IC is doing more than great

[georgihh]

I have visited an estate agent today and they give me the following prices
Studio 60000 DHS per year
One bedroom 80000 per year
Studio 530k +
One bedroom 750k +
And they said the land registration is taking place and they expect 15-20% price increase by the end of the year.
End of the year
Studio 600k+
One bedroom 850k+
Great news

[dalvir bains]

Hi georgihh & everyone, I agree with your prices 90%, your prices are o.k & Thats great news , but i am still saying that studios are worth 650k - 700k and 1 bedrooms are EASILY worth over 1 million dhms, there is nearly ZERO availability! no-one is selling untill dubailand is completed ( & should'nt sell! )
The rental prices you quote are great, what other development commands these fantastic rental returns?

[georgihh]

Originally Posted by dalvir bains

Hi georgihh & everyone, I agree with your prices 90%, your prices are o.k & Thats great news , but i am still saying that studios are worth 650k - 700k and 1 bedrooms are EASILY worth over 1 million dhms, there is nearly ZERO availability! no-one is selling untill dubailand is completed ( & should'nt sell! )
The rental prices you quote are great, what other development commands these fantastic rental returns?

Yes I agree with you
This was the problem couple of months ago too many units on the market and not enough clients.
Since two months ago everything changed and as you said nothing available or very few.
The problem is that around 15000 units are handed over and takes some time for the market to move the prices up.
On top of that IC has been bought mainly by people living in Dubai and never been advertised properly internationally.
Only recently Nakheel started promoting the development because of the Lake District.
I expect slowly but surely the price per sqft in IC to reach 1500dhs per sqft.
Look at Discovery gardens has been advertised in Pakistan heavily and the prices went up by 70% in less than six months.
But you never know maybe we can reach 1500DHS per sqft in a very short time

[dalvir bains]

THATS GOOD NEWS, I ( AND Fellow investors! ) are not making up these prices but these are FACTS you can still invest in i/city! & get a BRILLIANT RENTAL return , BUT be quick! don't be too late!

[Demoniise]

Hi Georg,

Those rents are they for 1 cheq or 2?

[georgihh]

Originally Posted by Demoniise

Hi Georg,

Those rents are they for 1 cheq or 2?

2-3 cheques I think

[anwar khan]

Thanks alot georigh to come up with such a fantastic news....Good luck everyone!!!

[kauser]

Originally Posted by georgihh

I have visited an estate agent today and they give me the following prices
Studio 60000 DHS per year
One bedroom 80000 per year
Studio 530k +
One bedroom 750k +
And they said the land registration is taking place and they expect 15-20% price increase by the end of the year.
End of the year
Studio 600k+
One bedroom 850k+
Great news

My one bed apt is due to be vacated in mid october & the agent I am currently using is saying I can expect DHS 65k in four cheques when new tenancy is taken. Is this a bit low? It will be rented unfurnished. Should I use a different agency. I live in UK & therefore am unable to go to different agents to check out prices! The current agent also charges 5% commission which is deducted from my 1st cheque.
Can anyone advise of other reputable rental agencies!

Thanks

[Demoniise]

Did your current tenent ask to extend the tenency kauser? and if he had would the rent have been the same?

[Yasir]

Kausar .. 65K For a One Bed is on the lower side .. The Ongoing price is 75K for 2 or 3 chqs .. so it wud be better to go for a different agency ..

and as they are charging 5% from u as well .. u shud change as soon as possible .. as here in Dubai No Agent Charges From The Owner ..