26.5% what the [email protected]%$ ???

Old Sep 26th 2007, 5:45 am
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Default 26.5% what the [email protected]%$ ???

http://www.arabianbusiness.com/50089...-to-soar?ln=en
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Old Sep 26th 2007, 8:02 am
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Default Re: 26.5% what the [email protected]%$ ???

Sounds about right. I have no doubt the pace of delivery of new units will be "adjusted" to prevent a crash in the property market. JBR is now being handed over but I haven't seen any sign of a crash in rents yet.
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Old Sep 26th 2007, 8:33 am
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Default Re: 26.5% what the [email protected]%$ ???

Originally Posted by Border Reiver View Post
Sounds about right. I have no doubt the pace of delivery of new units will be "adjusted" to prevent a crash in the property market. JBR is now being handed over but I haven't seen any sign of a crash in rents yet.
Well it depends on the specific type of property but on the whole JBR rents are currently EXTREMELY negotiable from their advertised rates.
My friend recently got a 40% reduction when he offered to pay in two cheques.

From my experience, the rental slump on certain apartments (especially 2-3 bedrooms) has already begun and I predict it will carry on throughout 2008 when as the article mentions more apartment blocks come online... 2009 will be even cheaper. Studio apartments will maintain their value but I think villas will drop slightly by then end of this year / early next year when people start moving onto the Palm..
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Old Sep 26th 2007, 8:38 am
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Default Re: 26.5% what the [email protected]%$ ???

Originally Posted by blokeindubai View Post
Well it depends on the specific type of property but on the whole JBR rents are currently EXTREMELY negotiable from their advertised rates.
My friend recently got a 40% reduction when he offered to pay in two cheques.

From my experience, the rental slump on certain apartments (especially 2-3 bedrooms) has already begun and I predict it will carry on throughout 2008 when as the article mentions more apartment blocks come online... 2009 will be even cheaper. Studio apartments will maintain their value but I think villas will drop slightly by then end of this year / early next year when people start moving onto the Palm..
I read thattoday in 7 days. It is complete tosh.

A former colleague rented-out a 2 BR in JBR for 150k about 3 months ago. Believe they are going at about 115k now.

There are all the JBR apartments, all the new Marina Apartments and all the Discovery Gardens apartments coming onto the market now. I guess the bank involved may have some clients who are major developers here!
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Old Sep 26th 2007, 10:20 am
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Default Re: 26.5% what the [email protected]%$ ???

Originally Posted by Inselaffen View Post
I read thattoday in 7 days. It is complete tosh.

A former colleague rented-out a 2 BR in JBR for 150k about 3 months ago. Believe they are going at about 115k now.

There are all the JBR apartments, all the new Marina Apartments and all the Discovery Gardens apartments coming onto the market now. I guess the bank involved may have some clients who are major developers here!
it does sound to me like propaganda to actually try and make it happen... you never know though it could work... its like a vicious circle... people won't buy unless they think they'll get a good ROI... but then there won't be a good ROI unless people buy...
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Old Sep 26th 2007, 8:29 pm
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Default Re: 26.5% what the [email protected]%$ ???

Originally Posted by Border Reiver View Post
JBR is now being handed over but I haven't seen any sign of a crash in rents yet.
Then you're not looking very hard, BR

3-beds are down from 175k to 135k, and as Inselaffan points out 2-beds are down from about 150k to 115-110k (they were 125k just over a month ago). Ask rental agents here and they say they expect them to drop further as more units are released.

Some new colleagues who've just arrived from the UK and are looking for places to live are finding a large selection of apartments and a willingness for landlords to accept offers below the stated rental price. JBR seems to be affecting prices in the Marina too; a friend was looking at a fully-furnished 1-bed in the Marina that was up for 95k, so she offered 90k and the landlord accepted immediately.

Then before she signed up for it she saw, in her words, an "enormous" 1-bed in JBR for 100k and decided that even though it was unfurnished, she liked it more; she offered 90k and the landlord compromised on 95k. Then when she called the landlord of the Marina place to say she didn't want it after all, he offered 85k!

The days when you'd be laughed at for having the temerity to make an offer rather than just pay the initial asking price seem to be well and truly over.
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Old Sep 27th 2007, 12:04 pm
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Default Re: 26.5% what the [email protected]%$ ???

Originally Posted by GarethR View Post
The days when you'd be laughed at for having the temerity to make an offer rather than just pay the initial asking price seem to be well and truly over.
way to go.........

My husband thinks that the proposed "long term rental contracts" for 3 years, purportedly to clamp down on indicriminate increases in rents are now actually a ploy to help landlords lock into their high rents So we aren't going to be fooled into signing any "long term" rent contracts!
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Old Sep 27th 2007, 12:07 pm
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Default Re: 26.5% what the [email protected]%$ ???

Originally Posted by IndieGirl View Post
way to go.........

My husband thinks that the proposed "long term rental contracts" for 3 years, purportedly to clamp down on indicriminate increases in rents are now actually a ploy to help landlords lock into their high rents So we aren't going to be fooled into signing any "long term" rent contracts!
Will that contagious disease of lower rents affect Sharjah btw???
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Old Sep 27th 2007, 12:53 pm
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Default Re: 26.5% what the [email protected]%$ ???

Originally Posted by Confucius View Post
Will that contagious disease of lower rents affect Sharjah btw???
Think it would eventually, my guess is that rents in the upmarket apartment segment (e.g. JBR, Marina etc) will come down first (especially in the new Dubai areas), before affecting other segments of the market.
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Old Sep 27th 2007, 5:49 pm
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Default Re: 26.5% what the [email protected]%$ ???

Originally Posted by IndieGirl View Post
Think it would eventually, my guess is that rents in the upmarket apartment segment (e.g. JBR, Marina etc) will come down first (especially in the new Dubai areas), before affecting other segments of the market.
Lovely news...With the amount I'll be saving,I might as well buy a newer car...With central AC and electric windows...
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