weeks sold another flat in Dubai Marina and, curiously, had several serious offers and opted, of course, for the cash buyer. On the day of transfer in Dubai I had two serious offers by phone. The price was reduced to Aed2m net which was Aed 500,000 less than the peak value. So it was not a distress sale but more in line with real value. I have discovered that there are buyers in Dubai ( particularly Russians since now is their New Year holidays) and they are only interested in finished, available, properties, which my Marina apartment was. My shoreline, on the other hand, has a tenant albeit until Aug 09 and that fact alone is the reason why I have not been able to sell this unit. Dont believe everything that the agents are saying. Most of them, in my experience, are extremely lazy and did well previously because it was a sellers market. They are unregulated estate agents and only interested in their commission so convincing sellers that selling prices must be cut dramatically is their objective since it makes little difference to the commission that they earn. You have to spend time in Dubai to get a feel for the real situation. Good luck
     
  13. Vicks

    Vicks New Member

    Hi Kismet,

    Thanks for the reply. Its good to get in contact with someone else with a familiar story.

    I have a shoreline for sale as well ad it is currently tenanted until April-09. The estate agent wants me to give a vacating letter but the problem i have is the following. This information was given to me by another estate agent.

    The Government has set a guide for acceptable reasons they will support owners for requesting tenants to vacate at end of lease as follows:
    To reside in property themselves or for their next of kin
    If the tenants break the tenancy agreement terms
    If property is being fully renovated and inhabitable

    They have not included selling your property as a vacant possession to warrant evicting tenants at end of term.

    When there are any disputes between tenants and landlords the case is handled via the Rental Committee. They assess each case and record their verdict in a hearing.

    For giving notice to tenants for owner/family to occupy the property its at least 90 days. What would have been beneficial is to have sold the property prior to 3 months before tenancy expiry and then the new owner gives notice to the tenants to occupy.


    My situation:
    I can only issue a vacating letter if I am due to live in the property personally. Which I can do but if I do this then I won't have any rental income for a year if the flat doesn't sell before April as I would not be able to let the apartment out until a full year is up, as per law. I would have no income until the flat is sold or a year is up from the tenancy eviction.

    So to avoid any situations that would disadvantage me, this is my view,

    1. The tenants know that the apartment is up for sale.
    2. An investor could take on the tenant at current rate with a view of a 5%
    increase in April, for rent 2009/2010.
    3. If the buyer wants to move into the property for personal use then they
    can issue a 90 day notice for the tenants to move out once they have bought
    the property.


    What do you think? Think i am doing the right thing? With the above in, i don't see why there should be a problem selling the property at the right price.

    When i query how the selling process is getting on, all i get is there is not enough funds for mortgages, so when the banks start to lend then we could see more activity, which brings me to the next point , what about the cash buyers?

    I appreciate your feedback? Are you in Dubai and which Agent are you using to sell the property?

    Kind regards,

    Vivek
     
  14. kismet

    kismet New Member

    In my case my tenant voluntered a vacate letter. He wants to leave in Aug 09. In your case a lot depends on your kind of tenant with regards to how you handle it. If, for example, you informed him that you wanted to live in the unit yourself do you think he would go screaming to RERA?. I suspect not. It may be worthwhile to write to your tenant informing him/her of your intention not to renew the lease as you want the unit for your own occupation.....and see his reaction. He might just say..ok. If he makes a lot of noise then you are no worse off.

    I am a retired Airline pilot and for nearly forty years I have been going to Dubai monthly so I have seen it all grow up. Also my son is permamently living in Dubai and has his own agency. King Realestate. He can dig out cash buyers when he wants to. Good luck

    William
     
  15. Vicks

    Vicks New Member

    Thanks William, I have pm you (but put Michael !! Sorry!!).

    The situ i have is the tenants wants to renew.

    I seem to be stuck in a catch 22, financially. Even if he doesnt go screaming to RERA and the flat doesn't sell for say a couple of months then i will have to make some sacrifices. If i could sell while the tenants is in there and on transfer, the buyer apply a vacating letter for personal use. hmmm , lots of thinking !
     
  16. heat_wave

    heat_wave New Member

    Kismit I totally agree with you. The agents here are not trained in a mature market and therefore do not understand the mindset of a sales person. Also a lot of the investors are from emerging markets with high risk and high return therefore do not understand the maturing current market. I am very interested in knowing which agent sold your property in the Marina?

    Im new to the forum and not too sure how this private message thing works.
    Also I may have some contacts for your current properties on sale.

    Thank you
     
  17. Hussein Awadh

    Hussein Awadh New Member

    I have ready properties for sale direct from developer.

    If interested please contact me;

    00971 50 107 6587
     
  18. PropGuy

    PropGuy New Member

    This forum area we are not allowed to sell, but email me at info@bestproperties.me I've some properties that might interest you.
     
  19. palm_chris

    palm_chris New Member

    Looking to buy 3br shoreline C type rightside.

    Looking to buy 3br shoreline C type rightside.

    please let me of if anyone has one.

    cheers

    chris
     
  20. Hussein Awadh

    Hussein Awadh New Member

    Garden Home Villa 4BR

    I have a 4 Bedroom Garden Villa in Palm Jumeirah for sale.
    I also have a 4 bedroom shoreline apartment.

    Kindly contact me;

    00971 50 107 6587
    Hussein.Awadh@damacgroup.com
     
    Last edited: Jan 25, 2009
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