Re: Villa for sale
 

Rents are shooting through the roof. A mate that rents in The Meadows first got his villa for Dhs110,000 in 2003, then it went up to Dhs120,000 in 2004 and now his landlord has told him that when the annual renewal comes up he is bumping it to Dhs130,000 :rolleyes: That would be one reason to buy as far as I'm concerned, no more worrying about skyrocketing rents

Re: Villa for sale
 

I think to buy now would be riskier,because you may buy at a price,even at 0% premium,and the inevitable crash that people are talking about happens,you will realise that you will have lost more than a years rent worth on the value of your property.
As far as Im concerned,this is my two cents worth.

Re: Villa for sale
 

The long term growth viability is what is non-existent. The short term growth spurt is almost over, its the long-term that the market is going to get destroyed.

Nobody disagrees that there is a shortage of rentals right now, however, this is only because investors are holding tight to 70% or so of the available, unoccupied units. One day, these units are going to either drop in value to actually attract buyers, or hit the rental market en-masse causing rents to drop.

Rents in the marina are already dropping thanks to the newly opened buildings.

Re: Villa for sale
 

That is the second time you have mentioned falling rents at the Marina and while I'm not overly familiar with the new towers becoming available I would ask how the size of the apartments compares with what is available now, and what are the facilities like? At least one of the new towers is "at" the marina but actually nowhere near the water- or the shops and restaurants. I'd expect to pay a lilttle more to live nearer to the water, shops and restaurants, as well as have 24hr security, landscaping and what have you taken care of. The trouble with comparing rents in different towers at the same development is that you have to make sure you are comparing like with like. Also, where are you getting the rental prices for the new towers from? Care to give me a reference so I can check?

Re: Villa for sale
 

la la la

Re: Villa for sale
 

property times

Re: Villa for sale
 

Border Reiver, I called a real estate agent to ask about the new building TA5 mentioned that was cheaper, she said it was so because it was only near the Marina and not actually part of it by the marina front and so on. So rents havn't really gone down at the Marina as TA5 would have us believe!

Re: Villa for sale
 

wait until the other 100 'on the marina' buildings are finished

Re: Villa for sale
 

You're right. Three of my sister's colleagues in office sold their properties in Greens and Springs and have made between 250-350 k each (about 60% return on investment)

IG

Re: Villa for sale
 

Hi there Anya - long time no hear! On a completely different subject, do you think you could PM me details of that chap you were telling me about who does the perfume? Cheers! :D

Re: Villa for sale
 

Ah, so now you are saying you are wrong now, but will be right in a couple of year's time? :confused:

Re: Villa for sale
 

Listen, go ahead and do whatever you want. Believe the hype, ignore the warnings, ignore the professionals who are predicting a crash, it really doesn't affect me, only you.

I'll be sitting around laughing when I buy your place for 1/4 of what you bought it for in 2-3 years while you are stuck with the remaining mortgage through a corrupt islamic banking system.

Re: Villa for sale
 

I think all he was doing was pointing out the fact that you've changed your point of view completely from zero premium and discounted villas all over the place, to wait a few years then you'll see.

I certainly agree that the market is unsustainable in the long term, but that's not the point your initial post was making. You were suggesting a crash was just around the corner, if not already happening.

Re: Villa for sale
 

That is exactly my point. I expect to see a relatively low percentage increase in prices for the next year or so, and possibly even a slight dip if interest rates go up much, but certainly not a crash and certainly not "thousands" of villas being dumped at a loss. Unfortunately for the tenants among us I don't see much of a dip in rental prices either. As a property owner I would much rather see a steady, sustainable increase in prices rather than the boom and bust which has occured in the UK in the past.

Would I buy now? Yes, but I wouldn't expect to be able to sell in a year's time at a 30% profit and I would be selective about location.

Re: Villa for sale
 

I was talking about rents, not prices, prices are already dropping.