Re: The property apocalypse draws closer...
 

Very nice. Must be a bugger to get back to the flat when the lifts aren't working, though ;)

Oh, and BTW diablo, remember that little discussion we had some months ago? When I said that there were thousands of unsold units still available at JBR and you insisted that there weren't? How did you feel a little while later when Dubai Properties suddenly announced thousands of units available at JBR with 1% downpayment? :p

No idea if it's a bargain or not for a 4-bed. All I know is that prices on 3-beds have tumbled and are set to plummet still further :thumbup:

Re: The property apocalypse draws closer...
 

I do hope so!! they should be nice and low by november!!

Re: The property apocalypse draws closer...
 

Surely what matters is whether Diablo is making a profit at 200K. If the prices tumble but landlords can still make money then there is no problem. If prices tumble to the extent that landlords can't make money things will get interesting. Nobody will be making money renting out a property with a 99% mortgage though and I suspect some landlords will have overstretched themselves.

As ever, I suspect the better situated apartments with a nice sea view (and a working lift;)) will be much easier to rent out than the ones on the ground floor looking at the road and in the shadow of the block next door.

Re: The property apocalypse draws closer...
 

Which make are they? Any idea what the problem is:confused:

Re: The property apocalypse draws closer...
 

No idea, I have only heard second hand that the lifts are one of the snagging issues. Wouldn't be the first time property has been handed over without all the infrastructure working properly.

Re: The property apocalypse draws closer...
 

he said, she said ...
We had a few problems - but I think there is a bit of exaggeration (at least in my building Sadaf 5). The longest I waited was 3-5 minutes once or twice. Other than that - 30-60 seconds max. I really don't know of walking up to 30-something floor so far.
How I felt? Well I went and checked the prices - 4-bed sea view starting price 3.8 million :ohmy:. So there might be few of them - but I was looking to buy not to count them and if you remember I said - give me just one for a price less than what I had at the time and I'd buy; not thousands - just one.
Neither do I but I am happy as a landlord. It is aparently 4 guys sharing 4 bed + maids room. It comes to K50 per person per year and that's a good deal for them; you can't find a studio for that money - and a good deal for me :)
Let's wait and see; a 3-bed in Greens was +K150 a few months back. Don't tell me that those two communities are comparable. These commissioning problems will go away (we got the phone lines, internet, TV, levators are better etc.) and the prices are more likely to go up than down. We'll see. And yes, you remeber the traffic issue; so far so good. Ye, I've tried to go Greens :eek: then tried to take first left before Mall of Emirates :eek: then tried to take that road through Al Barsha :eek: :eek:

Re: The property apocalypse draws closer...
 

I think they are Hitachi. I am not sure if it is about the the elevators (hardware) or the maintenance crew(s)!?

Re: The property apocalypse draws closer...
 

I do remember what you said. And what you said was that there were no unsold units left in JBR and it was only possible to buy there on the secondary market. You basically said I was talking rubbish about there being unsold apartments at JBR... and whaddaya know? A little while later, a veritable flood of unsold apartments at JBR hit the market :thumbup:

Why? In how many other markets does a massive increase in supply equate to an increase in price?

Well obviously it's so far so good - JBR is still mostly empty at the moment!

Re: The property apocalypse draws closer...
 

Spain seems to be a case in point viz a viz over-supply...

http://news.bbc.co.uk/2/hi/business/6592203.stm

Re: The property apocalypse draws closer...
 

Just curious, do these units have fire sprinkler systems (not just a fire extinguisher hanging in the kitchen like I've seen in some buildings)? Not sure if I would want to be that high up without one.

Re: The property apocalypse draws closer...
 

Any horror stories/advice about Palm Jumeirah truck buildings -eg Shoreline and Oceana appartments - which are being handed over about now?
I am considering them. Is the price very firm here? thanks

Re: The property apocalypse draws closer...
 

There is a chat site which can be found on Google for International City
( presume this is "Global Village" - as shown on maps?). It has a thread with many complaints about stink. Does that smell also affect Arabian Ranches - which is next door ??.

Re: The property apocalypse draws closer...
 

don't know about the stink, but the roaring of engines can be a problem on AR!

Re: The property apocalypse draws closer...
 

Yes I have come across two Shoreline apartments handed over and within a few weeks have been flooded by burst pipes (defective workmanship) for which Nakheel are refusing to admit liability. Fortnuately, the occupants had contents insurance to cover most of the damage.

Re: The property apocalypse draws closer...
 

My understanding is that Global Village and Interational City are several miles apart.