True Cost Of International City Apartments

[Markus]

Hi All,I have just started looking to buy a 1 Bedroom Apartment in the International City. At this stage I am not worried about what area its in. I would like it on the top floor.I have looked at the prices on the Internet and they range from 600,000AED to some being marketed as high as 800,000AED.
Whats the going rate for a 1 Bed at the moment,

Markus

 

[dalvir bains]

1 bedroom apt around 1 million!

Hi All,I have just started looking to buy a 1 Bedroom Apartment in the International City. At this stage I am not worried about what area its in. I would like it on the top floor.I have looked at the prices on the Internet and they range from 600,000AED to some being marketed as high as 800,000AED.
Whats the going rate for a 1 Bed at the moment,

Markus

Marcus, HOW THINGS HAVE CHANGED!

 

[Markus]

Marcus, you will not get a 1 bedroom for 600,000 ( maybe a studio ) you will find that those are old ads, 1 bedrooms are around 850,000 to 1 million dhms, there is a shortage of units for sale ( studios & 1 bedrooms ) I/city is still a great buy for 1 million as the rentals for 1 bedrooms are now around 60k 65k per year, and that is a great return I city is still under priced for what it is , Great location , also its near dubailand , and when the biggest theme park opens , THEN you'll see the prices ROCKET!

I think the prices you have stated mighy be slightly high from what I have seen so far,can anyone comment on this

 

[dalvir bains]

Yes prices are going up.
If the government is keep on demolishing residential areas in Dubai such as Satwa
I won’t be surprised to see one bedroom going on for 1 million.
IC is one of a kind – average and basic but nothing else in this range.
As far as nothing is available and will not be in the near future prices will go up

I know what i'm talking about! wait & see! ( check price rises posts! )

 

[Yasir]

Marcus, you will not get a 1 bedroom for 600,000 ( maybe a studio ) you will find that those are old ads, 1 bedrooms are around 850,000 to 1 million dhms, there is a shortage of units for sale ( studios & 1 bedrooms ) I/city is still a great buy for 1 million as the rentals for 1 bedrooms are now around 60k 65k per year, and that is a great return I city is still under priced for what it is , Great location , also its near dubailand , and when the biggest theme park opens , THEN you'll see the prices ROCKET!

One Bed is No Where in the region of 800000 ma frnd .. The Highest you will get is 720,000 All including and that too for those apartments which are registered in the Land Dept. The Others which are not registered as of yet are still available round the 670000 to 680000 Mark. =))

As soon as International City Market is Concerned its definitely gonna go up after all the apartments are registered in the Land Dept. so a Great Buy at this time. =)) Cheers ..

 

[adeeb.shaikh]

Very True

One Bed is No Where in the region of 800000 ma frnd .. The Highest you will get is 720,000 All including and that too for those apartments which are registered in the Land Dept. The Others which are not registered as of yet are still available round the 670000 to 680000 Mark. =))

As soon as International City Market is Concerned its definitely gonna go up after all the apartments are registered in the Land Dept. so a Great Buy at this time. =)) Cheers ..

Completely in Agreement with yasir

 

[dalvir bains]

Hi Demoniise

550,000 all in - mobile no. 050 5149164. Kaunas - its not vacant at present, but I am living there so easily vacated.

THATS A STUDIO! WHATS A 1 BEDROOM WORTH?

 

[kully sanghera]

No availability

One Bed is No Where in the region of 800000 ma frnd .. The Highest you will get is 720,000 All including and that too for those apartments which are registered in the Land Dept. The Others which are not registered as of yet are still available round the 670000 to 680000 Mark. =))

As soon as International City Market is Concerned its definitely gonna go up after all the apartments are registered in the Land Dept. so a Great Buy at this time. =)) Cheers ..

I Agree[/U] with yasirs post, BUT WHERE are there ANY units for sale in i/city? as my friend has been searching everywhere & wants a 1 bedroom in ANY cluster, & NOW there are DUBAI GOVERNMENT mortgage options too! from SELECTED dubai banks/companies ( Source GOWEALTHY ) Prices are gonna go CRAZY! , dubai or ajman? for a 720k 1 bedroom apartment, I/CITY is near dubailand too! TAKE UR PICK!

 

[georgihh]

I Agree[/U] with yasirs post, BUT WHERE are there ANY units for sale in i/city? as my friend has been searching everywhere & wants a 1 bedroom in ANY cluster, & NOW there are DUBAI GOVERNMENT mortgage options too! from SELECTED dubai banks/companies ( Source GOWEALTHY ) Prices are gonna go CRAZY! , dubai or ajman? for a 720k 1 bedroom apartment, I/CITY is near dubailand too! TAKE UR PICK!

International city is undervalued, even if the prices for other properties don’t go up IC will still be in demand.
The quality is poor but who cares it’s a space to stay with AC and reasonable proximity to the main places in Dubai.
On top of that they started putting some greenery and trying to reduce the occupancy to max 3 people per flat. Once they complete this the place will be very good to stay.
Any way currently the properties are undervalued by 15-20% and expect adjustment in the next 6 months.

 

[kully sanghera]

Hi georgihh,
I AGREE WITH YOU 100%
BUT when you say the quality is poor , i'm not so sure my friend , i thinks its pot luck!
look at i/city france pictures thread, and my unit pics are on there, from p27 block,
I couldn't pick any faults with mine, and i also viewed 2/3 other empty units too, and they were fine, maybe its just luck, but when i stayed at a certain NEW 4 star hotel this feb in sharjah the finish was AWFUL ( it had the same kitchen units as i/city! )

 

[anwar khan]

Hi guys!!! According to georgihh, prices in Intl city are currently undervalued by 15 to 20% so that means by the end of this year or begining of next year the price for a 1 bed in IC would be around 850k or above which is a great value...what you reckon guys???

 

[georgihh]

Hi guys!!! According to georgihh, prices in Intl city are currently undervalued by 15 to 20% so that means by the end of this year or begining of next year the price for a 1 bed in IC would be around 850k or above which is a great value...what you reckon guys???

Guys just to be more accurate

1 Today’s newspaper
Studio 510k, 1bed 740k
Rent studio 55k 1bed 75k
2 Any investor will be very satisfied with 8% per year cross rental return or 7% net (1% are currently the service charges in IC)
Studio should be 680k and one bedroom 950k
3 There is no other property in Dubai where you can clear more than 7% net from renting your property. IC is currently 10% - that’s why the properties are undervalued.
4 Once Nakheel manage to sell the Lake District units the land registration for the rest of the IC units will take place and the above figures will be the current prices.
Expect at least 1.5% monthly growth of your units for at least one more year

 

[muqarabin]

Is there a need to differentiate between the currently built IC and IC3. Cause IC3 seems to be of a much higher standard than the current IC.

I have a 1Bed in IC3 Cambridge Residence and wont be arting with it for anything less than 850,000 AED and that is even if I decide to sell.

 

[georgihh]

Is there a need to differentiate between the currently built IC and IC3. Cause IC3 seems to be of a much higher standard than the current IC.

I have a 1Bed in IC3 Cambridge Residence and wont be arting with it for anything less than 850,000 AED and that is even if I decide to sell.

The difference is that the current IC is built and IC3 might never be built
Big difference what do you think?
Considering the above you have nothing and you cannot talk about qualities on something that doesn’t exist

 

[kully sanghera]

Hi all,
The clusters in the current I/CITY with the different country themes is like NO OTHER. At least most residents have made friends with fellow residents / neighbours etc; And made it a close community , Having basketball games eg; ( CHINA V 's ENGLAND ) rather than tower apartments / buildings, where people don't even realise who's living next door!
I / city IS under priced, & still a GREAT investment , I would'nt dream of selling my units as the rentals are great!
Good luck.

 

[muqarabin]

The difference is that the current IC is built and IC3 might never be built
Big difference what do you think?
Considering the above you have nothing and you cannot talk about qualities on something that doesn’t exist

Yes IC3 hasn't been built but I can tell you here and now that it will get built, and on the basis of that I can talk about the quality. The quality of IC3 will exceed that of the current IC, even if the finishing is the same, the spec of the buildings aren't. That is the way I see and understand it.

 

[anwar khan]

The value of IC seems to shoot up very soon....ofcourse Kully Sanghera selling our units at the moment wouldnt be wise....Kully Sanghera and georgih can i have your email ids please? Its great you guys live in dubai thats very handy, you can visit your units anytime you like and see what is what...Anyway, I am happy to find out that prices are gonna go up!!! Good Luck

 

[mohammed abdul]

i am interested in renting out my greece apt studio 3rd flr with balcony please email private or ndotroufatntlworlddotcom

 

[Markus]

I have been doing some research and it looks like the average price most apartment are being advertised for in I.C is about 985 AED per sq/ft. But this doesnt mean they are selling at these prices,does this seem like true market valve or should I be looking to pay less in these times


Markus

 

[georgihh]

I have been doing some research and it looks like the average price most apartment are being advertised for in I.C is about 985 AED per sq/ft. But this doesnt mean they are selling at these prices,does this seem like true market valve or should I be looking to pay less in these times


Markus

That’s a good price. IC is the only project where selling and buying are happening in Dubai.
On top of that where can you get 10%+ rent from your investment – nowhere but IC.
Most of the flippers started to move their capitals in the highly profitable properties in IC.
Will be a slow down in Dubai but IC is different is a leaving city and the prices can still go up.
My advice is buy now and enjoy your rent return