Predict the prices in 2010

[mpat]

If you can find me someone who is prepared to sell OT at 1600/sqft I'll fly out tomorrow to do the deal!
One has to remember that the new Downtown is to be around the Burj and DIFC. Marina, Waterfront, Al Farjan and Sports City are still a long way away and won't come into their own until worldport is completed. Would your tenant want to live under the flight path of up to six active runways by the marina?

petrometro

there is more of speculation and less of real investors and buyers, what you see sold out might have been blocked half of or more by agencies just to speculate.

I CAN GET YOU FOR LESS THAN 1600 /sq ft IN MOST OF THE PROJECTS IN SPORTS CITY, IF YOU ARE TALKING ABOUT OT ONLY.

Pls come down on the grounds of reality.

Bye

 

[petrometro]

The flight path being where exactly?, its only a small area in general, but which specific areas are you referring to regarding disturbance?
IMPZ and DSC look indirect fire,

Any major international airport will have a holding pattern and my guess is that this will extend over Dubailand as well as SC. OK so part of it will be over desert but no country in the world has seen the effect of what 6 runways will do to noise pollution. The first runway A380 ready is already built. OK worldport will not be finished until about 2017, so you have 10 years to buy at SC and sell!

 

[petrometro]

petrometro

there is more of speculation and less of real investors and buyers, what you see sold out might have been blocked half of or more by agencies just to speculate.

I CAN GET YOU FOR LESS THAN 1600 /sq ft IN MOST OF THE PROJECTS IN SPORTS CITY, IF YOU ARE TALKING ABOUT OT ONLY.

Pls come down on the grounds of reality.

Bye

errr the reality of the matter is that even when the development is released the speculators are still prepared to pay a hefty price. I bought OT at 1495 and the unit was released last October. I was offered a cash purchase at 3000in February which I turned down. Not far away Burj Park V sold out at up to 4800 on Saturday. I am not interested in DSC at this time and agree 1600 is probably achievable there. I meant a property in OT. 1600 and I will be on a plane next week from the UK, as will a close friend of mine who also has a property in Reehan V and wants to buy another in the Downtown area.
What I find difficult to understand is where the speculators see a decent return on 4800 in Burj Park V!!! They have been buying as some of the people in the queue bought up to 5 apartments at once.

 

[mpat]

I personally feel that everything is moving here based on the speculation.good luck.

 

[petrometro]

I personally feel that everything is moving here based on the speculation.good luck.

I think you are right. You have to be very selective though. I only buy emaar or dubai properties. Nakheel is too behind with the palm and eta star is only a new boy. Barclays, Lloyds and HSBC will only lend on E, N and DP. Forget Damac AND OTHER SECONDARY DEVELOPERS - look what happened to Palm Beach!!

 

[Dubai_Investor]

What I find difficult to understand is where the speculators see a decent return on 4800 in Burj Park V!!! They have been buying as some of the people in the queue bought up to 5 apartments at once.

Gasp! Do you mean Four Thousand Eight Hundred dirhams per square foot?

 

[petrometro]

Gasp! Do you mean Four Thousand Eight Hundred dirhams per square foot?

Thats correct. Emaar launched at 3600/ft at 1000. 20 minutes later they raised the price to 4800/ft and at 1030 the place sold out. 200 units in 30 minutes!
This is prime real estate, the golden square mile. It will probably become the most expensive downtown area on the planet if you believe the press. .
My Old Town Reehan V property is now estimated at 3000/ft and by next year optimistically it will be 6000/ft if my property investor who lives in Dubai is to be believed and he has not been wrong yet!

Bonkers I agree but as completion on developments passes so the properties become more attractive. Buy low rise or podium 1 bedroom ideally with a garden as these attract a rental premium. The next place to buy is Business Bay as it is next to Burj and easy commuting distance to the DIFC. My tenant is a lawyer for an international legal firm. Blue Chip I think you would agree!

 

[Dubai_Investor]

Bonkers I agree but as completion on developments passes so the properties become more attractive. Buy low rise or podium 1 bedroom ideally with a garden as these attract a rental premium. The next place to buy is Business Bay as it is next to Burj and easy commuting distance to the DIFC. My tenant is a lawyer for an international legal firm. Blue Chip I think you would agree!

What kind of rental return can you obtain in this location?

 

[DAYFox]

... The next place to buy is Business Bay as it is next to Burj and easy commuting distance to the DIFC. My tenant is a lawyer for an international legal firm. Blue Chip I think you would agree!

Definitely! Don't even try to get a Unit at Burj Park V or something similar... Don't go for skyrocketing prices like 4000AED /Sqfet... Do your due dilligence and have a closer look at Business bay! There you can still find things at 2000AED which soon will rise to similar levels like old town -in my opinion even higher in a couple of years from now...

 

[naga7]

Sorryfor my ignorance but whats COA?

 

[petrometro]

What kind of rental return can you obtain in this location?

I get 115,000 gross on a purchase at 1239888, so 9.27% pa. Probably works out at about 8 percent after service charges.

 

[petrometro]

Sorryfor my ignorance but whats COA?

city of arabia. In the heart of dubailand, about 20m square feet

 

[HaiderAli]

Just about to invest in DSC, Rufi project at 1000 SQFT. What do you guyz say? I am very confuse after reading few posts in this thread.

Thank you for your honest opinions in advance.

 

[Demoniise]

Hi HaiderAli,

Which rufi project?

 

[HaiderAli]

Rufi Century Tower.

 

[dreamsofburj]

price depends on what floor as well! so tell us the floor please haider ali.

 

[HaiderAli]

4 and 9th ? Which floor is better?

 

[HaiderAli]

And the building is G+24. Let me know

 

[mpat]

Just about to invest in DSC, Rufi project at 1000 SQFT. What do you guyz say? I am very confuse after reading few posts in this thread.

Thank you for your honest opinions in advance.

R U talking about studio or 1 Bed ?

 

[dreamsofburj]

the higher the floor the better the vews so i guess 9th floor would be my pick!