Prices will fall, for sure.When ? ? ? that is the question.May be as early as next year the same time .

HI ALL

Kindly let me know if anyone of you wants to re sell this

The developer prices are so high that is time for correction
Properties at JBR, Dubai marina and few others are very difficult to rent out.
Having in mind that more than half of the people buying properties in Dubai are investors or speculators the market can collapse in a few weeks.
If the above people don’t make any more money from resale they will look for something else.
What is going to happen is the properties with a good rental return will do well and the overvalued properties will drop price.
A 7% net from rent per year is a minimum the investors are looking for.
And more and more properties are falling bellow the above percentage.
For example
One bedroom in JBR is about 1.8 mil. The rent is 110000DHS (reasonable rent) less 20000 DHS service charges, taxes, maintenance and whatever, you net 90000DHS. That’s 5%
Having said that the realistic price should be 1,300000 DHS – Watch out.
Ok a lots of people are speculating and keep the flats empty but for how long.
The reality is on the way and don’t buy if your net profit is less than 7%

That is what i think as well. The difficult part is ascertaining what the 'realistic value' of a property is. What would be the right way to do this?

That’s the point – no body knows the real value
A lots of cash is available in UAE – that’s pushing the prices up
On the other hand the market is going to settle down (when I don’t know – maybe when the dollar stabilizes and the petrol drops down)
We don’t know what the real value is - play safe and invest in a property where you can net 7-8% per year.
The show is not going to last forever.

Ok the government will never let the market collapses but some people will suffer.
People are saying as far as the price of the petrol goes up the property market will go up, but the output of the petrol is limited and the property supply increases every year until we reach the point when the petrol money go somewhere else. This will be the turning point.

I think its becoming more and more difficult for government to stop the market collapsing since the prices are going up in absurd manner.

Hello Everyone,

Lot of people have been speaking about Eden Gardens, being new to the forum just some of my thoughts on the project:

1. The Project is back on track with shoring and piling being started (P.S. If i manage to get the photographs I will post it within a couple of days)

2. As many people on the forum have said Lokhandwala is a very reputed name in India so they will by any means complete the project, as reputations is at stake

3. People of Lokhandwala are responsive in their explainations as to the reasons for delay in their project, even to the extent of showing the entire formalities paper they have gone through for getting re-approval for adding parking etc.

4. They are accomodating enough to change payment plans for their investor's (Which in my personal opinion the investors are rightful to ask due to the delay in the project)

5. Locational Advantages:
a. Being One Block Away from the CANAL
b. Having Direct view of the GOLF Course which is already in place.
c. As per the Masterplanners Chart, it is also very centrally located and near to public community services like the park, primary schools etc

6. Infrastructure work is 95% complete in its location (the Circle) which includes roads etc.

Also attaching a file which indicates the location of Eden Gardens on the Latest Arial Shot of Dubai Sports City just for visualization sake.

I hope they are able to deliver as promised by Early 2010 or Mid2010.

Also had a few queries regarding the project, hope some people of the forum might have an answer to it,

1. Can the developer charge 2% transfer fees on the first transfer??? and forget about first transfer is the developer legal in charging 2% transfer fees as I have read some place that according to RERA it is illegal for Developers to charge transfer fees, yes they can charge processing fees but that would be a fraction as compared to the transfer fees.

2. In case of resale where people have paid under 30% then what happens, incase of resale in above case how would resale procedure take place, as i think the developer has some procedure in place where they are saying they will not transfer unless 30% payment has been made??? A very big question mark I would say and the biggest concern.

(So what resales are made on basis of MOU's only?? If yes then what would be the procedure from 1st seller to second seller, and from second seller to third seller so on and so forth)

3. I also would like to know generally in case of resale procedure where lets say for example only 10% we have paid to the developer as 1st installment on reservation form. and then we resale to some other person taking premium price etc. then what happens they will change details on the reservation form or what? as on their official records it will still show the first sale being done on the name of the first buyer, then where does the person buying from the first person stand.

I would really appreciate answers to my above queries, i know it might sound really basic, but am really new to it, so would greatly appreciate any help

Regards,

UAEREALDEAL

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Has the construction started on this project? I talked to the Developer last month and it had not started. But they are very transparent about it, for a change !

Yes they have entered the site, have started with the Piling and Shoring... as per my information they have entered 1st week of may... if any body has an answer for my queries in my earlier post I would be really grateful...

Wow guyz had heard that Tonino Lambourghini has launched a tower in Dubai Sports City with priced commanding around more than AED3000/sqft... Was not sure which location it was...

Today only I got to know where the location of Tower is and guess what a picture speaks better than words...

And am sure because of this all the surrounding area towers will hike up their prices, so Eden Gardens Investors will surely be happy by this Post

Regards,

UAEREALDEAL

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