DXBtoDOH

What's the latest trend?

I looked through propertyfinder.ae and it does look like there's a decline. A few 1-bed flats in Downtown (Burj Lofts and Views and Boulevard) are now asking in the upper 80ks! One beds in the Fairways/Golf/Links in the Greens are starting to ask 95-100k.

Seems around 10-15k lower than a year ago.

TheShed

2 beds on the Palm were 150-180 last year and now many on Dubizzle for 130-140. My friend got one with a nice view at 135 with four Cheques about a month ago.

DXBtoDOH

20% decline?

Seems fair enough. Slight variation by area. Downtown seems to have seen a sharp decline. Oversupply? Competition from BB?

Greens/Views seems to be 15% down.

Don't know about Marina.

NorthernLad

I don't know about the prices, but seeing more and more empty houses in The Springs.

Jumeriah Park villas look to be around 15-20k cheaper than 18 months ago.

Irishbeekeeper

Im down about 30% (from last year) of what I was getting from my studio in Discovery and even then I had to sleep with the tenant's grandma to seal the deal, so to speak.
I would say there are atleast 2 to 3 flats empty per building in that area right now
Why this does not feel like 2008 at all!!

DXBtoDOH

When we start seeing 50<% declines year to year then we can talk about the 2008-2009 crash.

scrubbedexpat141

Possibly. Traffic is atrocious though, no access South is painful.

Millhouse

I'd also like to know what they are doing in business bay. The big trench they have dug by the JW. That's affecting my happiness.

scrubbedexpat141

Cut and cover tunnel I reckon. To link the flyover over the previous junction (on way to JW from Downtown tunnel). Then tunnel pops up to flyover to.....I don't know....Al Khail via the Godolphin bridge? No idea. Can't work it all out if I'm honest but I think it will link everything better and give a South option.

mission

rental prices have definitely come down....i've just secured a 1 bed in the marina (with marina view) for 100k...which i know maybe 1-2 yrs ago would have been 120k.
I could have actually negotiated a further 5k decrease, seeing how the same unit i have got, are going for 95k on lower flrs.

Gavtek

Part of the "parallel roads project", the idea is to have a road running parallel between SZR and Al Khail Road (handily named "1st Al Khail Street" which won't be confusing at all) from the start of the new bridge at Wafi to the far end of JLT.

Once they've finished this tunnel area in Business Bay, it should link up with the main-ish road that runs through Al Quoz, then join up with the road that runs from behind Lulu Al Barsha to TECOM and beyond.

Not sure how they're going to upgrade the Al Quoz corridor, there's not much room to play with there.

scrubbedexpat141

As long as it gives Business Bay a link to go South I don't mind. That's the only bad thing about living in the poor man's Downtown.

DXBtoDOH

Wouldn't be surprised if the long term plan is to move all the industrial and warehouse bits of Al Quoz elsewhere and redevelop the area. Location is prime, especially as the city continues to grow.

MAV_DXB

My rent is up for renewal, the landlord (company) emailed to inform me of an increase - I've yet again had to inform them that I won't be paying the increase (RERA Calculator) - this will be the 4th year I've had to go to RERA and deposit cheques.

I've overseas at the mo, I hope they see sense (hahahaha) before I return.

A new one this year from the landlord... a 500dhs 'management' fee.

DXBtoDOH

Too many expats blindly pay the increase because they can't be bothered to make a fuss or hunt for a new place. Does a real disservice to the rest of us.