Predicted rentals in Jumeirah village?

[Marni]

Hi everyone...just registered on this forum.

Does anyone know what the rentals in Jumeirah Village could possibly be once its completed? Any ideas/suggestions would be appreciated. Thanks!

 

[georgihh]

studio 50k
one bed 70k
two bed 90k

not for long

 

[Roshan]

studio 50k
one bed 70k
two bed 90k

not for long

Rightly said, one should expect corrections on rentals.

Out of curiousity, what would be the rentals in the UK for a similar development.

Can someone tell us.

Regards

Roshan

 

[Marni]

is that once its completed? i thought it be higher than that...
Georgihh, what do u mean by not for long? are rents expected to rise in this area? sorry for the questions but i was told jumeirah village is a good place for rental returns!

 

[mpat]

JVS might be good place for rentals but one should not expect more than what georgihh said, there are many many many projects getting ready together with JVS to compete....

 

[Roshan]

is that once its completed? i thought it be higher than that...
Georgihh, what do u mean by not for long? are rents expected to rise in this area? sorry for the questions but i was told jumeirah village is a good place for rental returns!

You should expect a correction in rental income once more properties come into the market.

Regards

Roshan

 

[georgihh]

Hi,
Rental return is dropping in Dubai and will drop more
At the beginning 4 years ago was easy to achieve 15% per year for example Greens
Now in Greens you get 8-9 %. Same applies to Springs, Dubai Marina and all the properties being delivered for the last 4 years.
I expect the rental return to drop to 6% in the next 2-3years
This doesn’t mean you won’t make money from buying and reselling the property.
If you buy a one bedroom flat for 700000 DHS in JVS after 2-3 years at the time of delivery. The price should be just over one million (assuming 6 % rent and the rent is 70000k per year).
Market is stabilizing and don’t expect any more gifts from the developers