Hi All
In answer to a previous question - yes, I am currently in Dubai.
I received my keys about a week ago and last weekend went up to see the apartment. I'm really happy with it - it's quite decently finished, the bedroom is quite big and the ceilings are high which adds to the feeling of spaciousness. Obviously, it's not huge but better than I expected. I spent a very peaceful, relaxing day there last Friday.Greece is a pleasant area - near the lake, which looks lovely.
It took 2 days only to let out the property - apparently there were 2 couples "fighting" over it and it's been let for Dhs55,000 per year from 1st Feb with 2 checks. The agents connect DEWA for the tenants - tenants pay the water and electricity costs.
So all in all I feel very happy with it as an investment. The agent told me he could sell it for Dhs600,000 and it's a great rate of return.
Best wishes
HB
Quote:
Originally Posted by reddevil
We are also with MiNC Properties and have signed up to the 8% agreement. The main advantage to us was that this 8% is guaranteed whether the property is tenanted or not (this is obviously a financial risk for them). You will pay the initial service charge and maintenance charges with any agency you decided to choose - so no difference there. For us, this was a choice we made and it is not possible to say whether it has been the right one yet as this will depend on how much demand there is for the Greece area??
Has anybody actually found a tenant yet? I guess not because keys are only just being handed over and there must be a lot of competition from the other thousands of properties in International City?
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