I am considering selling my studio but just wondered approximately how much I could expect to get for it? I was hoping to use the money to buy in another area off-plan and the remaining amount I would pay nearer completion. That way, I would have quite a considerable amount of time to find the remaining money after I had paid the lump sum from the money made from selling my studio. Has anyone sold their studio recently and how much did they sell it for?
I would be really grateful for your help.

Can you let me know where your studio is? Prices vary dependant on the sector location. Demand is very good though, and units are turning over.

Hi,
My unit is in Persia sector in N1. It is a second floor and is actually one of the buildings on the outside so is not surrounded by other buildings. I don't know if this would maybe add some value to it being on the outer ring of Persia?
Look forward to your reply.

Maryjo

Maryjo it depends how quickly you want to turn over the sale. 350,000 net to you with the buyer paying all the usual expenses for a Studio Apartment Persia would be a starting point.

Thanks Waynis,

Is it normal practice for the buyer to pay all the costs? I was thinking that after all the costs had been taken off the money made from the sale, then it would reduce it by a fair amount. But, it is good to hear about the buyer paying the costs.
Does anyone know if studios on sale in I.C. are selling quickly or are on the market for a while?

cheers.

I think I am going to have to make some decisions soon regarding selling or keeping my apartment in I.C.- Persia. Maybe some of you could help me by telling me what you would do if you were me?
Firstly, my studio has been rented out for 3 months which is supposed to end on November 8th. Before that it was being rented by a couple on a monthly basis. It has actually never been empty since I got the keys. So at the moment rental has been very good. I didn't want to rent it out long term as I had intended on using it myself occasionally. I had thought of selling it and with the money from the sale, I would buy another apartment off-plan, either in a better location or a better one with more facilities, e.g swimming pool etc. But, the apartment would not likely be ready for a while. If I buy off-plan then I will obviously get it for a better price and will hopefully make a profit once it has been completed. At the end I will have a better apartment and in a better location than my one in I.C. but at the same time, I won't have the money from the income I would make from the rentals each month like I have at the moment.
So, would you keep the one in Persia or sell it and buy a better one?

I really would appreciate your advice

Maryjo

I have a studio in persia for sale, can someone please help me with pricing, as i am a foreigner and getting all kind of different pricing. and also if someone is interested in getting a studio in persia.

MaryJo Sorry for the delay in getting back been fairly busy, All Costs associated with the sale are paid by the buyer, you will need to book with Nahkeel to do the transfer, (have posted the process use the search function ) it takes around 4 weeks to get an appointment, you will need Building Owner,Buyer and seller to all be present if not then some one who has Power Of Attorney to sign documents,again, I have posted the process online, it is not rocket science, fairly straight fwd however you can strike a hiccup if the building owner or owners will not turn up for signing. Have been contacted by an owner who is experiencing this problem.

Another one to watch out for when you sell is that many Agents are free lancing , troll the net and papers looking for apartments then act as middle men bumping up the cost even further for the buyer.Had this happen with me when I sold my first apartment at the transfer /sale at Nahkeel and told the guy to bugger off and saved the buyer 15,000 aed.

As for your question to Sell or Buy? You have really answered your own question, if you are buying another project off the plan use the guide line are Banks Lending on the project? Be aware that all projects are delayed in Dubai and that what is shown at the rendering stage and on glossy paper can and often does change with very little recourse to you the buyer. Also consider a good property lawyer to go over your contract, as this will save you in the long term. Be aware that most contracts are in favor of the developer, making little reference at all to your self, and some contracts do not even refer to the title. You should be aware of this having done the International City /Nahkeel affair where You have the master developer and then the contractor (building owner/sub developer)

You have no law in place which prevents Master Developers from advertising any developments that are not as they will be when finished.

Just take a look at the brochures and advertising fro International City and the Forbidden City...or hidden city as I like to call it...

Still lots of crocodiles and smiling alligators in Dubai just waiting to snap up the unexpected. Be carefull!

Hi, I bought a property here in IC as an investment 2 years ago, all my payments have been made up to date, so I own the property outright. The thing is, I have sold the property now making a small profit on it. How do I transfer the money back to the UK? The selling agents have the money in their client account in Dubai. (I am a UK citizen living in the UK) Someone please advice.

just give them your bank account in UK and they have to transfer the money