Hi

I'm just about to take handover of a 2BR Jumeirah Beach Residence apartment - Tower D01 T01 31st floor, marina view.

Any opinions on the future outlook for JBR?

Do I attempt to sell now, or go for a long term rental?

Thanks

Hi,

Depends on if you want to rent it out. I've been quoted 126000 to 132000 AED for my 2 bed. It also depends on how much you paid for it and if your happy with around 130000 to 140000 AED for a quick sale.
I personally think there will be a renters market within five years due to the number of properties being built and it will come down to the location and quality of buildings, and I think JBR scores very highly on both fronts. So when the corrections happen JBR will be less affected than some of the overpriced off plan stuff out in the desert being marketed now.
So to answer your question, I personally would hold for about three years and rent out. The prices will go up and down mainly due to flips but once JBR is established, I'm guessing 165000 to 190000 AED as an average. This is just my personal view and I could be completely wrong but I did do a lot of research before my purchase and chose JBR over apartments on the Palm at the same prices.

Thanks Kingpin

So AED1.3m to 1.4m seems to be the average asking price for 2BR apartments for now, but i've not seen any evidence that one's ever actually been sold on the secondary market.

Difficult situation to call. You're right that JBR and one or two others would appear to be among the safest places to be to avoid or alleviate any downward correction.

Need to take into account any further downward move in the dollar. 20% further fall over next 12-18 months would have a heavy effect, though I do remember reading somewhere that the UAE intended to distance from $ some time in next two years. You'd hope that would result in an increase in AED value to offset further $ fall in the meantime.

I've been quoted AED125k for rental, not sure yet if this is an 'honest' appraisal of rental income.

Got to admit I'm worried. Struggling to see how anyone's going to be paying more than 1.3m for an apartment any time in next 2-3 years, what with the choice that's going to be on offer....but that ties in with your summary - rent for 2-3 years, sell at hopefully around 1.6m.

With the $ risk + uncertain future, I'd probably jump at a 1.4m or close offer now, but don't think that's going to come.

Hope you're right in your eventual 1.6m+ projection!

I am looking to buy a 2 bedroom in Jumeirah Beach Residence (JBR) Anyone selling their apartment please contact.

Regards,
Shiraz Farooki
+971503958850
shiraz@ecko.com.pk

i think you 2 are pro,s agents you are fishing
talking of 1.3m & 1.5m 2 bed on JBR every one know price on JBR is much higher
i hate pro,s on this site pretending to be Investors
then you canot belive any one who is who !!
Mirpuri

mr mirpuri
did i ask you for anything?????

I totally agree with Mr Mirpuri.This is not a site for agents to obtain business
yet they swarm all over it and ruin it.Go away and find somewhere else to play !

I agree. if you are just wasting time on this site, please find something else to do. and leave this for serious people. thanks

i dont understand you guys who is selling anything here
am i?

You have just got possession and you want to sell ??. Is it full Marina view, the apartment will be close to the beach. if the view is unobstructed. The property will do well on short term rentals or long term rentals.

Get an opinion from agents like Better homes dealing in short term rentals. Weigh the returns with long term which are generally much higher. Then take a decision what you want. I suggest you rent the apartment. Depending on when you bought, you would have already got a decent appreciation. As long as the rent covers the EMI, you should not be worried.

Marina & proximity to beach apartments generally do well on short term rentals.

Regards

Roshan I