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-   -   Villa for sale (https://britishexpats.com/forum/middle-east-60/villa-sale-301449/)

Adashoe May 7th 2005 2:53 pm

Villa for sale
 
For those who are interested:

Mirador Type 17 villa. 5 bedrooms.
The Total Area is: 4,559 sq feet
The Plot Number is: 8, overlooking a park.
The original price was 2,414,888 Dhs.
The asking price is: 2,780,000 Dhs. which is 15% premium
The first instalment has been paid, the next one which is 15% is
supposed to be paid 30 May, and the next one every 6 month.
The last 25% to be paid 30 August 2006 and the house is expected to be
completed at that time.

This is an unique opportunity to purchase a beautiful house very close
to the golf course and equestrian centre. Emaar has launched another development "Mirador La Coleccion" but the houses are much more expensive, very slightly different, and will be finished much later. I am the owner of the house and the reason I am selling is that my son for whom I have bought it has decided to move permanently to the States.
The house has been bought in the name of an offshore company, which means that you don't need to pay the additional 5% transfer fee.
If there are any other questions please do not hesitate to contact me.
My tel is 050 - 6432033 or [email protected]

Regards,

Dr. Gertrud Koster

Adashoe May 9th 2005 11:24 am

Re: Villa for sale
 
Sorry everyone. That's the old mobile phone number. The new one is:

+ 971 505 524485

Thanks

Eeyore May 10th 2005 7:14 am

Re: Villa for sale
 
Is there anyone here who can afford to spend near enough half a million pounds on a villa?

If so - lend us a quid... ;)

TA5 May 10th 2005 7:32 am

Re: Villa for sale
 
sure, and there are thousands of villas being dumped for 'zero premium' as well, save your money, soon they will be 'discounted' instead of 'premium'

W10 May 10th 2005 7:39 am

Re: Villa for sale
 

Originally Posted by GarethR
Is there anyone here who can afford to spend near enough half a million pounds on a villa?

If so - lend us a quid... ;)


I can lend you a quid. You just need to find the extra 390,000.

IndieG May 10th 2005 7:45 am

Re: Villa for sale
 

Originally Posted by TA5
sure, and there are thousands of villas being dumped for 'zero premium' as well, save your money, soon they will be 'discounted' instead of 'premium'


Hi TA5,
Do you have any information on the villas dumped at 0 premium - from what I read in the newspaer adverts, all of them are advertised at a premium? I know that the Burj Residences are going at 0 premium.
I also read (in the newspapers) that there is a huge problem with mosquitoes and insects in the Springs? Apparently the 'lake' has turned brown and murky. Would anyone actually living there have any more information? Thanks!

IndieGirl

Border Reiver May 10th 2005 8:01 am

Re: Villa for sale
 
There is an insect problem at the Springs which Emaar are (apparently) working on by installing fountains and pumps to keep the water circulating a bit. Apparently it didn't occur to them that stagnant water might attract mozzies and so on :rolleyes:

"Thousands of villas being dumped at 0% premium"? Where? Give us some examples, there are people here who might want to buy one. I haven't seen any villas going at zero premium yet, but that is not to say it won't happen in the future. The days of being able to buy anything in Dubai and make a certain 30% profit in 12 months are over for good but the right property in the right location (and bought at the right price) will still work out a reasonable medium to long term investment.

TA5 May 10th 2005 8:14 am

Re: Villa for sale
 

Originally Posted by Border Reiver
There is an insect problem at the Springs which Emaar are (apparently) working on by installing fountains and pumps to keep the water circulating a bit. Apparently it didn't occur to them that stagnant water might attract mozzies and so on :rolleyes:

"Thousands of villas being dumped at 0% premium"? Where? Give us some examples, there are people here who might want to buy one. I haven't seen any villas going at zero premium yet, but that is not to say it won't happen in the future. The days of being able to buy anything in Dubai and make a certain 30% profit in 12 months are over for good but the right property in the right location (and bought at the right price) will still work out a reasonble medium to long term investment.

The days of speculative investors buying a unit from a developer and flipping it for a 15% premium are done. Just read the 'property' sections of the papers at how much is for sale and you'll see why. Investors thinking they were getting some 'limited supply' commodity are realizing now that they are a dime a dozen holding properties with a replacement value of 25% what they paid, and are trying to get premiums on resales when now it is relatively easy for a person to buy direct from developers as the speculative investors have pretty much finished their capacity to buy up units. Prices at the marina for rental will drop soon guaranteed, seeing that Al Seef tower and the 2 new Emaar towers just opened and are renting for well below what the existing buildings go for. Wait until the other 30,000 units show up with no tenants, bargains await.

Nothing in Dubai will work out to be a medium to long term investment, unless you actually believe that dubai will become what they think it will become, and even then you are looking 25-30 years down the road, at which time your 'freehold' property will have exhausted 30 years of its 100 year lease, and technically should have lost 30% of its 'tangible' asset value.

Jammy_Dodgers May 10th 2005 8:18 am

Re: Villa for sale
 

Originally Posted by TA5
The days of speculative investors buying a unit from a developer and flipping it for a 15% premium are done. Just read the 'property' sections of the papers at how much is for sale and you'll see why. Investors thinking they were getting some 'limited supply' commodity are realizing now that they are a dime a dozen holding properties with a replacement value of 25% what they paid, and are trying to get premiums on resales when now it is relatively easy for a person to buy direct from developers as the speculative investors have pretty much finished their capacity to buy up units. Prices at the marina for rental will drop soon guaranteed, seeing that Al Seef tower and the 2 new Emaar towers just opened and are renting for well below what the existing buildings go for. Wait until the other 30,000 units show up with no tenants, bargains await.

Nothing in Dubai will work out to be a medium to long term investment, unless you actually believe that dubai will become what they think it will become, and even then you are looking 25-30 years down the road, at which time your 'freehold' property will have exhausted 30 years of its 100 year lease, and technically should have lost 30% of its 'tangible' asset value.

Karma sent

Border Reiver May 10th 2005 8:23 am

Re: Villa for sale
 

Originally Posted by TA5
The days of speculative investors buying a unit from a developer and flipping it for a 15% premium are done. Just read the 'property' sections of the papers at how much is for sale and you'll see why. Investors thinking they were getting some 'limited supply' commodity are realizing now that they are a dime a dozen holding properties with a replacement value of 25% what they paid, and are trying to get premiums on resales when now it is relatively easy for a person to buy direct from developers as the speculative investors have pretty much finished their capacity to buy up units. Prices at the marina for rental will drop soon guaranteed, seeing that Al Seef tower and the 2 new Emaar towers just opened and are renting for well below what the existing buildings go for. Wait until the other 30,000 units show up with no tenants, bargains await.

Nothing in Dubai will work out to be a medium to long term investment, unless you actually believe that dubai will become what they think it will become, and even then you are looking 25-30 years down the road, at which time your 'freehold' property will have exhausted 30 years of its 100 year lease, and technically should have lost 30% of its 'tangible' asset value.

I agree that the speculators have made what they are going to make and the people buying now are the end users, or landlords planning on renting the properties out for a period of time. If you want to give any credibility to the rest of what you say though you are going to have to tell me where I can find "thousands of villas at 0% premium". I'm waiting.

You may not have leasehold in America but in the UK leasehold is fairly common, especially in the big cities and for apartment blocks. The properties don't fall in value by 30% just because 30% of the lease has been used up- it is generally only in the last 10-15 years of a lease that the property price is affected.

Border Reiver May 10th 2005 8:25 am

Re: Villa for sale
 

Originally Posted by Jammy_Dodgers
Karma sent

Good grief, don't encourage him! :D

W10 May 10th 2005 8:31 am

Re: Villa for sale
 
Flies are a bigger problem than mosquitos at the moment, I'm sure the mosquito invasion is just around the corner.

But forward planning is not an Emaar trait!

TA5 May 10th 2005 8:56 am

Re: Villa for sale
 

Originally Posted by W10
Flies are a bigger problem than mosquitos at the moment, I'm sure the mosquito invasion is just around the corner.

But forward planning is not an Emaar trait!


Neither is quality saw the first major crack in a wall of my marina apartment yesterday, right at a corner near the ceiling. And i've heard the similar tales of lack of quality from across the highway

Advantage of freehold: 100 year lease
Disadvantage: Your apartment/villa falls apart after 5 years.

I was in the greens at a barbecue the other night, they've got a serious fly problem too, although they all seemed to dissapear when the sun went down. I've never noticed that at the marina, however i figure as its close to the sea and gets decent wind most bugs would get blown inland, especially with stagnant lakes to nest in.

PS. It isn't encouragement, its more and more people seeing the inevitable disaster coming to the Dubai property market.

W10 May 10th 2005 9:06 am

Re: Villa for sale
 
Moved into my brand new rented villa 10 days ago.

The build quality is nothing short of appalling and I've already had to get them in to fix leaking A/C twice in that time.

My favourite is my downstairs toilet is actually installed at an angle.

Happiness May 10th 2005 9:18 am

Re: Villa for sale
 

Originally Posted by W10
Moved into my brand new rented villa 10 days ago.

The build quality is nothing short of appalling and I've already had to get them in to fix leaking A/C twice in that time.

My favourite is my downstairs toilet is actually installed at an angle.



Hmmmm...and just out of interest...how many times did you have to call them before they actually came to fix the A/C?.... :confused:


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