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Property Price Index per sq.ft

Discussion in 'Dubai property' started by Fran, Dec 26, 2008.

  1. Fran

    Fran New Member

    Hi All,

    I am trying to create a property index per sq.ft. in the current situation.
    Bellow are some of my estimations. Please add yours:

    * Palm Jumeirah, Garden Home Villa - AED 1700 per sq.ft
    * International City, Studio - AED 1086 per sq.ft
    * Jumeirah Lake Towers - AED 1150 per sq.ft
    * Al Furjan Townhouses - AED 1029 per sq.ft
    * Burj Dubai Lake Hotel/The Address - AED 2550 per sq.ft
    * Business Bay, Executive Towers - AED 1250 per sq.ft
    * Dubai Marina - AED 1325 per sq.ft
    * Jumeirah Beach Residence - AED 1750 per sq.ft
     
  2. georgihh

    georgihh New Member

    Reduce the prices by 25% and the information will be more accurate
     
  3. Sally1980

    Sally1980 New Member


    I am mainly specialized in InternationaL City, JLT and Dubai marina:

    International City: studio 890 AED/sqft, 1BR 800 AED/sqft

    Jumeirah lake Tower: studio: 1300 AED/sqft, 1BR:1150 AED/sqft, 2BR: 1000 AED/sqft

    Dubai Marina: studio: 1600 AED/sqft, 1BR: 1150 AED/sqft, 2BR: 880 AED/sqft

    JBR: 1350 AED/sqft - 1800 AED/sqft depending on the view


    The prices mentioned are for ready properties.


    Regards,


    Sally
    +971 50 7595 971
    s.khabireh@gmail.com
     
  4. BDotADot

    BDotADot New Member

    very innacurate.. u mention jlt, commercial or residential?
    business bay 1250? commercial, u having a laugh??
    dubai marina.. 1325 - for a poor development.. 2000 per sq ft for a decent development.

    thats my bit for today :)
     
  5. BDotADot

    BDotADot New Member

    sally.. 880 per sq ft for dubai marina for a 2 bed??

    are you serious? which development? total price?
     
  6. inist

    inist New Member

    Real price

    Somebody can inform how many transactions in real estate market were in last two month and what prices? I try to sell my office space in Cayan Business Center, TECOM with best price 1100 AED per sq.ft ot give for rent 160 AED and there are not any customers. And you make some not real prices.
     
  7. georgihh

    georgihh New Member

    The flippers are gone 20%
    Half of the end user is gone - because of the visa issue 10% (from 20%)
    Half of the investors are gone – because of financial crisis 15% (from 30%).
    The developers will start if not already started flooding the market with unsold and cheap properties 30%.
    As you can see only 25% of the property buyers or keepers are in the market and even they are waiting for some bargains.
    As you can see unpredictable future is in front of us as the market can really collapse.

    So far the prices are as bad as end of 2007 , but today

    DG
    Studio 465000DHS
    One bedroom 675000DHS

    IC
    Studio 370000DHS
    One bedroom 550000DHS

    SO
    750 per sqft for completed apartments

    Springs
    4E 1.7M
    3E 2.25M
    1E 2.95M

    I don’t want to discuss the off plan developments as they really have no buyers
     
  8. Fran

    Fran New Member

    Guys,

    please....can you simply post the prices per sq.ft, according your offers and listings for the different areas in Dubai, in order to establish some sort of facts data.

    All your comments are highly appreciated, but the purpose of the post was to build a resource for comparison useful to all readers. By expressing opinions that are not relevant, you only divert attention.

    Thank you.
     
  9. Roshan

    Roshan New Member

    Yes, Zen tower at the Dubai Marina ( ready to move in ) went at 825 Dhs psf and above.

    Roshan
     
  10. georgihh

    georgihh New Member

    The price per sqft is history now when you buy first you measure then you negotiate and then if they reduce the price by reasonable percentage you buy.
    Most of us have bought the so called sqft and we didn’t know if this is the real size the size with the common balcony or even the common areas.
    Whatever the developer was willing to handover we got and we couldn’t say much we accepted bad or good. This time is gone now we buy per rooms and we want to see how big the rooms are. 2009 will change the property market in Dubai – completely. The end user will benefit and will turn the things around.
    Now I can see how all of the sqft I have invested in are melting down.
    Dubai is a joke complete joke starting with the off plan per sq ft which never gets built or if built with hundreds of additional charges and abnormals and years of delays
    Anyway why in Dubai they use sq ft but not sq meters? – Maybe to show how big they are
     
  11. naxal

    naxal New Member

    Hi georgihh ,
    Do you have Springs 4E at hand right now for 1.7 m ??
    PM me the details if YES !

    REGARDS .
     
  12. georgihh

    georgihh New Member

    Springs 9, Type 4M, 2 B/R + M. AED 1,850,000 all in. AL RAHAB REAL ESTATE (Serenity is Our Goal) - Leasing, Buying & Selling, Property Management, Interior Fit-Outs | Tel.: +9714-2215638 | Fax: +9714-2299242 | Mobile: +97150-9410202 | Email: alrahabalmadena@eim.ae | HAPPY NEW YEAR!

    You can negotiate for extra discount

    I have Marabella 4 bedroom JVS for 2.3 mil 50% comleted hand over july 2009 and you pay 50% in four years after completion
     
  13. Sally1980

    Sally1980 New Member

    Zen Tower in Dubai Marina
    2BR
    1820sqft
    1.6M Selling Price

    It is ready and I have also pictures.

    Regards,

    Sally
    +971 50 7595 971
    s.khabireh@gmail.com
     
  14. Sally1980

    Sally1980 New Member

    George,

    Please mention prices that you can verify. I called the number you mentioned on the forum and the cheapest studio available in IC was in China for 430.000 AED. This is as I know also the market price... Should you have studio in international city for 370K, I have a buyer for it.

    Thanks,

    Sally
     
  15. georgihh

    georgihh New Member

    I haven’t got the number for 370k at the moment but will send you ASAP.
    Anyway I am trying to sell this Mirabella unit in JV, townhouse, 4 bedroom for 2.3mil - what is your opinion?
     
  16. Sally1980

    Sally1980 New Member

    If there is demand for it, it is worth it. But curently investors buy for 600K in international City one bed and someone I know bought for 800K 2bed in IC, Tameer development ready in 2/3 months. These bargains are more in demand by investors/endusers these days... Also the rule of one familly in a villa does not help sales of such properties... Goodluck
     
  17. georgihh

    georgihh New Member

    Thanks for the professional reply.
    It is good to know that at 600k for one bedroom and 400k for a studio you can find buyers – maybe this is the bottom
    I will find out for the studio less than 400k and let you know.
    Regarding the villas – you are correct – not moving
     
  18. financier888

    financier888 New Member

    Hi Fran - I agree with you and we should use this as an opportunity to get 'real' info as what is advertised in the paper simply does not reflect the market. What price points are property really being conveyed? Ideally, RERA should consider the publication of the recorded transactions.. (by subscription like they do in the USA and other mature markets... ) These are the real records of actual conveyances... rather than having to rely on 'heresay' - Brokers are reluctant to openly discuss these deals as they percieve them as 'anomalies' but they are not.. They indicate a trend.

    FACT - two studios were sold in IC - at AED 250,000 each!! the original OP price.. The seller was panicd and need the quick cash for their business. They were sold in a matter of days - a local picked them up. You may see more of these kinds of sales as the market flattens out.

    The more accurate data that comes in - the more intelligently you can make a decsion - whether to buy or sell for that matter

    Thanks for you post and initiaitive
     
  19. naxal

    naxal New Member

    George ,
    Is the above a copy-paste from a newspaper ad ............... Or someone you know .

    Anyways ,I'll give them a call .

    HEY ,on another topic ,Is the 'one family per villa' rule also applicable to this Springs Property ?If so ,then this will be a deterrent for me :confused:
     
  20. sasherwani2

    sasherwani2 New Member

    As far as I know, one villa one family rule does NOT apply to freeholds.. but then again.. this is Dubai.. rules and regulations change with seasons... you invest thinking u'll get a resident visa and a 30% refund on the investment incase you pull out BUT you end up getting "no construction", "no visas" and "no refunds". Becareful..
     
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