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Alex1111 zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
Strawberries How much? Alex1111 75.000 interested? frenchie Hi, Does it still available? Payable with how many cheques? Am really considering to take my own appartment cause sharing is a pain: we get kicked by the landlord too often.... :cry: Frenchie :D Alex1111 ----------------- Chocoholic 1 cheque? Come on dude, be realistic, how many people can seriously afford to pay the rent up front for a year, you have to be a bit more flexible. The majority of landlords will accept 2, 3 or even 4 cheques now. By the way is it a 1 bed apartment? Alex1111 No I said 12 cheques and its a Villa not an appartment. Chocoholic Thats' Dudette! hmmm I won't be taking out a bank loan to pay my rent. scarlet 75,000, silicon oasis, 1 cheque hah ah ha hha hahahahahaah scarlet Ever seen the movie "the castle" Tell him he's dreamin'

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Alex1111 If none of u guys want it then what u getting so upset about.Go away and play with your toys.75.000 for a 4 bed Villa and your still not happy!Do u want it for nothing?! U won't find a Villa under 150.000 and I'm almost giving it away. I'm not one of those greedy,blood sucking landlords.I know what its like to struggle with money so I'm letting it go for a fantastic price.How the hell can u moan about the price?! Unbelievable! Alex1111 "Afterall, lets remember why we are all here - to make money" Could be taken out of the mouth of one of those greedy landlords. Personally I dont think they are to blame.Its the undersupply thats to blame.If you can get certain price for a unit that others may think is expensive then your'll go for it.I'm sure if you had a property to rent your sense of moral justice would not take over and rent the place for less then its worth,after all you did say we are all here to make money. Chocoholic We're not getting upset, but it;s greedy people like you that cause the constant increases in rent and constantly push the prices up. It's about time landlords learned a lesson. Plus Silicon Oasis is, lets face it, in the middle of nowhere, so as Scarlet says, the price is ridiculous, when you can get a 1 bed in International City for 55,000 Dhs. That should be more the price your looknig at. For 75,000 Dhs you can at least live somewhere on Sheikh Zayed road. Alex1111
What a ridiculous thing to say.I'm not greedy,75.000 is way below market value.It should be 240.000 as valued by 3 agents.
DSO is currently building many towers to include many many shops,restaurants.Also other projects around it are on the move
so all and all its a very up and coming area.
DSO may be in the middle of no-where for you buy not everyone wants to live in gridlocked Dubai.Access to main roads and easy to get to the airport for many of emirates staff who live there.
Find a villa in Dubai for anything near what I'm asking and I'll be amazed. Chocoholic Agents overprice things here by a long way much of the time. I can afford a nice place, that's why I don't live in the middle of no-where. But sersiouly, how do you expect someone to pay for their rent all in one go upfront, bearing in mind the deposit and agents fees, it comes to alot more than 75,000 doesn't it?! I own property and when it's ready people can pay me by the month - no worries! It's reasonable and how it should be done, like any other city in the world. But of course Dubai is a bubble with laws unto itself. I think you'll be waiting along time, unless you can be more flexible. dubaidog I agree with Chocs. For every month it sits empty, you could have reduced the rent and had it snapped up. I think DSO is in the middle of nowhere unless you work there. The agents really do over-value. I got my place for 35,000 less than they were asking....just by being realistic. There was an identical place across the road, and when they told me the rent I told them to get bent! THOSE greedy bastards kept calling with a reduction every time. Amazing how you go from 165,000 one check plus 5% to 125,000, four cheques, 5% included just by telling the agent to get lost. That place was just rented after sitting empty for 5 months, BTW. You can only charge what the market will bear. If you get 75k, good for you. Not sure of the availability of places in DSO are, but when the building is released, I guess you will see what the competition is. Alex1111
The property isnt lying empty,its wont even be ready to rent for 3 weeks.
As for DSO being in the middle of no-where,thousands of emirates crew live there and most seem to love it.Not everyone wants to live in gridlocked dubai like I said.Access to main roads is excellent.
Duabi is only 15/20 mins away.
Your experience with renting was prob due to the fact that it was overpriced to start with.
My villa is just about the cheapest I've seen in the whole of Dubai
and at 75.000 you guys aren't happy! Alex1111 P.S DDog,Scarlet and Chocs.Out of interest,if u owned a villa and were told u could get 240.000 for,how much would u advertise it for?75.000? somehow I doubt it. Alex1111 P.S to my P.S You knowhat,I agree with you.Rents in Duabi are a joke?I've always thought that.Still cheaper then many other cities but dubai isnt quite up there with Hong Kong etc yet in terms of statue as a city. 200.000 for an average 3 bed villa is a joke.I'm amazed at some of the prices I see quoted. Its all down to chronic undersupply.When oversupply hits then rents will be at a reasonable level.For now u have to pay whats being asked or live on the streets,or worse in Sharjah. Personally,I dont know why anyone would waste money on rent and not try to buy their own place instead.
Chocoholic First off, the Emirates crew that live there - don't have a choice! They are basically told where they will live, as all their accomodation is provided for them. Secondly I wouldn't go solely on the agents advice, I'd see what the rate is for similar places in different locations. Personally I wouldn't use an agent at all, but do it myself as most of the agents get money for nothing if you ask me. As has been said, if you get what you want for it, then good for you, but I still say you need to be flexible on the payment terms. To put it into perspective, I have a huge 3 storey, 3 bed villa in Mirdiff, with pool and gym and maintenance and pay in 3 installments for 93,000Dhs. To me there just is no comparison. Alex1111 The emirates crew do have a choice.They can take their living out allowance and live elsewhere.DSO is very convienient for them to get to the airport. As for agents,I have looked at many rental prices on the net to compare and dont just take agents advice. As for being greedy,most people are paying 75.000 for a 1bed at International City yet I'm offering a villa. You have a very good deal for your villa it seems.Dont know what kind of area your in,but I would assume yours is not an average price so well done. Why are u looking into this thread if u have somewhere? Chocoholic Nope, just checked. Emirates crew do not get housing 'allowance' they get assigned accomodation, there is no choice. They can request to be in a certain area, but there's no guarantee. Only management get actual housing allowance. Plus they get bus pick-ups to and from the airport, transport is provided for them, they don't have to do anything. I've lived in the villa for the last 4 years, and even though the landlord has managed to wangle his way around the rent caps everytime, it's still a damn sight cheaper than anything else. It's an older style villa, but that actually means it's way bigger than all these new ones that are being built, and near Uptown, so is great. You can still pick up a 2 bed villa in Mirdiff for 85,000 Dhs, with not much problem. Lets face it even if you have a 3 bed villa at 120,000 Dhs a year, between 3 people, you're still only paying 40,000 each. Still no contest. I've always been interested in the property market here, I've even sold a few apartments myself. Plus as I said before, I have also invested, so am keeping a keen eye on the going rates in all the different areas. dubaidog Alex, it is no secret the property market is a hotly debated topic. Do I wish I bought my villa last year when it was worth 1.7 vs 2.2 right now...yup. I think Choc's point...and correct me if I'm wrong...is value for money. WHy rent a 1bed apt. for slightly less than a villa when you get your parking, easy access, the whole bit with a villa. It is also about a person's PERCEPTION of value. I value my time, and won't drive to/fro Sharjah even for half the money. I found nothing for rent in DSO when I looked this afternoon. You are in a good position to set the benchmark. I hope you get your 75k, however, for another 10k I would rather live in Mirdiff and have a villa. When I looked at places here, I chose Arabian Ranches, even though it is a pile more than Mirdiff. I work in Media CIty, though, so my commute is minimal. It is all a trade off. I looked at a Marina Apartment as well, but those glue sniffers wanted about the same as I am paying for a villa with 2 parking spots, nice yard and a pool 30 meters away. Your target market for a 1 bed is a single professional or working couple. If I was single, I would rather have a villa and share a-la-Chocs. The person that rents in DSO will also need a car due to the location. I know a couple that is looking for a place, the guy's office is in DSO. He was looking at renting where I am, but I will call him and run it up the flagpole and see if he salutes. If anything, you would have some insight as to what your target market is thinking. Can you post or PM some pics for me. Oh yeah, you should re-think the yearly rent thing...people don't have that money anymore. I have seen lots of people at work not take places they like or can afford because the landlord wants it up front. Alex1111 Chocs my fiance is a purser for emirates and as I undestand it crew do get a living out allowance.However,I've advertised my unit on a DSO forum used mainly by emirates crew and alot of staff say good things about the area.At the moment DSO is a little empty but like I said many projects are underway.IT Plaza for example will be finished in a few months and will contain 70 shops and restaurants. I dont know what kind of an area Mirdiff is like I said but personally I'd like to be nearer to dubai.The choice is a big place at Mirdiff or small place in Dubai. Ddog.I know ARanches very well as my fiance owns a villa there.The best residential development in Dubai without doubt.When this place is finished it will be even more desirable.However,could I live there? a little too quiet I have to say.For families its fantastic but given the choice think I would prefer the marina.Saying that,in 5/10 years when much of Dubailand is finished then AR will be a great place to be. If you pm me your email address I will send you details of my unit for your friend.Thanks for your help. Chocoholic DD, spot on matey. It is about value. And as you said, I would rather drive a little bit and have an amazing roomy place to live, than pay quit literally nearly half my yearly salary on rent, which is ridiculous. Afterall, lets remember why we are all here - to make money, not spend it lining the pockets of landlords. Chocoholic Under supply is a total fabrication. Go down to Dubai Marina/JBR, and see how many of those buildings are completed, yet totally empty. Again in Mirdiff, lots of completed, but lying empty. The problem is a severe lack of 'reasonable' accomodation. People just are not willing to pay ridiculous prices anymore. Also my father is a manager at Emirates dealing with crew, that's how I know what they get and what they don't. Alex1111 mmm,maybe my fiance works for another emirates company in dubai. Your right,many properties empty at Marina/JBR.However,many are empty as the owners are waiting for the prices to rise a little more and then sell.Also,alot are owned by people using them for holiday homes. However,the luxury end of the market is likely to be harder to rent unless u are willing to share a 2 bed and split the cost.If u want your own place then Int City and perhaps Discovery Gardens are ideal.Dubai needs more of these types of developments.This next next year DSO will also have a number of reasonably prices units.As for Mirdiff,I expect its just harder to rent as people want to be a little nearer to dubai maybe. I'd like to know how people in other major cities like London and New York manage to pay the rent.In comparison Dubai is still cheaper plus wages are tax free. arniegang
its easy
take london for instance. You can buy a 2 bed appartment within the capital easily for £200k. the average price for a half decent 2 bed appt in say the Marina is £300k.
we can fix a 2 year mortgage at 5.25%
The average wage for a professional in London more than in dubai with a few exceptions obviously.
Its not rocket science and its easy to see why the expat gravy train has ended. Alex1111 Arnie thats total rubbish.Your figures are the wrong way round !! A decent 2 bed in london is £300 K easily.At the Marina or JBR around £250K. The point I was making is that people in London pay heavy taxes and high rents.In Dubai there is no tax so people are likely to be able to afford rents.That isnt to say that I think the rents are too high cos I actually think they are. arniegang i repeat you can get a nice 2 bed in london for around £200k (not central) i repeat you wont find a decent 2 bed for under 2million Dhs = £300k in the Marina, note the word decent ie NOT Marina Diamond 1,2.3.4....and NOT JBR arniegang please take a look alexat this &tr_t=buy in fact, if you look on you will see quite a lot of 2 bed flats for sale in london for 200k :D arniegang please take a look alex at this &tr_t=buy in fact, if you look on you will see quite a lot of 2 bed flats for sale in london for 200k :D Concord Good to see some people are standing up to greedy landlord. Good for you DD. More people should do the same. Hey Alex, I'll give you 24K for the place 2K/month. scarlet Who changed the title to Shed? Its probably a good description for DSO Chocoholic I drove past there last night and there's absolutely nothing there. Building site at the moment. Mirdiff these days is not that far out of town, with the new Garhoud bridge and business bay it only takes me 20 mins into town now. Plus with Festival City, there's a lot more nice things around that area these days. The places that are standing empty are once again, down to landlords asking for stupid rents, when you can still find decent rates. Alex1111 Choc if u had a marina 1 bed appartment to rent in a tower where people were paying 120.000 a year,how much would u charge? Alex1111 P.S That question goes out to everyone. Chocoholic Yes it's all about location, location, location. even in Jumeirah Lake Towers, a studio will set you back 85,000 Dhs. In the Marina, you can sort of justify it, again because of the location, however basic infrastructure is still not there, it's one road in, one road out, the traffic is a disaster in that place. If your company is willing to pay for it, then fine, but when accomodation allowance doesn't event cover a third of your rent, then you have to weigh it up. Everyone's situation is different, some people will be happy paying that, others will not. Again I'd rather share and live in a big place where the rent is lower. Alex1111 Choc so now you are saying some rents are justified.A bit of a climbdown. Ok,so u have a unit at DSO,everyone there is paying 75.000.How much do u charge? Chocoholic I wouldn't oiwn a place over there anyway. Don't like the location. I've said all I have to say on the subject. Alex1111
In other words of course u would ask for the same rate as everyone else.I rest my case. onetickin
Ex-council flat in Peckham vs apartment in the marina. No comparison.
You really have managed to pick one of the worst areas in London to compare to one of the best in Dubai. Very good. onetickin Tenants are free to choose how much they want to pay, and landlords are free to choose how much they want to charge, therefore, Adam Smith's invisible hand suggest an equilibrium will be achieved. If you can't pay, then pack your bags and leave. Go back to London (if that is where you're from) and pay GBP200k for an ex-council flat in Peckham. Besides greed is good, and if this free capitalist market spanks my ass (and every other property investor) later when prices collapse, then I deserve it. onetickin
I would charge 150k a year, then realise no tenant would be prepared to pay. Since greed is my only motivation I would be forced to reduce to 120k. Then I would post on a forum - "tight tenants not paying landlords enough" onetickin
I repeat 2 bed in London for GBP200k ex-council in Peckham not nice.
I repeat 2m AED in Marina (not Marina Diamond) decent and available. Alex1111
I never even bothered to check cos I knew it was bull and u just proved it. Alex1111
I think the main point here is that as tenants,these people are obviously going to moan about rental prices,I would.As owners though which they are not,they would ask the going rate for their property and it would be real nice if they,especially Choc,admitted it.
P.S Oneticket u interested in my shed? Chocoholic I'm not going to admit to anything. I'll see what I will do when my property is delivered next year. Alex1111
In other words if u rent it you will rent it for the going rate even if others consider it high.I rest my case. onetickin Alex - No thanks, I'm not in need of a shed. But, charge as much as you can, and good luck with it. Plenty of tenants moaning now, but none will have sympathy when, and if, the equity values collapse for landlords. Choco - please rent me your place when it is ready, but for lower than market price, otherwise I will call you a greedy landlord. Chocoholic
That maybe, but my biggest problem with you is that fact that you want a whole years rent upfront, which is totally unreasonable. As I said before I'm perfectly willing to rent on a monthly basis. Actually my apartment will be for short term rents, not long term. Because of it's location it's more condusive to that. onetickin yes, short term rents are more profitable (albeit more work and managing). Damm greedy landlords!!! Alex1111 Choc I did say I would except 2 x 6month cheques.As for 1 month cheque,I'll do that if u pay me double the going rate.Ok? Otherwise,please tell me why the hell I would? Chocoholic For the very simple reason that it will make it easier to rent! Are you really so dense so as not to understand that fact. Why do you NEED a years worth upfront? Nowhere else in the world does it work that way, drag yourself into the 21st century would you. Alex1111 P.S Would appreciate it if Chocs & Co did not corrupt my new thread so please don't post sarcastic messages. onetickin If Alex wants 1, or 2, or a massive 10ft*5ft cheque then that is what he wants. If no tenant is prepared to give him what he wants, then he will have to reduce his demands. He needs a years rent upfront because- 1) doesn't have to deal with the hassle of 12 installments. 2) can now use that capital to buy another apartment, and try to make more money 3) most of all his motivation is money. He wants lots of it. No where else works in that way because there are enough landlords to fight over each other to get tenants in. Until Dubai is flushed with supply, landlords don't have to compete against each other. Alex1111
If I'm dense then god knows what that makes u!
Firstly,I have said I would take 2x6month cheques.Secondly,when everyone else is paying 2x6 or 1x12 why would I take monthly cheques?!
I'm in no hurry to rent and as soon as its ready and my property agent has advertised it will go straight away.I'm just doing a little free advertising here myself,thats all.
Oh,just a question Choc.When your place is ready,am I right in thinking not only will u rent it for much less than the going rate,but u will also accept 12cheques even if u can get 2x6? Alex1111
Errr,ref to point 2 -After I've paid my prop.management fees,
snagging/handover fees,been screwed for maintenance,registration fees with DSO headquarters,transferred money back to UK and lost on currency exchange,then been screwed by the goverment for tax,
the only living accomadation I'll be buying is another box!
One day Dubai will indeed be flushed with supply so thats why landlords are getting as much as they can now cos when the oversupply is here I'll be lucky to get 30.000 onetickin Alex, and when that time comes, I hope someone here (maybe Choc) will stand up for the greedy and unreasonable tenants. Good luck for now, and get as much as you can, because no tenant is going to give a damm if you can't keep up with payments as long as he/she has cheap rent. Alex1111 Before the time when tenants have the upper hand,long before,Chocs herself will be a greedy and unreasonable landlord trying to get as much as she can for her property. scarlet
Because your mortgage payments (if any) are monthly Alex1111
Oh heres the other one who would rent a property for way less than the going rate and do it monthly when she could get 6monthly.
Errr,all the other fees listed have to be paid right away dude. scarlet
err dude you're living in a false economic world and you'll get hurt when Dubai standardises with the rest of the world. So what you have to pay rates, maintenance etc up front? That's what happens everywhere else. Chocoholic Geez by offering 6 monthly you sound like you're doing people a favour - not likely! News flash Alex, paying monthly is the norm in any other city, anywhere else in the world. And why would you be paying less, to spread it over a year? If anything it's more convenient for both sides. Scarlet give it up chick, he just doesn't get it. I'm sure he soon will when he can't rent it out. Alex1111
Doing people a favour?Nope,but like i keep trying to get through to you,thats how the majority pay.So forget what they do all over the world,this is dubai and right now this is whats happening.
Choc your a complete hypocrite.You more or less admitted u will charge the going rate when your unit is ready.No doubt if Scarlet,miss charity worker had a unit she would do the same so please don;t preach what u wouldnt practice. Chocoholic Alex, my circumstances are different than yours, in the fact that I will be doing short term rentals, not on a yearly basis, so of course the rents will be different. That's the way I and other people who've invested in the same project as me are going to work it, so you can't compare. You don't know what the 'going rate' is for SO as hardly anything is ready there, so you have nothing to compare it to apart from the finished complexes around it, which we have all stated rent for much less than you are looking for. You just go by what the agents tell you, well WE the CONSUMER are telling you something different. Now sit down for a minute and think who you should actually be listening to, the people out there making money of your back, or the people who're more likely to put money in your pocket. Doesn't really take brain surgery to firgure that one out now does it. And the argument 'oh that's Dubai, that's how it works' is pathetic, you go ahead and be a sheep and follow the herd - baaaaaaaaa! I have already stated that if you get what you're asking for it, then good luck to you. And as I have already stated, seems I have to repeat myself, the problem I have with people like you, are your payment terms. 4 cheques is the norm these days, not 2! I've worked with people buying properties to rent and to live in, I have lots of friends who work in the industry so I've learned much about it. I know what I'm talking about, so I don't have to justify myself to you or anybody. Alex1111 I do have something to compare it to,International City where a 1bed goes for 65.000.DSO is a far nicer area to live at so 75.000 is right.Like I said 3 agents valued it,maybe one of them is one of your friends. As for your rental demands,whether u are renting short term or long term will u be asking for the going rate or will your charity head kick in? Chocoholic Well that's a random sweeping statement. When the 1 beds in the cluster of International City go for 55,000 and no more. The higher priced ones are in the large self contained buildings which also have gyms, pools and underground parking. So you have to be more specific. So to that end, what facilities does your apartment have? what's the square footage? Does it have balconies and what are their areas? Come on Alex, give proper info instead of half of it. And as many of the forumers have said here, most of the agents are pretty much daylight robbers. Alex1111 Tell u what Choc,I'll answer your question when u answer mine finally .Are u going to rent short term for the going rate,even if most would consider it to be expensive,or will u rent for much less? Would u also do that if u were renting long term? I'll expect a proper answer this time. Chocoholic Well considering the project won't be finished until december 2009, it's impossible to say what the going rate will be. But I will be looking at the rates hotels would charge for furnished serviced apartments. It will take alot of research,because of the location, the calender of events, it will fluctuate from month to month. There will be no long term rent. The person I am aiming at are those coming into town for short breaks, for events, business etc. There will be highs and lows and the rates will be adjusted accordingly. Which is different to long term fixed rents. Alex1111
Well considering hotel rates in Dubai are extremely expensive due to the lack of supply,and as by Dec 2009 it will still be the same,then in other words u will be charging alot.
Therefore,u are no different from all the other 'greedy'landlords.
You can make alot of money with a serviced appartment so I hope all those dirhams will help supress any guilt u may feel. onetickin
Exactly!!! You are a genius!! Someone give her a peanut.
He will have to adapt to 4 cheques, or 40 cheques, or phone credit, or food vouchers, or whatever when there are too many landlords chasing too few tenants. But, for now, Alex can and will ask for 2 cheques.
Since when did Greed give a damm about norm/fair/reasonable?
And as for "getting it", I see very little economic acumen in your posts. Acutally, I'm incorrect, your plan to rent to short term lets is in persuit of a higher yield than long term rent. Chocoholic Why should I feel guilty about running something as a business? And I said before there is well enough supply for the demand. And you still didn't answer my question, so I can't tell whether that you're asking for is justified. Alex1111
Oh I see,cos your running a business your allowed to screw people!You really are some kind of hypocrite.
Actually,mine is a business too so am I excused or am I still a blood sucking landlord? Alex1111 Like onetickin has explained a couple of times,times are good for landlords now,but when the oversupply hits,and it could hit big big time ,then landlords like myself will be screwed by all those poor unfortunate tenants out there. Don't think it will pass u by Chocs,there will be tons of hotels and serviced appartments in the future also, and when that is u won't be screwing anyone either! scarlet I can't believe you are in the Real Estate industry Alex. I'm glad you put your name in your handle - it means I can avoid dealing with you in the future. Chocoholic Alex, get over it, you are obviously thick as a plank as you just don'tget it. So it's pointless explaining it to you. I know the market, I know what's what, I know what's fair and what's not. You're just a plonker. And why am I a hypocrit? Your apartment is a good size, has great facilities etc etc. But the area is dubious to say the least. For rental incomes, I would take the highest and lowest and place the property somewhere in the middle, good all round, no probs. You're just pissed because people are justifying the fact that the area doesn't validate those kind of rents, adn we have better ideas that you didn't think of. change career mate, cause clearly it doesn't suit you to be in Real Estate - hahahaha Alex1111 I think your the plonker Choc.Even after all this time u still havent said u will rent your own personal unit for less than market value if u feel its too expensive.One,big,boring hypocrite ! Scarlet,I am not a agent !!!!Your as stupid as your thick friend ! onetickin Alex would like X, and if he is unable to obtain it, market forces will force him to reduce his demands to Y. What is so difficult to understand about that? How can he possibly be a plonker for attempting to gain the best he can? If he can not, he will reduce his demands. As for what it is worth today, the market forces will dictate that. The idea that Choco knows her market and economics I find quite funny. Alex1111 Whats quite funny onetickin is that although Chocs thinks all landlords are greedy sons of the Anti-Christ,she still has not said she will rent her unit for less than it's worth.Isn't that a hypocrite?! Alex1111 Errrr,u guys need to read the first page and a half again. Alex1111 Arnie thanks for emphasising what I've already established and that is that Chocs is a hypocrite. Why do u say do not buy now?Most reports say oversupply will occur around 2011/2012 but who knows.No-one can predict how many people will move to dubai in the next few years so who can say when oversupply will occur. I think to invest in dubai is for the long term.If u are able to ride out the inevitable price corrections then on the other side u should be ok. Dubai needs to work hard to encourage businesses to open up there. The fact that Business Bay is still a baby doesnt help yet when finished thousands will work there. I think in 5 years when the metro is almost finished,alot of the construction in Dubai centre is finished,and many of the wonderful projects are opened then people will flock there.For now alot are put off by the mess. Chocoholic Now you're just being silly Alex, wanna get done for false advertising?! I actually spoke to my friend yesterday about SO and your apartment, giving him all the stats. He is a Real Estate Consultant, so totally unbiased and makes his living from giving good advice. He said the problem with SO is that they've had problems over the last 12 months and the values have only gone up by about 4% in the last year, which is nothing compared to the increase in value of properties elsewhere. Bearing in mind the location, facilities available, size etc - it's not a community project, but commercial and residential - and the other areas of residences close by, a fair rental price would be 60,000 - 65,000 Dhs max for the first year. He said the agents will lead you up the garden path and give unrealistic figures, which they know damn well to be too high, getting your expectations up. Think about it, if you're going through and agent, the higher they put the price, the higher commission they get and don't forget the majority of these guys don't get a basic salary, they work soley off commission, so of course they're going to tell you inflated prices. That's the last thing I have to say here. My friend is a professional, who know his stuff and as I said is not an agent or broker but a consultant, so will take into account the big picture. onetickin This thread makes me laugh. Alex1111 Thanks Choc but have been contacted today through another agent and has seperate clients who are ready to sign now.The price I asked for and possibly one cheque.Apparantly he has had huge demand for the area.So hopefully it will go through. Your friend is talking rubbish and obvioulsy doesnt know DSO whereas I know it inside out believe me.4% in one year is total rubbish. DSO is the dark horse of Dubai and is staring to boom.In the last couple of days its been announced Porsche are setting up their middle east headquarters there plus Emarr business park is relocating there. Already at least 100 companies have licences for the area.Microsoft are setting up there.Unlike places like JV,DSO has the infrastructure,roads etc in place.40 projecst ranging from single 8 storey buildings to the large German Business Park are either under construction or about to start.Also another 1042 villas under construction. Plus of course many other projects to be launched and companies to move there. If your friend wants some proper info please ask him to contact me. Thanks. Chocoholic Oh Alex, get over yourself would you! My friend knows exactly what he is talking about when it comes to this market and all areas come to that. Did you ever stop to think that some people might be privy to information that you're not? Hmmmm didn't think so. DSO is not a dark horse by any stretch of the imagination. Clearly you're the one who's been kept in the dark with incorrect info. There are people here that know more than you you know. I don't think much of you. Good luck with it, I've said all I have to say on the subject. It's closed, by I think you need a serious attitude check. Alex1111 I can apprectaie your upset Choc, It looks like I'm getting what I asked for and at worst 2 cheques.U must be devastated. Regards your friend,when I say I have done extensive research into DSO thats probably an understatement.I know 95% of all the buildings going up,the developer etc etc.I know many of the companies opening up there,have spoken to some myself,know their plans.I have also spoken to many agents about DSO,half the time I seem to know much more then them!(maybe your friend was one of them)I have also been in contact with management of DSO.Believe me when I say your friend doesnt know DSO he doesn't,take my word.4%?!I know units sold in the same building as a studio I have there that have been sold for +30%!! Your friend is a moron,drop him and find someone else with a brain! P.S.Can u give me your email address?when I holiday in Dubai next year I want to stay at your half price serviced appartment.Thanks xx onetickin Congratulations Alex!! Don't let anyone tell you what the market is. Market forces will do that for you, and as it stands, it appears to be 2 cheques, and what ever your price was. Fair, reasonable. Business certainly shouldn't give a damm, unless you're a charity case, which you clearly are not. Alex1111
Thanks onetickin.See Choc,at least someone on here isnt consumed with
jealousy!
P.S Is Nov 5th - 19th next year ok for your half price offer?could pay a deposit now? arniegang
Chocs
You will not be getting any income from your appartment until after the first 12 months have passed. And, under the terms of your contract, if the income doesn't exceed expenditure, you will owe them money.
Why are you all giving Alex a hard time. 75k wont rent you a garbage bin in the marina.
Alex, just carry on mate. There is a flat share on here going at 3k plus utilities so your 75k sounds to be pitched about right. You may have to negotiate down so it starts with a 6 maybe if you want a quicker shift. arniegang
Chocs
And there are people who know more than your friend ya know :P
Your friend only knows what he chooses to tell you Chocs. Some people are gullible enough to believe the hype and some dont.
Maybe if you had listened to others 2 1/2 years ago you would be in a better position make comment now. Dont forget you were telling everyone what idiots they were buying in Dubai.
In Dec 05 when i said buy buy buy everyone including you were saying crap crap crap. Just think Chocs, on a 1 bed appartment you could have been sitting on a very nice 600-800k in your bank now :P Alex1111 Thanks Arnie,someone else who sees sense thank God.I havent figured out myself yet why she's giving me such a hard time.I think I'm being held responsible for the high rents in dubai. As for my place.It looks like I'll be getting the full 75.000,got two separate clients apparantly who want it so hope to get a contract signed any day. I wish I was in Dubai now so as I could take Chocs out to celebrate. arniegang
Chocs you may have to retract this post, remember when you posted this


:lol: :lol: :lol: arniegang
People like Chocs are always the "wise ones" with hindsight Alex. And those same people are the ones that laughed at people like me who had "foresight"
Who laughing now ehhhhhhhhhh ??
Now me, with the benefit of doing this for longer than most of your ages, i am saying DO NOT BUY.
This post will appear in 3 years time and i guarantee there wil be tears, i will try not to laugh at those who have lost money they cannot afford. Chocoholic Yawn - ZZZZZZZZZZZzzzzzzzzzzzzzzzzzzzzz Chocoholic Arnie, we already know that you have a 'biased' opinion. Plus you seem to have missed that fact that I've already wished you luck with it on several occassions, if you can do it great! But just be aware of other factors is all. Nothing left to say in this discussion. Alex1111 Choc u need to come back with a valid argument to restore some sort of credibilty.You've already proved you are a hypocrite on two points. spoonman She doesn't have to prove anything to you. We haven't forgotten yet that you quoted an article without stating the source. Shame on you man. :D Alex1111 OMG u jerk are u for real ! what the hell has that got to do with anything?! I put the source in after,I forgot the first time and didnt think whiners like u would wet themselves over it.Ask your friend who put u up to this to explain her hypocrysy or go away and play somewhere else ! onetickin
Yipee!! Not like it is worth anything listening to anyway. lol Alex1111
:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: arniegang
dont understand the biased opinion Chocs, it makes no sense. However, i do have an opinion yes.
You know what Chocs, i have tried to tell you about the Cube, you are blinded by those that have tried to sell you something and you have taken the hype, hook line and sinker.
But obviously your "friends" know better than Emaar and Somerset House who have both tried to run serviced appartments in the Marina and both have failed miserably.
Serviced appartments cannot compete with hotels. The cube is not and never will be a 5 star hotel on the basis of owners subletting their appartments back to the holding company.
Me, it makes no difference to me Chocs, you go ahead and borrow the money to finance a project that clearly the developers do not have enough faith or clout in funding their own Hotel with their own finance.
They are not taking the financial risk are they ?- you and 250 others are. As i have said before Chocs i also wish you luck, you are very very brave indeed.
Its a gamble, nothing more nothing less. If it fails you are in really deep s.h.i.t. St.Lucifer
hahahah a :lol: Classic.. classic spoon man :D I couldnt stop laughing.. :D
Aight.. I read the whole thread..
Alex - Good on you mate.. I've been interacting with DSO authorities on some business, SO is soon gonna be big. A lot of companies are opening up there. A whole lot of DAFZA, DMC, DIC companies are moving to SO.
Apart from that, the Academic city also adds value to the area. It's agreeable that the area lacks any sort of infrastructure at the moment.
But to be honest.. I'vent seen many other places apart from Bur Dubai that has all the amenities at an arm's distance. :P
To say anything about rent, I can only be with Chocs and Scarlet coz i'm just a poor consumer. but it is the market rates and market forces that decide the rents..
hey, you took the place to do business.. so nothing wrong in asking what ever price u feel like asking.... and honestly I think its the big business groups who have to be blamed for the un-reasonable rents.
Chocs - All the best with your business venture.
Arniegang - You rock. Can you gift me some of your money or can I have one of your apartments for rent (obviously at a lower rate :P) arniegang
Alex most of my opinions are posted in the other thread here in Accom. Basically though you have answered your own question. Oversupply will start to take effect if the published completion figures are correct starting in 2010. Anyone buying "off plan" now will hit the market 2010/11.
It is generally agreed the market is currently over inflated by 20%. This figure can only increase in the short term whilst everyone is trying to get on the bandwagon.
To be frank there maybe money to be made, there may not. The question you have to ask yourself is can i afford to wipe 20-30% from my investment. Its a gamble ... thats it.
I was buying stuff when they were selling 1 beds in JBR @ 500k dirhams. Then it was not so much as a risk as it is now. Also i dont have to borrow the money, so i was gamblimg with my own funds. Also dont forget then Emaar and the others were only asking 30% deposit the balance on completion. So i was only gamling with around 200k.
Its no different to a casino. If you cant afford to loose it, dont gamble it.
When i f.u.c.k up i admit it and my biggest one was not buying off plan in Arabian Ranches when they were offering 4 bed plus maids for just over 1 million Dhs. Its easier to kick yourself and say "i wish" without losing a dirham, than believe you are going to make millions and end up losing bucket loads of cash.
Ask any Brit who bought in Florida or Spain 2 years ago, how happy they are with their investment. Thats if the have not already slashed their wrists. Alex1111 "hey, you took the place to do business.. so nothing wrong in asking what ever price u feel like asking.... " Only asking for what I was advised on. Please translate DAFZA,DMC,DIC?I'm a little dense(not as much as Choc & Co) Alex1111 1 BED JBR FOR 500?! I HATE YOU ! I HOPE DUBAI GETS HITS BY AN EARTHQUAKE AND ONLY JBR TUMBLES ! Errrr,anyway.My plan is to see what the market is like a year from now when the 1 year contract my new tenant is about to sign expires. If it looks ok I'll keep another year and do the same.If things are starting to slow up by then and not looking good then I'll sell. Alex1111 Missed your bit about Arabian Ranches.My fiance brought there and its worth a bomb. I wish in the UK 3/4 years ago they had reported on the Dubai market as much as on Bulgaria,Spain zzzz etc.For sure me and many others would have invested.It's only since beginning of last year I became aware of what was going on out there but by then it was too late to go for the good stuff. St.Lucifer
Like I said, you took the place to do business, u r gonna ask the maximum u can make, n consumers like me ..I'm always gonna say ooh u are so greedy.. :D hahaha
but does it hurt? nope. If I buy a property here i'm gonna ask whatever best it can get.
I dont know what was that fight all abt.. may b Chocs has diff view.. which just doesnt match yours.. let it b n rolll on.
btw Dubai Airport Free Zone, Dubai Media City, Dubai Internet City. :D arniegang
actually prices started at 480k Dhs. Emaars 2nd phase Marina was 680k but this included all appliances etc.
Alex, you are ok, rent your appartment for 2 years and the worst you could achive is break even even if there was a readjustment of prices. My concern is those twats who are buying off plan NOW and are paying the developers costs to build it, and having to borrow the money to do it.
I got no beef with Chocs, i am just sad to see people out there willing to risk money they havent actually got. Dubai has not yet experienced "negative equity".
8) arniegang
We can all make money with hindsight mate, the difficult bit is making money with "foresight".
I was in dubai in May 2002 when the Shiek announced "freehold". And that was because Marina phase 1 (marina walk) was a total flop. No one with more than 3 brain cells was ever going to invest with a 99 year lease. Alex1111 "Alex, you are ok, rent your appartment for 2 years and the worst you could achive is break even" Brought it a year ago and has shot up so would expect more than break even.However if thats the worst it gets then I'll take it. spoonman
guess I pushed the right button. Alex1111
guess no-one else wants to play spoonman dude,
2 bedroom apartment in the same place with lower price that your 1 bedroom apartment. You are asking for an unreasonable price. you are saying that this place would be smashing in two years, but your contract is for 1 year, the tenant should not give a shit. Can you rent it out with that price? Well, most likely you can. There are a lot of stupid people in this world and most of them are in high places and surely one of them with the IQ of 50 will rent your place with one cheque. but it still means that your are asking for fkng ridicules price.
and you are right. no one to play with, have to amuse myself with people like you. onetickin In business why care about reasonable. Get as much as you, even if someone else thinks it is fkng ridiculous prices. It's only unreasonable if you can't obtain it, but clearly as spoonman has stated there is some fool that will. Alex1111 You complete and total moron ! that ad is for a flatshare,not the whole f.rigging appartment ! Am I asking for a "fking ridiculous price"?,well of course I am !! Why !? Cos thats the going rate based on the dubai market so why am I going to go for less !!!!!!?????Give me strength ! Go get your girlfriend to admit when her appartment is ready,she will be asking the going rate regardless of how expensive it is !?(errr,mind you,according to my buddy on here,she'll have to go for above the rate to cover her costs.Whoops) spoonman
:lol: good one. I'm not in insulting you or saying that you shouldn't do it. read it again. I said the price is fkng ridicules and I said you can rent it out. but not becasue you are one street smart badass investor, just because some people think with their arse.
I'm not familiar with flat share concept 'cause I never did it. but isn't it when two people share a place and split the price by half (which in that case would be 3500 x2 = 7000)?
and I didn't care about your apartment in the first place. but I get a kick from your posts when you get emotional and start cursing.
chocohalic, I'm sorry he found out. didn't want the people on the forum know about us. Alex1111
Onetickin and Arnie,please tell this bonehead he did infact presume that ad was for the whole 2bed appartment.
Spoonhead, the costs of a flatshare are not divided in half when one of the persons is the owner.Even someone with a dissapearing brain like you should know that. dubaidog This should move to FC. Name calling and whatnot. So offensive to the newbies. Also, a MOD said F U C K in an open forum. Chocoholic Er Bonehead, no that's right, when one shareer is the owner, the other person nomrally pays more, which er in this case would make the total yearly rental evens less than was stated - hahahahaha didn't quite think that one through did you now. Arnie, I'm offended by your comment, who says I don't have the money? Never assume! Chocoholic Also that's exactly why the new Escrow laws have been brought in, to stop developers using investors money to build their projects, they can only release an authorised percentage. Plus I would only ever buy from the master developer, because there are so many dodgy developers here, even the big name ones. Alex1111 ---- Alex1111 ---- Alex1111 ---- Alex1111 ---- Alex1111 ---- St.Lucifer There are loads of Rich people here.. Can I get some money please. I'm in a financial mess. I've no money to eat proper food, and I've so many dependents that I've to feed. My midway home is the heaven for poor travellers.. can you rich people have some good mind and donate some money please. I'll ask god for better returns to your already invested money. Remember, the more you give the more you get... may it be swearwords n shite or money to charity. Alex1111 ---- St.Lucifer ^^^^^^^^^^ There are loads of rich people here.... I'm poor . I have loads of them dependents to feed too. Can you please donate some money to fill the stomach's of my midway home's trying travellers. I'll ask Mr.G to give you more returns on your already existing investments as return. Always remember the more you give the more you get... may it be swearwords n shit thrown at another person or money given to others in charity. St.Lucifer There are loads of rich people here.... I'm a poor guy. I have loads of them dependents to feed too. Can you please donate some money to fill the stomach's of my midway home's trying travellers. I'll ask Mr.G to give you more returns on your already existing investments as return. Always remember the more you give the more you get... may it be swearwords n shit thrown at another person or money given to others in charity. St.Lucifer
There are loads of rich people here.... I'm a poor guy. I have loads of them dependents to feed too. Can you please donate some money to fill the stomach's of my midway home's trying travellers. I'll ask Mr.G to give you more returns on your already existing investments as return. Always remember the more you give the more you get... may it be swearwords n shit thrown at another person or money given to others in charity. Alex1111 ----- Alex1111 ----- Alex1111 ---- Alex1111 Chocs another poor argument as per usual.U do not determine the price of an appartment based on the price for a flatshare.Its up to the owner to charge whatever and can vary greatly depending on the owner. Going with your theory would mean his whole 2 bed would go for the same as a 1 bed at Int.City,the worst estate in dubai. Also,this debate isnt even about are prices too high.I've already said a number of times they are so what are u on about? If a landlord can get a certain price for his unit then why should he go for less?please explain? Remember,it's in your interest for prices to remain high so as when your unit is released you can get as much for it as possible.Or would u prefer for prices to crash regards rental charges? Alex1111 ---- arniegang if you say so Chocs, didn't think being demoted was so lucrative :P Alex1111 ---- St.Lucifer Sorry for all those double triple posts.. sage & onion
Actually Chocs, their are plenty of places in the World that do rent in the same manner, I know of some places that demand 2 years up front.
I would say that 4 cheques per year is reasonable. Alex1111 Choc,awaiting your reply.Will u be renting your place under market value? Alex1111
What do u think will happen with the launches at Waterfront and Arabian Canal?By that I mean if they are still launching buildings in say,18months,2 years when it seems the market will level off,who's going to buy?Most units are brought by investors, so if u know the place your going to buy isnt going to go up,why do so?Do u think these two places could be a complete disaster with billions spent to set them up but no one willing to buy? arniegang Alex It is a known fact that a good percentage of the market is being bought up by investors. These "investors" are indeed making a very good investment in being able to "launder money" through the UAE property market. Its a cheaper option for them to buy property even if there is a downturn in the market. Other options for laundering proceeds from criminal activities carry a high cost at the outset through "other channels". I would refer you to one particular whole block in JBR that has been purchased as such :wink: Alex, if you have a free evening (not thurs/fri) just drive around the marina/JBR, then cross over the road and cruise around the Springs finishing off the evening with a drive by in Arabian Ranches. If anyone thinks occupation levels are high they must be blind. I said it in the other thread also, take a look at Gulf News and Khaleej times property suppliments and look how many properties there are. Gulf news online property sales have 10k properties listed :shock: This is a sellers market?? I think not. Alex1111 You can't tell me all of Waterfront and Arabian Canal will be a success on the back of laundered money? arniegang
I am not saying that alex, i am just pointing out a fact that contributes to the current level of hype.
As with a,ll laundering, eventually the assets will be realized ie the property and this will have a huge impact once they are "dumped off" onto the open market. ^ian^
You better get your facts right before making such allegations. What you think you know and the truth are two completely different things.
A lot less laundering goes on in this market than people think, but everyone one wants to come up with theories as to who is buying the property. Alex1111
I know of one building re-named after John Gotti.Does that give a clue? arniegang
you know for a fact which block i refer too Ian - and it is a fact. Laundering is rife in Dubai because of the lack of financial controls and checks. The property purchase system in Dubai is seriously flawed. Any developer will just accept a payment directly into their account. This is illegal in the UK.
It also the reason why there is a International Laundering convention in Dubai next month
lets play a game
Q: Which block in JBR is unoccupied ??
Q: Which block in JBR has been bought has only one owner
answers on a postcard please too
Ivan
Laundering Dept 3rd Floor Room D
Russia
:D Alex1111
God knows how much a whole block cost to buy.So why unoccuppied?waiting to sell?Does dubai care where the money really comes from? arniegang Alex dubai should care where the money comes from. Laundering is a direct result of crime/prostitution/drugs and terrorism. It was known that much of the funding from 9/11 was laundered through Dubai. Properties that have been purchased with "laundered funds" will indeed remain empty. When the asset is realised the funds dissappear to countries that have no banking codes like switzerland or the carribean or countries that have corrupt governments ie Africa. The organisations that own these properties cannot and will not allow any income from the properties to be traced via local bank accounts. Alex1111 Yes Dubai should care,but what I'm saying is are they more interested in selling properties so their morales get put to one side. I've also heard it that they pay Al Queda to keep out of Duabi.Under threat due to many europeans and americans moving in.Another case of money meaning more than doing the right thing.



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