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UAE property The UAE Property Forum has been created to service a growing demand for overseas investment property in new emerging markets within the UAE and outside of Dubai. Please use this new section to discuss property in these other Emirtaes such as; property in Abu Dhabi, Ajman, Ras al-Khaimah and Sharjah.

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UAE - Ras Al-Khaimah - La Hoya Bay Residence - Page 3

 
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  #21  
Old 17-02-2008, 03:30 PM
Rammah Rammah is offline
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Quote:
Originally Posted by muqarabin View Post
Rammah,

1 Not sure the exact size but from the marketing email I got quite spacious.
2 Some have see views and others dont, the ones that were being offered to me were on the fifth floor with sea view at £65K
3. La Hoya Bay doesnt seem to have rental guarantee
4 My agent said to me 30% deposit and 70% interest fee mortgage at completion, which is why they all sold out like hot cake.

Unfortunately I dont have much funds so I couldnt go for it.
Thanks a lot for this. the 70% at completion sounds very attractive, but that's in Feb 09 as far as the developer told me, so it's not very convenient.
I went for another one.

Rammah
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  #22  
Old 19-02-2008, 02:05 PM
dubailover dubailover is offline
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Quote:
Originally Posted by muqarabin View Post
Rammah,

1 Not sure the exact size but from the marketing email I got quite spacious.
2 Some have see views and others dont, the ones that were being offered to me were on the fifth floor with sea view at £65K
3. La Hoya Bay doesnt seem to have rental guarantee
4 My agent said to me 30% deposit and 70% interest fee mortgage at completion, which is why they all sold out like hot cake.

Unfortunately I dont have much funds so I couldnt go for it.

The booking deposit is 5000 dirhams, ( divide dirhams by 7.2 to get in pounds ),

then they want 15% of the purchase price by the end of the month.

then 15% 6 months later...

then 70% on completion.

In plain english you will pay approx 57000 for a studio, sea/pool view if you are quick enough.

I purchased yesterday, and there were a few odd studios available.

I am in RAK at the moment, let me know if you need more info.


PS the prices go up on 1st march by 7%, thats offical developer speak!!

My agent in RAK is brilliant, let me know if you want to secure anything.
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  #23  
Old 19-02-2008, 02:18 PM
naga7 naga7 is offline
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hOW Is RAS compared to Dubai

I am interested in this too, could you send me details plz

thanks
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  #24  
Old 19-02-2008, 02:35 PM
dubailover dubailover is offline
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Originally Posted by naga7 View Post
hOW Is RAS compared to Dubai

I am interested in this too, could you send me details plz

thanks
RAK is very beautiful, with great scenery, unlike dubai which is fast and furious.

RAK is where the dubai people are going for relaxing !!!

It is up and coming...

If you want glamour and glitz and London pace of life, goto Dubai, if you want the peace, tranquility and a laid back lifestyle you goto RAK.

It is 45 minutes from Dubai so you can have the best of both by living in RAK.

It is also very cheap to live there, Dubai is getting very expensive by the day.

You will pay approx 1000 dirhams for the La hoya bay project ( at the moment, due to go up in March )

I am in RAK at the moment, its loveley !!

let me know if you want to know more.
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  #25  
Old 19-02-2008, 02:43 PM
naga7 naga7 is offline
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Yes sounds very nice.

Can you direct me as to how to get further details on this project, who are the developers?

Thanks
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  #26  
Old 21-02-2008, 01:52 AM
es1 es1 is offline
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Hi There, Can anyone tell me if the La Hoya Bay residence is as easy to flip as the agents/developer say it is ... Is it the next big thing and is the price increase as good as they say it is, if so is it better to hold onto these. Also does anyone have an opinion on the better appartments the turet style or other and blocks aswell.. Thanks
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  #27  
Old 21-02-2008, 11:05 AM
Roshan Roshan is offline
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Quote:
Originally Posted by muqarabin View Post
Anybody hear of La Hoya Bay Residence....my agent I bought IC phase3 from tells me this is a new launch and that it is another version of Palm in Dubai....i.e man made island and with similar potential. Anybody with any insight?? I am considering buying into this
This project has been around for a long ime and not just launched. Yes, it would prove well in the long run and would be a version of the Palm Jumairah. Immediate flipping - a big question mark. I would not go into it for an immediate flip.

Water front properties tend to do well and turns out to be a good tourist destination. You could make money from short term rentals. Invest in residential more than commercial. Residentials tend to do well on such developments.

La hoya bay is a man made island and would take a very long time for it to be developed. If you can hold upto the full development being handed over, it would be a good opportunity.

Remember an agents job is to sell so that he can get his commission. Don't take everything on face value.

Regards

Roshan
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  #28  
Old 21-02-2008, 12:44 PM
Rammah Rammah is offline
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Quote:
Originally Posted by Roshan View Post
This project has been around for a long ime and not just launched. Yes, it would prove well in the long run and would be a version of the Palm Jumairah. Immediate flipping - a big question mark. I would not go into it for an immediate flip.

Water front properties tend to do well and turns out to be a good tourist destination. You could make money from short term rentals. Invest in residential more than commercial. Residentials tend to do well on such developments.

La hoya bay is a man made island and would take a very long time for it to be developed. If you can hold upto the full development being handed over, it would be a good opportunity.

Remember an agents job is to sell so that he can get his commission. Don't take everything on face value.

Regards

Roshan
I think Al Marjan Island is at advanced stage. I saw pics of it, and as far as understand, the island is almost ready, and project developments started! Completions dates may even be ahead of the Palms.

Rammah.
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  #29  
Old 21-02-2008, 02:04 PM
es1 es1 is offline
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Thanks for that Roshan and Rahmah will take comments on board do you have any other info on that development and do you have any info on the interest free option that is supposed to be with these app...
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  #30  
Old 21-02-2008, 02:47 PM
dubaiboy dubaiboy is offline
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Guys,
i dont think it will be good for flipping.But good for tourist destination after 5 years.All guys need to consider the water front development that is taking place in dubai and abu dhabi,tourism will have a lot to do with the country.
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