Go Back  British Expats > Living & Moving Abroad > Middle East
Reload this Page >

car park space with apartment

car park space with apartment

Old Aug 25th 2009, 8:58 pm
  #1  
Just Joined
Thread Starter
 
Joined: Aug 2009
Posts: 2
liverpoolsno9 is an unknown quantity at this point
Question car park space with apartment

I have nearly completed the purchase of an apartment in Lake View, Jumeira Lake Towers(and what a nightmare it has been) .Damac are now trying to flog me a car park space . Before parting with any more money i just wanted to know if it is easier to rent an apartment with a car park space or especially with the metro system coming into operation a space wont realy matter

thanks
liverpoolsno9 is offline  
Old Aug 26th 2009, 3:01 am
  #2  
BE Forum Addict
 
Joined: Aug 2008
Location: Far from home!
Posts: 1,024
Jim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to beholdJim Smith is a splendid one to behold
Default Re: car park space with apartment

Originally Posted by liverpoolsno9 View Post
I have nearly completed the purchase of an apartment in Lake View, Jumeira Lake Towers(and what a nightmare it has been) .Damac are now trying to flog me a car park space . Before parting with any more money i just wanted to know if it is easier to rent an apartment with a car park space or especially with the metro system coming into operation a space wont realy matter

thanks
1. Damac..................OMG!!

2. Surely every apartment comes with at least one parking space. I understand, but dont quote me the Municipality regs state for an apartment with area greater than 1600 Sq ft it must have two!!

3. Unless you don't drive, surely you need a parking space, and it's resale value will be afftected if none attached to property.

4. Don't just think it's ok, "I will park outside somewhere". Dxb Police love coming around late at night and giving tickets to those not in appointed parking slots!

5. Good luck
Jim Smith is offline  
Old Aug 26th 2009, 11:36 am
  #3  
Just Joined
Thread Starter
 
Joined: Aug 2009
Posts: 2
liverpoolsno9 is an unknown quantity at this point
Default Re: car park space with apartment

thank you very much ,its only a studio but they wanted too much money for car park space originally now i think they are desparate to sell them
liverpoolsno9 is offline  
Old Aug 26th 2009, 2:18 pm
  #4  
Millhouse is not a meme
 
Millhouse's Avatar
 
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,764
Millhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond reputeMillhouse has a reputation beyond repute
Default Re: car park space with apartment

Originally Posted by liverpoolsno9 View Post
thank you very much ,its only a studio but they wanted too much money for car park space originally now i think they are desparate to sell them
In all fairness depending on where you have invested, and how much you have already put into it, you might be better off cutting your losses. With or without a parking space the chances of renting it out a level that gives a return (after further depreciation and increasing maintenance costs are factored in) is almost nil at the moment.

Of course, you could be 'in it for the long term mate'... problem is how long is the long term especially when the asset in question will be unusable in 15 years due to lack of maintenance and the harsh environment.

Last edited by Millhouse; Aug 26th 2009 at 2:24 pm. Reason: some bits needed editing
Millhouse is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.