JVS Mirage Residence - is it worth investing?

[achoudry]

Hi Everyone,

I am about to purchase a flat in Dubai, to tell you the truth, I am very anxious since it's my first investment abroad
For those of you, who have dared to take the step, what advice would you give to ease my nerves?

Details of property that I am about to purchase in next couple of days is as follows:

Project: JVS Mirage Residence
Location: Jumeirah Village Circle (South).
Bedrooms: 1
Floor Area: 819 sqft
Price per Sq foot: 1067
Total price : AED 874264
Completion : Nov 2009

I would be very grateful to those with experience to comment on as to whether this is good price, or am I about to be ripped off? Also is this a good area to be investing in?

Thanks in advance

Ahsan

 

[Gashead]

No comment on whether you're being ripped off, presumably you know Dubai and have compared the price to other developments.

But I would bear in mind handover will almost certainly be a year late, such is Dubai at the moment.

 

[achoudry]

No comment on whether you're being ripped off, presumably you know Dubai and have compared the price to other developments.

But I would bear in mind handover will almost certainly be a year late, such is Dubai at the moment.

Thanks for the post - Yes in fact I have been looking around actively for a while and this seemed like a reasonable investment opertunity, but just be ceratain, i wanetd others to send me their opinion on as what they think about this particular project/location etc.

Regards

Ahsan

 

[Wannaberich]

Thats alot to pay for a 1bed off-plan at JV.U need to do your research.For 764.000
u could buy a completed 1bed at DSO 'Silicon Arch' and get rental right away.
God knows when anyone will be living at JV.

 

[mpat]

Achoudry

It depends on certain facts:
1. who is the developer ?
2. what is the payment plan
3. what is the type of cash flow you have ?
4. what s your purpose of buying ? like investment or renting or vacation home etc. . .

The price is high and you can find more and more ready or nearing ready and off plan properties cheaper than that.
Look around and do more research , you will get better .