Your Personal Property Investments & The UAE Real Estate Market
actually there have been so many threads about specific questions on specific properties like towers.
in my opinion it has become too much and a lot of double threads have been created.
this is why i go for a new sticky thread in which everybody is welcomed to ask our members about their views on specific property, private investment ambitions and the property market in general.
in my opinion it has become too much and a lot of double threads have been created.
this is why i go for a new sticky thread in which everybody is welcomed to ask our members about their views on specific property, private investment ambitions and the property market in general.
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Thanks for clarifying this, I was wondering why so many units in Panorama are being offered at below the average price per square foot in the Views. I thought it was because the sizes of the units is small (2 bed size 1,250 sq.ft.) or perhaps because the location is in the corner and few units actually have a proper golf course view. I can't comment on the quality of finishing because i havent seen it.
Although as an owner/Landlord in the Links, I am concerned that Panorama rents may drag down the RERA rental index.
Although as an owner/Landlord in the Links, I am concerned that Panorama rents may drag down the RERA rental index.
Hi Sanjay,
I'm in the market for a 8-9% net rental yield. Would appreciate some pointers on which buildings/developments to look at. You can PM me if you prefer
Regards,
The Pimp
I'm in the market for a 8-9% net rental yield. Would appreciate some pointers on which buildings/developments to look at. You can PM me if you prefer
Regards,
The Pimp
Well said Sangay, but by that rationale, the palm doesn't have any lower end studios.
Palm views studios for example are offered for around 1.3m and renting for 85k gross?
Palm views studios for example are offered for around 1.3m and renting for 85k gross?
Sorry i don't understand what you are saying.
Yes now that's interesting.
I do own a 2 bed in JBR bought a few years ago making 9.5% net today so i wanted to expand my portfolio. Just thought i would bounce some ideas on here.
I do own a 2 bed in JBR bought a few years ago making 9.5% net today so i wanted to expand my portfolio. Just thought i would bounce some ideas on here.
You are referring to MiNC property. The actual owner of the project is Sheffield real estate, they have another building underway at the mina siyahi end of marina.
They didn't ask you for installments because none of the original buyers are acknowledged by them as buyers. Probably resold or being privately funded by the owner.
They didn't ask you for installments because none of the original buyers are acknowledged by them as buyers. Probably resold or being privately funded by the owner.
All of MiNCs developments are under offshore special purpose vehicles made to protect the parent company. As far as i know, MiNC did not own the plot, otherwise they wouldn't walk away from that much equity. The problem is your purchase agreement is with waterfront development which was dissolved a long time ago along with MiNC so if you do approach Sheffield real estate, they will probably shrug it off.
Big name developers offering finance in the form of payment plans, transfer fee waivers, free service charge periods, clone master developments and 5% to 10% commission to an army of brokers. How can any secondary market seller compete with that? Brokers won't even talk to you if your not selling "below market".. Meanwhile your yield is being eroded by falling rents and high service charges. And Ofcourse Holiday homes is the latest buzzword.
The off-plan wheel is still spinning with the Lions share of transactions. Could be they are consolidating the construction pipeline before starting again a fresh batch of new master developments for 2030.
What percentage are the service charges eating from your rental yield?
Add to the new supply that holiday homes are being restricted from operating (signing a waiver to get permits) which adds more pressure on long term rental contracts.
Add to the new supply that holiday homes are being restricted from operating (signing a waiver to get permits) which adds more pressure on long term rental contracts.
And of course there is this:
https://www.google.com/amp/s/gulfne...irms-leave-homeowners-in-the-lurch-1.68555662
https://www.google.com/amp/s/gulfne...irms-leave-homeowners-in-the-lurch-1.68555662
It's all priced in.. and the amount is so small compared to the purchase price, it's hardly noticed. So 15k per annum is 45k for 3 years. Add that to a purchase price of say 1 million it's nothing.
But how can they hold you liable for this debt? If you ignore them and don't pay up.. will they impose a travel ban or something?
Are the 2 units with select? In that case they will probably hold your NOC to sell for ransom until you pay. Personally, I wouldnt pay until I have to sell.
I read in today's news that they are close to selling their district cooling business. So much for long term.
-30% seems to be the magic number for sales and rentals. At least there aren't many new developments within JLT and immediate surroundings. It's worse in the likes of Dubailand and JVC were buildings are just popping up. Tenants are migrating to newer and bigger space.
If the whole building license was converted from hotel apartment to residential then by default they cannot run your individual unit as a hotel apartment and charge tax. It's actually a good thing because as a hotel you will go into a rental pool and they will take 40% of the rent and you have to pay high maintenance charges + management fees and tax. Plus resale is difficult because end users cannot buy. You're better off with residential.
Is that the Seven tides project? I'm still receiving emails from broker's promoting it, received one today in fact. Why are broker's trying to sell it if it's cancelled.
What is the completion date in your SPA? They usually have 12 months extra on top of that date without penalties on either side.
Cancellation will take a very long time. I worked for a developer in '06-'08 with several buildings in JVC cancelled. Until today few buyer's are still fighting for their money, others gave up. There was no escrow account at that time.
Cancellation will take a very long time. I worked for a developer in '06-'08 with several buildings in JVC cancelled. Until today few buyer's are still fighting for their money, others gave up. There was no escrow account at that time.
That 35% obviously has their profit mark up built in. I renewed for my tenant in JBR in April for 10% off and another property in March for 8% off.
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