Quote:
Originally Posted by SSM
Zan, stop beating about the bush and say what you really feel about Intl City. Intl City has proved one of the best investments for novice buyers in terms of rental yield (by far better than Discovery) and percentage price increase. Last time I checked there were human beings trying to make a living in Intl City and not Chinese, Filipino's etc. Say what you like about Intl City but don't knock the people. I've invested in Intl City and Dubai Marina and out of the two, from an investment perspective, Intl City wins hands down.
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In my opinion International City had been a very good Investment from both appreciation and Rental Yeilds perspective. I had bought my 1 bedroom for 350K 2 years back and now have offers for 650K so not bad apprecation.
The rental yeild is also much greater than other more expensive projects offer, its close to 18-20% had you bought this 2 years back and even if you purchase it now it will yeild 10%. My friend owns a great apartment in JBR, its yeilding him less than 7% and he too bought it a year back. Not to say that is a bad investment, just that you have to consider a lot of factors from an Investors perspective.
I remain buillish as well on International City. In a couple of years you should witness, higher apprecaition once schools, lakes and landscapting works are completed and hopefully the seweage plan relocated. Phase 2 and Phase 3 are lauching at even higher prices and that should push up the prices of the current ready property owners.
Dont forget there is are a couple of Malls that have been announced by Nakeel in INternational city, along with the new Lake District and Emirates Cluster...
In conclusion: Still a great investment and probably the only place in Duba where you could have an affordable living space in case you willing to live your self. The location and close proximity to all major landmarks and locations will remain this projects major Plus.
Over and out..
Mutahir.