Short question,

those of you who already have property in JLT, how hard do you find it to get it rented out to the going rates today (2BR 140k, 1BR 110-120k, Studio, 80K)?

I'm think of getting something there, but a lot seems to be ready soon...

/R

If the flat does not go out immediately, would that hurt your mortgage payments or cash flow.

Right now the demand is more than supply andf nobody knows how the markets will move. But, if you buy something now, you might be able to find someone quickly as the demand is more and supply less.

You need to take a call considering this. What price are you buying at ??. Hope the prices are reasonable.

Regards

Roshan

Hi Roshan,
no - it's not a problem if it doesn't rent immediately. I would even consider living there myself instead of renting for a fortune as I'm doing now. It's even easier to sell without having a tenant to be considered by a potential buyer.

I think I've done my homework. Across the road, i.e. in the Marina, sqft prices are well above 2000 dhs, even for unfinished projects. If though it's prime location, most of the buildings are standing tight and many without any view.

In JLT on the other hand, sqft prices are around 1300-1400 for 2BRs for projects being finished right now, and 1500-1600 for 1 BRs. I think that's reasonable? Finished are going around 2000 as well, so my opinion is that there is space to grow. If Marina prices are still going up, JLT should follow right behind.

Well, we'll see...

/r

JLT prices have been on the AED 1600 psf for a long while. There is still some more juice left in that area.

If you are paying rent and gifting your landlord with a cheque every month. It's time you take it seriously and jump.

Regards

Roshan

You are right and I should probably have done it looong ago.
Now, it's just about finding a nice place to live in.

/r

Good decision about buying to stay. With the rents going up.

I stay in a comfortable 2 BDR which I took up 9 years ago and currently paying Dhs 40 K. The landlord is now giving this out at 100 K.

Makes sense to buy with the intent of staying.

Regards

Roshan

Hello Mazi,

I think it is an excellent idea of a buy to let and there could not be any great location other than JLT. The reasons are:
1.The price per sq ft is definitely lesser in JLT than in Marina which has already reached it's worth.
2. Once the infrastructure is in place it has a scope to increase and come closer to Marina prices
3. It will have Metro running right from the front of it and 2 Metro stations in JLT area.

If you are interested, I have a few 1 br in Concorde Tower in JLT for sale at aed 1220 per sq ft which includes transfer fee. These will be handed over by Nov 08 but are available for viewing currently. You can look at the construction of these apartments and then take a decision. These were released yesterday by a bulk investor. If you want to know further, I can send you the details by email. In that case please send me your email id.

ps: you are requested to decide soon,if you find it interesting, as the rates are very good and are expected be sold off fast.

Fal Pat, contact me: rami at symsoft dot com, I'm interested and want to view asap!

/r

Hi

I'm interested in the thread you mentioned - Dubai chapter of the forum " -how/where do i find it and what are the meetings you referred to?

I've also been thinkign of JLT for the buy to let - i'm sue when it is all completed very soon the prices will jump a little -especialy as dubai mall is just opposite. What good tips do you have for this area or would you recommend the marina to be better?

Thanks

Waterfont properties tend to do well better.

We have a thread called " Dubai chapter of the forum ". Pls put your details in there so that you do not miss out due to human error...and also send me an email to romel@emirates.net.ae so that I can include you in the email for discussions pertaining to the meeting.

Look forward to seeing you.

Regards

Roshan