Lake Shore Tower - To sell or hold?

[Tazza]

Hi,

I purchased an apartment in Lake Shore Towers in JLT. It’s a two bed apartment on the 36th floor. I purchased at 793 AED/ sqft. I’ve been approached by my agents – they have advised that they can get me 1284 AED/sqft.

It’s due to complete in Dec 08 – I think. I’m not sure whether to hold till completion or sell it now….

Any thoughts anyone….

Thanks

 

[Tazza]

Waiting for your replies....

Thanks

 

[imported_jay]

Hi Tazza,

The way I see the dubai market right now, I would advise you to sell. You are making a very good profit on your investment, and just for another 10% or so, it is not worth gambling it.

With the number of tower blocks coming up in dubai end of the year and next year, it would not be wise to hang on till completion - as most owners would be thinking the same thing!

I would definitely recommend selling now whilst you have got good profit locked in and then reinvest that money into another project. If you feel that you may lose out on the extra profit that you can make by completion, then think of it this way - realise your profit at this stage, reinvest that money, and make that on another project. In fact, you may end up making more this way as opposed to waiting.

Hope this helps and good luck!

J

 

[imported_Yasir]

Sell it Immediately and Justify your Purchase .. =))

Whilst you sell this .. Try n Inquire About More Hot Properties and invest there .. =)

 

[Tazza]

Thanks for the feeedback guys...

I think selling is probably the best option....

does anyone have any ideas if Im getting a good price per sq/ft - I've seen one beds in the Lakeside Residence selling for 1550 AED sq/ft

Thanks

 

[Tazza]

Hi,

Has anyone got any photos of the Lake Shore Towers development and the surrounding areas - it would nice to see how consrtruction is going.

Thanks

 

[imported_Yasir]

Not Right Now My Friend but i Might be Going there in a couple of days or so .. Will provide u with the feedback .. =)

 

[Tazza]

Hi Yasir,

Thanks that would be great - look forward to it!

Tazza

 

[Tazza]

Not Right Now My Friend but i Might be Going there in a couple of days or so .. Will provide u with the feedback .. =)

Hi Yasir,

just wondering did you get any of photos of the site?

Thanks

Tazza

 

[Mr Tuff]

Hi all, there is no question in my mind but to HOLD ON to the property!! You see Dubai is a virgin market, new territory, new business capital, residential haven for retirees and young people alike. Duabi has one thing that many countries dont have. Best of both worlds...with style!!
There is only one way this market is going....UP! Nevertheless, every market, whether it be housing, commodities, shares and securities etc, they all have one thing in common....they go up as well as down. But these market go up or down in a cyclical fashion i.e over a certain period of time. For e.g. the property market historically has a crash every 20 years. Dubai is far younger than this. So there is room for much growth. Also, if you look at the rental income on for Dubai they far exceed expectation. For this property you would expect to receive around £30k-£35k per annum. If you have financed this property then you will still be making around £1500 per month....that's excellent positive cashflow. It is extremely rare (almost impossible) that rental rates reduce during a property slump period. As housing growth slows, credit tightens, people rent more and rents increase.

Which ever you are looking for, Capital growth or Rental income you have best of both world here. You can only win!!

 

[asifsid]

Hi,

I purchased an apartment in Lake Shore Towers in JLT. It’s a two bed apartment on the 36th floor. I purchased at 793 AED/ sqft. I’ve been approached by my agents – they have advised that they can get me 1284 AED/sqft.

It’s due to complete in Dec 08 – I think. I’m not sure whether to hold till completion or sell it now….

Any thoughts anyone….

Thanks

Hi

1284 is okay kind of price if you are desperate to sell at the moment or else if you could wait till City Scape or until after Ramadan i.e. till November you can get better price.

Regards

Asif