So, what's changed in Dubai in the last decade?

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  • Re: So, what's changed in Dubai in the last decade?
    Quote: That's per year, yes? Quite pricey. I paid 120k for my 3-bed Springs villa.
    Yes. Same apartment unserviced on a monthly basis is probably 70k plus utilities?

    Rents aren't too bad these days compared to 2007-2008. Still have a year's lease but with apartments can usually pay in 3-4 cheques.

    If you want serviced properties I don't think you'd find anything less than 7k a month and that's deep in Al Nahda/Al Ghusais.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: Yes. Same apartment unserviced on a monthly basis is probably 70k plus utilities?

    Rents aren't too bad these days compared to 2007-2008. Still have a year's lease but with apartments can usually pay in 3-4 cheques.

    If you want serviced properties I don't think you'd find anything less than 7k a month and that's deep in Al Nahda/Al Ghusais.

    Fair enough, I wasn't factoring in utilities and so on.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: Fair enough, I wasn't factoring in utilities and so on.
    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.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: That's per year, yes? Quite pricey. I paid 120k for my 3-bed Springs villa.
    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.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: 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.
    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.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: 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.
    I always thought hotel apartments were much more expensive but may well be wrong. Never really looked.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: I always thought hotel apartments were much more expensive but may well be wrong. Never really looked.
    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.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: 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.

    That looks alright, actually. Just had a shufty myself. Pool and gym in the complex. Food for thought. Thanks!
  • Re: So, what's changed in Dubai in the last decade?
    Quote: I'm looking forward to maybe meeting the great man himself!
    there is greatness allright....of girth and facial hair

    Quote: Serious question for anyone willing to answer, though...is it relatively easy to rent a furnished 1-bed flat/studio in Dubai and pay for it on a monthly basis? Last time I was with family and rented a villa, and had to do all that 2-cheque nonsense.
    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
  • Re: So, what's changed in Dubai in the last decade?
    Quote: 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
    As in Discovery Gardens near Ibn Battuta? That's a significant saving. I might give that a think and drop you a PM. Thanks.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: 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.
    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.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: 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.
    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.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: 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.
    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.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: 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.
    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.

    Quote: 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.
    Yeah, for sure. Lots have add-ons too don't they? Room Service, Laundry etc etc. Bet they make good cash money there.
  • Re: So, what's changed in Dubai in the last decade?
    Quote: Yeah, for sure. Lots have add-ons too don't they? Room Service, Laundry etc etc. Bet they make good cash money there.
    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.