liverpoolsno9

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

Jim Smith

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

liverpoolsno9

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

Millhouse

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.