CBD, International City - getting Discount

[mubinirl]

Hi All,

My unit is finally coming to completion but the price has fallen by as much as 40% than what I had bought. The developer refuses to give any relief though even their costs has probably gone down. Is there any other way I can get some kind of discount on this ?

Thanks..

:hmmmm2:

 

[dalvir bains]

Hi All,

My unit is finally coming to completion but the price has fallen by as much as 40% than what I had bought. The developer refuses to give any relief though even their costs has probably gone down. Is there any other way I can get some kind of discount on this ?

Thanks..

:hmmmm2:

Nearly all of us have lost 40% on our units, but thats the way life goes, we took the gamble, but as long as you can get it rented out after completion, at least you can get a return, also the service charges are sky high in dubai,
further to your question regarding discount from your developer, theres no chance! the dubai laws on their side, as dubai law always favours them instead of customers like us! lets just hope that things pick up soon,
The best thing for dubai is to stop ALL new building, as there is FAR too much oversupply at the moment as it is.

 

[alden]

Rental income

Hi Dalvir. We have just recieved a email from our agent regarding the renewal of our tennants lease, its a studio in the france cluster the offer is aed 17.000, the agents advice is take it as it would very difficult to get another tennant and this is now the going rate in I/C. Not long now before the service charge is more than the rental income, iam sure we all have a good idea what will happen then if its not already happening, a ghost town and property worth nothing ?

 

[dalvir bains]

Hi alden, i agree with you 100% i remember reading your earlier posts and i know that you invested in dubai quite some years ago too, but theres nothing we can do but to take whatever rental is being offered, at least we had a good 2-3 years return at the start.
I/C is not the worst affected area as it is still popular, a lot of other apartment prices elsewhere were OVER double the price of I/C and their rentals are nearly the same as I/C now

 

[alden]

i/c

Hi Dalvir Interesting article about international city in the Gulf news. try and have a look.

 

[dalvir bains]

Hi Dalvir Interesting article about international city in the Gulf news. try and have a look.

gulfnews : International City: Squalor township


Hi alden, is this the article you are refering too? :listen:

 

[alden]

i/c gulf news

Hi Dalvir. Yes thats the article, Ive visited i/c four times over the years since it first started to be built,and in my opinion with nakheel never really finishing the job it was only ever going to go one way and that was downhill. I now think its a case of too little too late iam afraid.

 

[sriikanth]

Dear Friends


I have a studio flat in CBD Al Jawzaa and is scheduled to be completed in a months time. can you guys please suggest a good real estate agent ( interms of service and price) as I am stay out of Dubai and don't know which real estate agent to trust.

any suggestions are welcome.

Thanks a ton
Srikanth

 

[georgihh]

Dear Friends


I have a studio flat in CBD Al Jawzaa and is scheduled to be completed in a months time. can you guys please suggest a good real estate agent ( interms of service and price) as I am stay out of Dubai and don't know which real estate agent to trust.

any suggestions are welcome.

Thanks a ton
Srikanth

You are living in a different world

 

[Allsopps]

Hi Mubinirl,

Any property market around the world, a much often used chiche is Location, Location, Location...... One of the most important factors of purchasing a property. Naturally with International City being a distance from central Dubai and the decline in rents over the last couple of years, International City does offer value for money.