Is 16m net a good price for a Phase 1 Mallorca

[monsi]

We have received an offer (sort of) for our Mallorca - Phase 1 of the Villa development.

I say 'sort of' because I am not convinced of the source.

We are seriously considering it but my friend tells me to wait until Ramadhan is over (hence my earlier thread re: Ramadhan slow down). She says that we can get a slightly better price for it then as it's in a good position (backs onto water) and because City Scape will be in October.

Would appreciate other views.

 

[DAYFox]

I am not so sure, but I would say prices are cheaper in Ramadan than after. Prices are also cheaper after Ramadan then after Cityscape right said. But of course prices will be even more expensive in January 09. So what is the key about all this? The more you wait, the more it will cost you! Other option you wait for the 'crash or correction' in DUbai and buy then.. but be prepared to wait another 5 years at least

 

[monsi]

oops!

I meant we own the Villa - someone wants to buy it from us for 16m net.

We are trying to work out if we should accept the offer or wait until City Scape or at the very least after Ramadhan

 

[dubaizone]

I meant we own the Villa - someone wants to buy it from us for 16m net.

We are trying to work out if we should accept the offer or wait until City Scape or at the very least after Ramadhan

If you have acheived a satisfactory rate of return on your investment or your targeted price / premium then i strongly suggest you sell it. The way things are right now CityScape can make the market go either ways....it can send prices up which everyone is hoping or it can send prices down due to the supply of more units and options in the market.

There is a lot of expectations from Cityscape this year - the real estate market is witnessing a much expected slowdown this year. Its not exactly a crash but definitely things are not what they used to be a year ago.

 

[monsi]

If you have acheived a satisfactory rate of return on your investment or your targeted price / premium then i strongly suggest you sell it. The way things are right now CityScape can make the market go either ways....it can send prices up which everyone is hoping or it can send prices down due to the supply of more units and options in the market.

There is a lot of expectations from Cityscape this year - the real estate market is witnessing a much expected slowdown this year. Its not exactly a crash but definitely things are not what they used to be a year ago.

Thank you.

We are not desperate to sell as there is no debt and we have no more to pay until complete - end of this year?

The new off plan Mallorca's from Dubai Properties are at least 4/5 million more and they are not as well positioned - so I simply wanted to check if this is a fair market value price.