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Wait or not to wait.......

Wait or not to wait.......

Old Mar 3rd 2009, 5:30 am
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Question Wait or not to wait.......

Im sort of stuck, and need some advice...

I got a phone call from the Nurans managed service apartments who said they had an offer on a 2 bed for 160k apartment but it was only available till April and then the price would go up again.

The thing is my current apartment (also managed service) runs out in September, been weighing up the pro's and cons and id be saving a few thousand if i moved now even if i paid the exisiting early termination charge but then im thinking what if the prices of rental property goes down even further come September time.

Also heard that some people are waiting till school finishes and then they are off back home so there would be an abundance of villa's, apartments available in August, September.

Rang up Better homes for some advice and they gave me the "no , prices are going up very soon" lark.

Now I pretty much assume they're talking crap but needed some wisdon off you guys, my heads telling me to hold out till September.
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Old Mar 3rd 2009, 5:36 am
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Default Re: Wait or not to wait.......

It may be true that lots of people leave in Aug/Sep at the beginning of the academic year, but for the same reason, lots of new people arrive.

If you sign the Tenancy for the new place, I think they can only increase your rent by 5%. That is what I was told anyway. My rent increased by only 5% this year, and apartments in my block the same as mine are now going for 70k more than mine.

I wouldn't wait, but others on here might have more informed advice...
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Old Mar 3rd 2009, 5:37 am
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Default Re: Wait or not to wait.......

Originally Posted by deemi786 View Post
Im sort of stuck, and need some advice...

I got a phone call from the Nurans managed service apartments who said they had an offer on a 2 bed for 160k apartment but it was only available till April and then the price would go up again.

The thing is my current apartment (also managed service) runs out in September, been weighing up the pro's and cons and id be saving a few thousand if i moved now even if i paid the exisiting early termination charge but then im thinking what if the prices of rental property goes down even further come September time.

Also heard that some people are waiting till school finishes and then they are off back home so there would be an abundance of villa's, apartments available in August, September.

Rang up Better homes for some advice and they gave me the "no , prices are going up very soon" lark.

Now I pretty much assume they're talking crap but needed some wisdon off you guys, my heads telling me to hold out till September.
We've got friends waiting for their apartment to be completed, in meantime they have a 1 bed managed apartment in Al Barsha. They paid 80k for 6 months back in October. They are now told if they want to stay the price is down to 60k for next 6 months.

I'd stay clear of BH. and as for advice from them....
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Old Mar 3rd 2009, 7:08 am
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Default Re: Wait or not to wait.......

Originally Posted by NorthernLad View Post
We've got friends waiting for their apartment to be completed, in meantime they have a 1 bed managed apartment in Al Barsha. They paid 80k for 6 months back in October. They are now told if they want to stay the price is down to 60k for next 6 months.

I'd stay clear of BH. and as for advice from them....
hmmm whereabouts in al barsha? My son goes to GEMS world acadamy and if its near might be worth checking out.

Anyone know of any managed service apartments in Dubai, i only know of Nurans, Green lakes and Tumani.
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Old Mar 3rd 2009, 7:11 am
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Default Re: Wait or not to wait.......

Originally Posted by deemi786 View Post
hmmm whereabouts in al barsha? My son goes to GEMS world acadamy and if its near might be worth checking out.

Anyone know of any managed service apartments in Dubai, i only know of Nurans, Green lakes and Tumani.
there are lots of places in the TECOM area, drive round and you will easily spot them.
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Old Mar 3rd 2009, 7:26 am
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Default Re: Wait or not to wait.......

Originally Posted by Blue Cat View Post
there are lots of places in the TECOM area, drive round and you will easily spot them.
ok i havent been here that long and i travel allot, wheres TECOM, greens area? Near emirates gold course, near EMAAR building?
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Old Mar 3rd 2009, 7:29 am
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Default Re: Wait or not to wait.......

Originally Posted by deemi786 View Post
ok i havent been here that long and i travel allot, wheres TECOM, greens area? Near emirates gold course, near EMAAR building?
opposite the Greens, all the high rises.
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Old Mar 3rd 2009, 7:33 am
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Default Re: Wait or not to wait.......

Originally Posted by Blue Cat View Post
opposite the Greens, all the high rises.
is there any you would recommend?
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Old Mar 3rd 2009, 8:33 am
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Default Re: Wait or not to wait.......

Originally Posted by deemi786 View Post
is there any you would recommend?
I have only been in the Laylia one it was beautiful.
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Old Mar 3rd 2009, 9:29 am
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Default Re: Wait or not to wait.......

Originally Posted by NorthernLad View Post
We've got friends waiting for their apartment to be completed, in meantime they have a 1 bed managed apartment in Al Barsha. They paid 80k for 6 months back in October. They are now told if they want to stay the price is down to 60k for next 6 months.

I'd stay clear of BH. and as for advice from them....
i think everyone is predicting rents to decrease further, and there is already evidence that they have fallen, with lots of landlords accepting up to 12 cheques...i would defo hold out for a while...

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Old Mar 3rd 2009, 2:41 pm
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Default Re: Wait or not to wait.......

Originally Posted by deemi786 View Post
Im sort of stuck, and need some advice...

I got a phone call from the Nurans managed service apartments who said they had an offer on a 2 bed for 160k apartment but it was only available till April and then the price would go up again.

The thing is my current apartment (also managed service) runs out in September, been weighing up the pro's and cons and id be saving a few thousand if i moved now even if i paid the exisiting early termination charge but then im thinking what if the prices of rental property goes down even further come September time.

Also heard that some people are waiting till school finishes and then they are off back home so there would be an abundance of villa's, apartments available in August, September.

Rang up Better homes for some advice and they gave me the "no , prices are going up very soon" lark.

Now I pretty much assume they're talking crap but needed some wisdon off you guys, my heads telling me to hold out till September.
but it was only available till April and then the price would go up again.

No chance of getting a higher rental income in April.

Call their bluff - tell them you'll look at it again in April if it's 20% CHEAPER than it is now..............
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Old Mar 3rd 2009, 2:54 pm
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Default Re: Wait or not to wait.......

Hi,

Need a new place to rent May 2009, How long does it take? say i find right place & make an offer when do i get the keys?

Mick
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Old Mar 3rd 2009, 3:52 pm
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Default Re: Wait or not to wait.......

Originally Posted by mickf View Post
Hi,

Need a new place to rent May 2009, How long does it take? say i find right place & make an offer when do i get the keys?

Mick
We were advised to not start looking until ready to sign...found a place, signed and had keys within 2 days.
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Old Mar 3rd 2009, 6:57 pm
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Default Re: Wait or not to wait.......

A thing not to dismiss is the fact that Abu Dhabi have been pushing for lower rents in the UAE as a whole for years, the Al-Nahyans wants a diversified economy with a healthy industrial base which means that workers must be able to afford housing.
That said they have of course been profiting from the property boom but lately the money for luxury developments have been mostly directed abroad while local developments must be low and middle income targeted to get the nod from the Sheikhs with few exceptions.

So rents will hardly rise quickly in Abu Dhabi, rather the opposite as the guys at the top look at boosting the local property market after the summer (new mortgage financing available thru joint developers/Al-Nahyan mortgage institution) meaning that it will be to their advantage if prices fall a bit more (dragging rents down as well) before they step in.
The local Abu Dhabi banks have already been "boosted" to withstand a further fall in property values so they will not be much affected and will also benefit from having parts of their property loans disappearing as a new mortgage institution takes a slice of the market.


IMHO of course...
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Old Mar 5th 2009, 11:28 am
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Default Re: Wait or not to wait.......

Originally Posted by bimcnorth View Post
A thing not to dismiss is the fact that Abu Dhabi have been pushing for lower rents in the UAE as a whole for years, the Al-Nahyans wants a diversified economy with a healthy industrial base which means that workers must be able to afford housing.
That said they have of course been profiting from the property boom but lately the money for luxury developments have been mostly directed abroad while local developments must be low and middle income targeted to get the nod from the Sheikhs with few exceptions.

So rents will hardly rise quickly in Abu Dhabi, rather the opposite as the guys at the top look at boosting the local property market after the summer (new mortgage financing available thru joint developers/Al-Nahyan mortgage institution) meaning that it will be to their advantage if prices fall a bit more (dragging rents down as well) before they step in.
The local Abu Dhabi banks have already been "boosted" to withstand a further fall in property values so they will not be much affected and will also benefit from having parts of their property loans disappearing as a new mortgage institution takes a slice of the market.


IMHO of course...
i think ill wait..........

I mentioned moving in september to the apartment block manager and for some reason he's now upgraded me to the 41st floor with a sea / golf course view, now i have to decide whether i can be bothered to move all my crap from the 8th for a few months...

decisions...decisions...
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