International City - Greece

[Fernandes]

Originally Posted by mk2301

hi fernandes,

studio prices are in the range of 360K aed to 385K AED. My advice will be to hang to IC property unless you need cash as values are likely to increase further as with any property the longer you hold on to it the better.

Hi mk,
I have read on the forum that some are selling there studio unit for 410K and above. My unit is 495 sq feet and it has a balcony plus it is on the second floor. Let me know if anyone is interested for a direct sale so we can both save on agent commission.

[Fernandes]

Originally Posted by mk2301

hi howsbuya,

good news nice to know demand is strong for greece. If you dont mind me asking what agent did you use to let out the property? how far sre you from the lake? and lastly any bad odours?

January 31, 2008
Hi Howsbuya,
Which building are you in?
Can you find out if Building No.L-3 in Greece Cluster ready where unit owners can move in?
Would you know if anyone interested in a studio unit?
Thank you

[riz1234uk]

Guys,

Just woundering has everyone got their keys? I have got my keys for all 6 apartments now. Have put adverts out to rent them. Looks like its going to be tough renting them out as lots of competition.

[Howsbuya]

I used Betterhomes (tel Dubai 2326225). They were very quick and efficient.
I'm very near the lake. People tell me there is a smell if the wind is in a certain direction but I have to say I have never experienced it. I mentioned before - the finishing is pretty good - very little snagging to do.
Cheers
HB

Originally Posted by mk2301

hi howsbuya,

good news nice to know demand is strong for greece. If you dont mind me asking what agent did you use to let out the property? how far sre you from the lake? and lastly any bad odours?

[aziqbal]

Originally Posted by Friend1422

Hi folks,

I purchased a 1 bed apartment in International City - Greece, via MINC / ROMOTEC / DUBAI GUERNSEY, about 3 years ago (nearly completing end Jan / Feb). This company has tied us into an 8 percent rental agreement on the original purchase price + Management fees for 2 years. Which is about 30,000 AED obviously the rent today is around 50,000 AED. The service charge on completion was 8,500 AED. So leaves about 21,500 (3,000 GBP per year at today’s rate !!!!!!!!).

Any one know what the service charge will be for future years, will this stay the same, go up or go down?

Any one dealt with this company on this forum? There contract also says they will make me pay for maintenance and utility charges that will eat - even more into the rent I get from them.

Looks like there 2 years 8 percent rental agreement is a total sham. I have tried to get out of their contract but they keep telling me because I signed up to them 3 years ago they are now going to hold me to it. I looks like I might have to pay them even more than what I receive in rent each year from the maintenance and utility charges.

Any one know what to do ?????

Friend1422 I am in the same position as you, when you take rental agreement you have to stick for it for the contract period which is 2 years in my case also

the rent is crappy and probably half the full market rent but saves you headache and plus since all the greece sector flats are coming online theres alot of competition unless your there hunting for tenets you gona have a hard time finding tenets from UK like me

[aziqbal]

Originally Posted by Howsbuya

Hi All
In answer to a previous question - yes, I am currently in Dubai.
I received my keys about a week ago and last weekend went up to see the apartment. I'm really happy with it - it's quite decently finished, the bedroom is quite big and the ceilings are high which adds to the feeling of spaciousness. Obviously, it's not huge but better than I expected. I spent a very peaceful, relaxing day there last Friday.Greece is a pleasant area - near the lake, which looks lovely.
It took 2 days only to let out the property - apparently there were 2 couples "fighting" over it and it's been let for Dhs55,000 per year from 1st Feb with 2 checks. The agents connect DEWA for the tenants - tenants pay the water and electricity costs.
So all in all I feel very happy with it as an investment. The agent told me he could sell it for Dhs600,000 and it's a great rate of return.
Best wishes
HB

Howsbuya why do you want to give some members here a heart attack! are you calling my bluff?

[reddevil]

Our agents have advised it will still be another 2-3 weeks before we can have the keys (it is not their fault, of course).

Howsbuya - I guess your tenents must be one of the first to live in the Greece sector?

Has anybody else managed to get a tenant for their property yet?

[riz1234uk]

Originally Posted by Howsbuya

Hi All
In answer to a previous question - yes, I am currently in Dubai.
I received my keys about a week ago and last weekend went up to see the apartment. I'm really happy with it - it's quite decently finished, the bedroom is quite big and the ceilings are high which adds to the feeling of spaciousness. Obviously, it's not huge but better than I expected. I spent a very peaceful, relaxing day there last Friday.Greece is a pleasant area - near the lake, which looks lovely.
It took 2 days only to let out the property - apparently there were 2 couples "fighting" over it and it's been let for Dhs55,000 per year from 1st Feb with 2 checks. The agents connect DEWA for the tenants - tenants pay the water and electricity costs.
So all in all I feel very happy with it as an investment. The agent told me he could sell it for Dhs600,000 and it's a great rate of return.
Best wishes
HB

Howsbuya, you almost gave me a heart attack. 600,000dhs is excellant. I am also going dubai soon . If thats the going price i will sell all six right now. I was told 520,000dhs.
I am still struggling for tennants. Any chance of giving me the contact details of the agency u used?
Thanks

[Howsbuya]

Hi All
A number of you asked a few q's e.g. which agents I used, if I let furnished or not, etc.
I used Betterhomes - tel. Dubai 2326225
I let it unfurnished - no white goods either.
55, 000 Dhs in 2 checks
The finish is pretty good.
The prices to sell I mentioned above (600,000 for a 1 bed and 420,000 for a studio) are what my selling agent told me - whether they are actually selling for that I don't know, but there are places at this price advertised in the newspaper.
Godd luck to all!
HB

[Lsab]

Hi,
Has anyone in K7 received keys or heard when we'll get them. The building owner emailed us to say that Nakheel have said it's at the 'de snagging' stage but still don't know when exactly we'll get the keys. They're certainly doing a great job of keeping us all waiting!