Re: The property apocalypse draws closer...
 

Oh - it's 4:15 already?!?! Looks like I missed the market then....:(

Re: The property apocalypse draws closer...
 

There's always a 4:15 the following day - am and pm actually:thumbup:

Re: The property apocalypse draws closer...
 

Tumbling rental prices at JBR at the moment... but you have to be ready to deal with the possibility that the lifts will be buggered and so you'll have to walk up 20 flights to your apartment.

Re: The property apocalypse draws closer...
 

But its only certain owners willing to take the reductions.. some have said that they are holding to their 190,000 3 bed prices.. and will keep them empty until they get it.

Re: The property apocalypse draws closer...
 

They'll be the wealthy ones who don't actually *need* to rent their places out to cover their mortgage repayments (assuming they have mortgages in the first place and didn't just buy outright). They are very much in the minority of landlords, and they're probably stuck in the fantasy version of Dubai where rental and property prices can only keep rising. Before too long, they'll wake up to reality :thumbup:

Re: The property apocalypse draws closer...
 

well.. I've come across a lot of them..

Re: The property apocalypse draws closer...
 

And how many apartments are there in total at JBR?

Lots and lots and lots...

If you come across one of the deluded landlords, just move on and you'll soon find one who lives in the real world.

Re: The property apocalypse draws closer...
 

Quite a few.. and most potential tenants know they have a wide choice

Re: The property apocalypse draws closer...
 

on another site there is a girl who has been offered a 3 bed in JBR for 135k, that is cheap!

Re: The property apocalypse draws closer...
 

Indeed cheap....

Any idea what happened to short term lets? That was big blow to investors who were hoping to rake in lots and then when it came to the crunch were told they can't do it:frown:. Lot of mis-selling there....

Re: The property apocalypse draws closer...
 

So how freehold are they really???

Jeez - and in today's papers:

Freehold homeowners will have to take Land Department's permission before renting out premises from next year, a senior government official said.

Dubai's huge rental market will be tightened up under regulations being considered by Dubai Land Department, Gulf News has learnt. Under the planned initiative, homeowners wanting to lease out a property will first have to apply for a permit from the Land Department.

They will then have to officially register any subsequent rental contract that they draw up with a tenant. At that point the Land Department may impose restrictions on the terms of a lease, such as the number of tenants allowed per unit and who can occupy a unit.


http://www.gulfnews.com/business/Rea.../10150446.html

Re: The property apocalypse draws closer...
 

Its not a bad thing..

Re: The property apocalypse draws closer...
 

Supposedly the clause banning short-term lets always existed in the small print of the sales contracts - it just wasn't explicitly pointed out and was left for buyers to find by themselves.

Re: The property apocalypse draws closer...
 

I'm sure somebody mentioned this on here a few weeks ago... ;)

Although I was told that the law already existed and just wasn't being enforced yet.

Re: The property apocalypse draws closer...
 

somebody said that a comercial licence was required to lease out a property