littlejimmy

Fair enough, I wasn't factoring in utilities and so on.

scrubbedexpat141

Utilities for our one-bed:

DEWA 618 (usage + housing fee)
Empower 500 (averaged)
Du 570
TV Box (divided equally) 250
= 1,938
= 23,256

So 70k+Uts = 93,256

100k for serviced is probably about right then.

Millhouse

yeh, I felt he was screwed -it was a dingy place too. Personally, I wouldn't do a serviced apartment.

3-bed in the springs yet is probably 150k these days.

DXBtoDOH

TECOM isn't district cooling so subtract 500 a month from the bill. 1500 per month for the operating expenses on a 1-bedder in Tecom/Greens seems decent enough.

Must say it looks like the serviced hotel apartments aren't making any profit if you assume comparable 1-bedrooms rent for an average of 80k in TECOM or the Greens low rises. Then I realised the 100k is likely a studio similar to a hotel bedroom, not a proper 1-bedroom? Did Millhouse make a mistake? I bet the 1-bedrooms go for closer to 10k a month.

Edit: just checked propertyfinder.ae and there are serviced 1-bedrooms advertised in TECOM for 100k, all at Grand Belle Vue Hotel Apartments. Basic one bedrooms are going for 60-70k in same area. That does change the numbers a bit. Rents are certainly falling.

scrubbedexpat141

I always thought hotel apartments were much more expensive but may well be wrong. Never really looked.

DXBtoDOH

They are. At least they should be. Which is why the TECOM serviced apartments look to be great deals as they also have housekeeping and change of linen thrown in. And are furnished too (crappy furniture but saves you some hassles). It's only marginally more than having your own apartment in a comparable building + all operating expenses + maid service.

I know back in 2014 you were lucky to find a serviced apartment for less than 8500/month and that was in deepest Al Nahda or shittiest Bur Dubai.

littlejimmy

That looks alright, actually. Just had a shufty myself. Pool and gym in the complex. Food for thought. Thanks!

Irishbeekeeper

there is greatness allright....of girth and facial hair

A fully furnished all utilities paid studio in Disco is between 4200 and 4500 a month, give me a shout if you need one

prices have gone way way down
It has come down to 6500 a month for Marina
My guess is in the next 5 months prices will come down further

littlejimmy

As in Discovery Gardens near Ibn Battuta? That's a significant saving. I might give that a think and drop you a PM. Thanks.

scrubbedexpat141

Yeah, their margins must be tight now. But if they own the linen firm and the maids and the etc then they're just washing money around and spreading a bit of profit through their various pockets.

Sigh.

DXBtoDOH

True.

From the consumer perspective it looks like there's some really great deals in serviced apartments these days. You won't get a building as nice as as a privately rented apartment for the same price, but you save a lot of headache, registration with dewa/DU, maid service, furnishings and linens. Definitely something to consider for someone only in the UAE for a year or two.

jam25mack

I'd bet economies of scale help too. If you have say 50 apartments in a building paying the utilities all together under a single bill will be a shed load cheaper than paying them individually. For a serviced apartment they won't pay anywhere near what a private renter would.

scrubbedexpat141

Definitely. If you're here for a fixed contract and won't stay it's hugely sensible. If you're here and enjoy it and will stay then private renting is worth it to have your own 'home'. That's what we've done anyway, it's definitely more settling.

Yeah, for sure. Lots have add-ons too don't they? Room Service, Laundry etc etc. Bet they make good cash money there.

jam25mack

Yup. And they vary their rates with the seasons too if on a rolling contract. One of my mate was in one in Barsha and I think they were paying around 8K until the summer months ended and then they ramped it way up to something like 12k.

DXBtoDOH

You can always sign a year's contract with flat monthly rates. The serviced apartments on propertyfinder.ae are quoted for the year.