#COMPLETED: THE OLDTOWN (DBD)

[rexdmx]

old town is getting to be a favourite for tenants...
one bedrooms rents around 115k
two bedrooms around 140k

you can't find any nowadays...
i love the ancient feel to it

[IISinbadII]

Originally Posted by rexdmx

old town is getting to be a favourite for tenants...
one bedrooms rents around 115k
two bedrooms around 140k

you can't find any nowadays...
i love the ancient feel to it

All this when Burj area is still a construction site....... Imagine what it will be when Burj is complete, the Mall is open and Metro running.

[rexdmx]

shudder

i know what you mean mate. i am supposed to go this afternoon but i postponed it. i am going to an acquaintance townhouse in green community
instead...

still the old town island would be more prestigious...
what do u think sinbad??

Originally Posted by IISinbadII

All this when Burj area is still a construction site....... Imagine what it will be when Burj is complete, the Mall is open and Metro running.

[IISinbadII]

Originally Posted by rexdmx

shudder

i know what you mean mate. i am supposed to go this afternoon but i postponed it. i am going to an acquaintance townhouse in green community
instead...

still the old town island would be more prestigious...
what do u think sinbad??

Try to visit Old Town just after Sunset. The area near Al-Manzil Hotel when the lights are turned on.

The whole Burj Dubai complex would be prestigious, but I agree, old town island would be more prestigious.

[rexdmx]

which quarter do you like most on the old town
the top left unit in zaafaran would have the view of the burj park but the yansoon should have the mall and the lake hotel.

what is your take on the short term rentals now in old town...

Originally Posted by IISinbadII

Try to visit Old Town just after Sunset. The area near Al-Manzil Hotel when the lights are turned on.

The whole Burj Dubai complex would be prestigious, but I agree, old town island would be more prestigious.

[IISinbadII]

Originally Posted by rexdmx

which quarter do you like most on the old town
the top left unit in zaafaran would have the view of the burj park but the yansoon should have the mall and the lake hotel.

what is your take on the short term rentals now in old town...

Halfway from Yansoon, going thru Reehan, Zaafaran to some parts of Miska is what I like, i.e. Those that have some view of the Burj.

What I dont like are parts that will fall behind the Mall, Lake Hotel and the Residences towers.

I think short term rentals should be very good in Old Town. There are already two hotels al-Manzil and Qamardeen running in Old Town and the project is in Downtown/Business Area Dubai.

[rexdmx]

[IISinbadII]

I wonder how much 1 br in Old Town selling for nowadays?

[rexdmx]

it depends on some sellers to be honest
but the prices for a one bedroom is moving from 1.6million towards 1.7million for the one bedroom plus study..

the climb has just begun considering that the average premium is 39-45%

God have mercy on us

Originally Posted by IISinbadII

I wonder how much 1 br in Old Town selling for nowadays?

[rexdmx]

it depends on some sellers to be honest
but the prices for a one bedroom is hovering around 1.6million and 1.7million for the one bedroom plus study..

people are snapping it up and leasing it out. this should be a long term investment in my view...

the climb has just begun considering that the average premium is 39-45%

God have mercy on us

Originally Posted by IISinbadII

I wonder how much 1 br in Old Town selling for nowadays?

[IISinbadII]

Originally Posted by rexdmx

it depends on some sellers to be honest
but the prices for a one bedroom is hovering around 1.6million and 1.7million for the one bedroom plus study..

people are snapping it up and leasing it out. this should be a long term investment in my view...

the climb has just begun considering that the average premium is 39-45%

God have mercy on us

Did I hear it right:

1 BR (without study) in Old Town (not Old Town Island and without Burj View or private garden) for AED 1.6 M.

Are these re-sale market prices or the left over special edition signature collection units directly from Emaar?

Any reason for this recent climb?

[rexdmx]

man i love your shock... made my day;
didn't you know??
the 1.6mil should have a large garden and a good view mate. you can still find very few for 1,55mil but it is gearing upwards toward the 1.6mil as i specified earlier..because they are ready. the ones that are not ready can be from 1.5-1.55(reehan 07 dec)

actually i expected the climb since last year. surprised it took this long. burj area was quite slow as places like the palm was coming up. it took a lot of guts to hold on to the apartment when some sold theirs for pitiful premiums. but now that the properties are coming on to full swing, i do expect a continous increase in prices in the short term before stabilizing for a while.

i suppose most people are just going with the crowd...although buy and hold is still the best strategy...considering that burj area is the best location in dubai..it is close to the old dubai where all trade happens for less price


however you are right about an emaar release!!!!

check this out;
quote
EMAAR & DAMAC LAUNCH

EMAAR (12th May-Saturday)

We would like to inform you that EMAAR will be releasing special collection of the units of the existing projects at:

1) Burj Views,

2) South Ridge,

3) Residences II,

4) Burj Dubai Tower,

5) Lake Hotel,

6) Mall Hotel,

7) Al Saaha offices

8) Alma villas @ Arabian Ranches.



Almost all units should be BURJ facing. Do not miss this GOLDEN OPPORTUNITY to buy for yourself as well as very Investment. Also other existing inventory will also be available for sale DIRECT FROM EMAAR



The event will take place at Downtown Living Sales Center on May 12, 2007. The sale will start at 9 a.m. and will be on first-come-first serve basis, there would be no draw, no waiting but in-order to save time on the launch date we need your passport copy with contact numbers to register you for this fantastic opportunity.



There would be financing offered by Amlak, Emirates Islamic Bank and Dubai Islamic Bank.

unquote

those ones would even be more expensive i think. remember the release last few months of some apartments by emaar? those were even above the market price but for some funny reason they all sold out

Originally Posted by IISinbadII

Did I hear it right:

1 BR (without study) in Old Town (not Old Town Island and without Burj View or private garden) for AED 1.6 M.

Are these re-sale market prices or the left over special edition signature collection units directly from Emaar?

So any reason for this recent climb?

[IISinbadII]

Originally Posted by rexdmx

man i love your shock... made my day;
didn't you know??
the 1.6mil should have a large garden and a good view mate. you can still find very few for 1,55mil but it is gearing upwards toward the 1.6mil as i specified earlier..because they are ready. the ones that are not ready can be from 1.5-1.55(reehan 07 dec)

actually i expected the climb since last year. surprised it took this long. burj area was quite slow as places like the palm was coming up. it took a lot of guts to hold on to the apartment when some sold theirs for pitiful premiums. but now that the properties are coming on to full swing, i do expect a continous increase in prices in the short term before stabilizing for a while.

i suppose most people are just going with the crowd...although buy and hold is still the best strategy...considering that burj area is the best location in dubai..it is close to the old dubai where all trade happens for less price

I agree with you. Once Burj is complete and Mall is open I expect these apts to sell for 2 M plus.

Anyway, what are the prices for regular 1 BR in Yansoon, Reehan or other quarters (without special view or private garden).

however you are right about an emaar release!!!!

I am right because I got an invitation too. Note that they are not offering anything in Old Town. I think its sold out.

those ones would even be more expensive i think. remember the release last few months of some apartments by emaar? those were even above the market price but for some funny reason they all sold out

My understanding is that they had larger areas or good (Burj) views. Also I can understand why some people prefer to buy directly from Emaar.

[rexdmx]

right as usual
well for a one bedroom normally, you could get around 1.5mil or a little less...

Originally Posted by IISinbadII

I agree with you. Once Burj is complete and Mall is open I expect these apts to sell for 2 M plus.

Anyway, what are the prices for regular 1 BR in Yansoon, Reehan or other quarters (without special view or private garden).



I am right because I got an invitation too. Note that they are not offering anything in Old Town. I think its sold out.



My understanding is that they had larger areas or good (Burj) views. Also I can understand why some people prefer to buy directly from Emaar.

[Dubai_Steve]

Interesting conversation, so you think it is still possible to make AED 500,000 or over 30% premium in quite a short time with a 1 bed in old town.

[IISinbadII]

Location, Location, Location........ Even in a downturn, it is possible that prices dont drop or even appreciate. Burj Dubai area is unique. Its in downtown, on SZR, on Metro line, is a tourist attraction (Burj), shoppers hangout (Dubai Mall), kid's hangout (aquarium), ice skating ring (think of Rockefeller center on 5th Ave, NY). Worlds largest gold souk and we know how much Arab and Indian women love gold. The Boulevard will be something like Champs-Elysées in Paris.

Think about it, all those visitors coming to Dubai.....will they not come to visit Burj Dubai......where will they stay, eat and shop.

All these buildings next door on SZR, Business Bay and all. Where would these people like to live?

Unlike Business Bay at least part of Burj complex is already built. Also the area is limited..........

[Adrian Smith fan]

[rexdmx]

steve, i dont know if you can make 500k over a short while but you will make
a lot. the kick is to hold on to it.
if the burj dubai and the mall gets ready, i am looking at a greater than 30%
but you got to buy a good unit...
you can PM me or sinbad

Originally Posted by Dubai_Steve

Interesting conversation, so you think it is still possible to make AED 500,000 or over 30% premium in quite a short time with a 1 bed in old town.

[Imre]

14/May/2007

The Oldtown Island

[Imre]

this is amazing

14/May/2007

The Oldtown Island