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Just when I was saying that rents weren't dropping....

Just when I was saying that rents weren't dropping....

Old Feb 19th 2009, 7:19 am
  #1  
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Default Just when I was saying that rents weren't dropping....

...looked at Dubizzle today and they have dropped all over,

2 bed villa in the springs - average is about 120k, plus a few at 96k or 100k,

2 bed villa in mirdif - some for 90-100k or a bit less,

Good news indeed.
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Old Feb 19th 2009, 7:46 am
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Default Re: Just when I was saying that rents weren't dropping....

the Marina dipped to around 150k for 2 bed but yesterday was back up to around 180k... still, it'll drop down again. I love the fact that landlords are still trying it on!
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Old Feb 19th 2009, 8:14 am
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Default Re: Just when I was saying that rents weren't dropping....

Originally Posted by Spugsy View Post
...looked at Dubizzle today and they have dropped all over,

2 bed villa in the springs - average is about 120k, plus a few at 96k or 100k,

2 bed villa in mirdif - some for 90-100k or a bit less,

Good news indeed.
85 in the Springs....

http://www.dubizzle.com/property-for...s/?from_search
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Old Feb 19th 2009, 8:25 am
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Default Re: Just when I was saying that rents weren't dropping....

A colleague who has to move after 3 yrs tried out our new strategy worked up over a coffee last week.

Please show me house Mr Agent.....

Fabulous 3 bed, wood floors, deck overlooking golf course green - seriously overpriced and in demand 12 months ago.....

300 k please.

OK barter about 30 off that.

...Oh and by the way I'm not paying you any commission - you can whistle to the LL for that.... and I want a maintenance contract, and no additional fees in any shape or form...

But...But!!!

.....and he walks out.

One hour later, phone rings - LL says yes yes yes - please let me personally carry you across the threshold tomorrow

........... OK, I'll think about it and get back to you

The game is changing very quickly. Yesterday a 5 bed independent villa in Barsha with pool was offered to him for 250. Today he looks at a 4 bed villa with pool in Marina at 'around' 260.

Getting seriously spoilt for choice!!
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Old Feb 19th 2009, 9:14 am
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Default Re: Just when I was saying that rents weren't dropping....

When I was looking for a place last october, 2-beds were breaking the 200,000 AED mark.

I'm so glad I never took a lease in my name....

Originally Posted by B Bear View Post
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Old Feb 19th 2009, 9:16 am
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Default Re: Just when I was saying that rents weren't dropping....

Originally Posted by B Bear View Post
A colleague who has to move after 3 yrs tried out our new strategy worked up over a coffee last week.

Please show me house Mr Agent.....

Fabulous 3 bed, wood floors, deck overlooking golf course green - seriously overpriced and in demand 12 months ago.....

300 k please.

OK barter about 30 off that.

...Oh and by the way I'm not paying you any commission - you can whistle to the LL for that.... and I want a maintenance contract, and no additional fees in any shape or form...

But...But!!!

.....and he walks out.

One hour later, phone rings - LL says yes yes yes - please let me personally carry you across the threshold tomorrow

........... OK, I'll think about it and get back to you

The game is changing very quickly. Yesterday a 5 bed independent villa in Barsha with pool was offered to him for 250. Today he looks at a 4 bed villa with pool in Marina at 'around' 260.

Getting seriously spoilt for choice!!
Fabulous!

I'm going to be pushing for 12 rent cheques, 1 month's notice and no commission. Time to pull them kicking and screaming into the century of the anchovy.

... and a nice use of smilies too...
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Old Feb 19th 2009, 9:57 am
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why ayeeeee man!
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Default Re: Just when I was saying that rents weren't dropping....

Originally Posted by B Bear View Post
A colleague who has to move after 3 yrs tried out our new strategy worked up over a coffee last week.

Please show me house Mr Agent.....

Fabulous 3 bed, wood floors, deck overlooking golf course green - seriously overpriced and in demand 12 months ago.....

300 k please.

OK barter about 30 off that.

...Oh and by the way I'm not paying you any commission - you can whistle to the LL for that.... and I want a maintenance contract, and no additional fees in any shape or form...

But...But!!!

.....and he walks out.

One hour later, phone rings - LL says yes yes yes - please let me personally carry you across the threshold tomorrow

........... OK, I'll think about it and get back to you

The game is changing very quickly. Yesterday a 5 bed independent villa in Barsha with pool was offered to him for 250. Today he looks at a 4 bed villa with pool in Marina at 'around' 260.

Getting seriously spoilt for choice!!
aye most of them want 6k for commission, so thats good, barter everything down.
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Old Feb 19th 2009, 10:38 am
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Default Re: Just when I was saying that rents weren't dropping....

Don't you already miss the century of the fruitbat ?

Originally Posted by Hello.Kitty View Post
Fabulous!

I'm going to be pushing for 12 rent cheques, 1 month's notice and no commission. Time to pull them kicking and screaming into the century of the anchovy.

... and a nice use of smilies too...

Last edited by Ethos83; Feb 19th 2009 at 10:44 am.
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Old Feb 19th 2009, 11:55 am
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Default Re: Just when I was saying that rents weren't dropping....

Originally Posted by Ethos83 View Post
Don't you already miss the century of the fruitbat ?
Times have changed, mate, gotta move on!
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Old Feb 19th 2009, 4:11 pm
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Default Re: Just when I was saying that rents weren't dropping....

Nice one.

This is what I have been saying to my mates in Dubai and it worked for them. They initially told the landlord that they "want a 50% reduction as these are now market rates and rent are falling daily all over Dubai".

As expected the landlord walked away, then called 2 days later saying he could only afford to give a 20% discount, to which my mate refused and said he was moving to the villa (non existent) in the next street as he is getting the same villla type for 50% less.

Anyway an hour later the landlord comes knocking on the door and agrees to it, but insisted on 2 cheques.

Not a bad result.

I say collusion amongs tenants and stupid offers to landlords are the best way forward.
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Old Feb 20th 2009, 6:47 am
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Default Re: Just when I was saying that rents weren't dropping....

This is great news. Screw the real estate wankers, they are as big a parasites as the LL's and equally to blame for the mess the rental market has been in the last 24M.

Harsh, but I can't hide my glee at hearing about real estate companies shutting and binning all the barasti mob back to essex. **** em, twats.

Poncing around in their armani suits thinking they are something special..

To the decent realators,(usually older established expats) good luck and hope you stick it out. And the next time dave from dagenham wants a job, tell him to try his local tesco's
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Old Feb 20th 2009, 6:57 am
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Default Re: Just when I was saying that rents weren't dropping....

Originally Posted by commander View Post
This is great news. Screw the real estate wankers, they are as big a parasites as the LL's and equally to blame for the mess the rental market has been in the last 24M.

Harsh, but I can't hide my glee at hearing about real estate companies shutting and binning all the barasti mob back to essex. **** em, twats.

Poncing around in their armani suits thinking they are something special..

To the decent realators,(usually older established expats) good luck and hope you stick it out. And the next time dave from dagenham wants a job, tell him to try his local tesco's
karma worthy post! love it! yes no commission is the way to go for sure!
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Old Feb 20th 2009, 8:57 pm
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Default Re: Just when I was saying that rents weren't dropping....

Originally Posted by Spugsy View Post
...looked at Dubizzle today and they have dropped all over,

2 bed villa in the springs - average is about 120k, plus a few at 96k or 100k,

2 bed villa in mirdif - some for 90-100k or a bit less,

Good news indeed.
Prices coming down in Abu Dhabi too - albeit fairly slowly. I got offered a villa in KCA in December 2008 for 450,000AED. Got offered the same villa this week for 350,000 AED...or "make me an offer".

I know of two villas not far from me that have dropped 50,000 AED in the last couple of weeks as there has not been a single sniff of interest.

Excellent. At this rate, I can afford to move back into town and get myself a nifty duplex overlooking the Corniche. Nice!
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