Jellybean

Thinking of buying but know nothing about them...anyone know what they are like qualitywise, buying one, bought one etc. etc.? They are not Emaar, Nakheel I think, are they good quality?

Any info thanks

Truth Speak

A chinese consortium is now involved - be careful - also they made the same mistake that was made with the Burj - no study as to the effect of sand being carried down by the currents and deposited around the base - Green peace have predicted that this will be an island only for 5 years and then it will be a pile of rockas on a very large beach

Jeeper

I recall studying such things at Unversity (Engineering School) and although I do highways now and not beaches I recall the effects of breaking a coastline in the way that these 2 developments have done when there is a longitudinal current (almost always is) is that sand builds up on the upstream side, and gets eroded on the downstream side.

My prediction for the Palm (not so much for the burj) is that in time (nature left to it's own devices of course) that the Plam will become more the shape of the letter P when viewed from the land side and the beach to the east will be eroded away - eating into the orignal beach.

Jellybean

I'm talking about Jumeria Islands TS...no tides there LOL

Interesting stuff though about the Palm and others...quite frightening really, people are paying a fortune for those places. :scared:

Truth Speak

Aahhhhhhhhhhhh Yes it is frightening - but the people buying them can afford to lose that much cash

DubaiExpat

Jells, we have sat down and thought hard and have decided to buy one of the European design villas in Jumeirah Islands when they are finished. We spoke to the kind dears at Nakheel, all the villas are sold out so we will have to buy from the 2ndary market. We have been to look at a few already, they will be finished in May 2005 but they are coming along nicely!!! I have been told also that they are QUITE a step up in quality compared to Emaar in all aspects really, so they would definitely be better than the villa we live in now which is from Union Properties!!!
Do have a look at them, the current price for the one we want is Dhs 2.6million but we intend to buy it when it is ready as we'd simply love to look at the finished product first, by the time the price will probably reach Dhs 3million but we are prepared Did this help you dear?

TA5

And by the time the dubai property market corrects itself it will be worth about DHS 1 million

Jellybean

Yes thanks DE will be in touch for more info but gotta go for now.

joseph.creative

ohhhh so true....

DubaiExpat

but that's the beauty of it darling most expats won't pay for their houses, the company's rental allowance does so no money lost!!!

joseph.creative

sounds like very legal money laundering.

TA5

[QUOTE=dubaiexpat]but that's the beauty of it darling most expats won't pay for their houses, the company's rental allowance does so no money lost!!! QUOTE]


I'm assuming you mean use their rental allowance to pay off their mortgage, which is good and all, until

1) They lose their job and have no way to pay that mortgage

2) The value of the house drops precipitously from its purchase price (which it will, guaranteed), and said expat wants to move back to the UK, US, or wherever (or just loses their job). That expat then is saddled with dealing with the negative equity relating to their mortgage, basically, if they sell the house, they'll continue to pay off the mortgage difference between the mortgage (theirs) and the homes sale price, basically paying for nothing, and getting nothing in return.

Jellybean

[QUOTE=TA5]
I think you have things basically right here TA5 IF you are applying it to yourself and your situation...maybe. Yes eventually the bottom will fall out of the market. The opportunity to buy now and sell quick to make a profit may being going out of the window if the new laws come in.

Therefore, OUR decision to buy is partly yes because the company will be paying a large chunk but mainly just because we want to live here. We do not live in a state of 'what ifs', we have other investments. Not saying for a minute that we want to throw that kind of money away BUT we are considering taking a chance. We have made a huge chunk on a house back in the UK, so we want to chance our arm here....NOT for huge investment but for a house that we love and want to spend many years in.

As for losing the job....well like I said before I for one cannot spend my life worrying about 'what ifs'.

Palm Tree

Very nicely put JB! I am with you all the way. Life is all about taking risks with or without choice. There is a lot of negativity about properties in Dubai, especially from those who detest taking the plunge.

Having purchased from plans ourselves, I will not do so for a future permanent home which I want to feel comfortable in. Quality isn't even such a big deal, as things are really being taken care of and many new builds end up having teething problems but the worst bit is, if the floor plan will not match the final result. As in your head, you think you are getting X for your money but end up getting Y. It can make a huge difference to feeling homely, when walls are just altered and room sizes reduced. It is ok, when investing or reselling but for your own comfort, it can have a different impact. I would say, it is down to an individual what will be more important. To safe some money and take it with the suprises or play it safe and spend more. Everybody likes it different. As for prices crashing?! No chance. They will slow down as the current prices have reached a fair base price and even if the properties lack quality, they will still sell like hot cakes, as to some, they will be of a very high standard compared to other countries. A price crash, which is one of those IF's can happen any time and anywhere but there are much higher forces involved in that, then just lack of quality.

We all come from different countries with different standards and market strategies and cannot make any comparisons. Dubai is as individual as it can be and I suppose most of us are enjoying that certain mystery of the desert with its challenges.

Jellybean

ABSO BLOODY LUTELY