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Originally Posted by ATA
In 3 years, im up probably up by about 20% when the other developments have risen by almost 80-100%.
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ATA very true! We have been taken for a bumpy ride with all expenses thrown onto the investor. Deceptive Marketing.Dishonest Agents and a string of wild un for filled promises both in writing and verbal have contributed to the small increase in REAL VALUE on the apartments
Projects markets around same time (2004) as International City by Emaar such as Springs The Greens or other Projects such as JBR now
have risen in price from original listing by 300% Example The Greens a 1 B/R origional price around 350k AED now sells for 900K to 1 Million AED
Brought 1 bedroom 2004 cost AED 348,000
Sold March 2007 Total 450,000 (buyer did not have to pay any charges as this were included in price)
Works out to just over 11% a year BEFORE Costs
I am just keeping a Studio apartment. Why Then?
There is an acute rental shortage in Dubai.
There has not yet been one development in Dubai that I can recall that after completion has not increased in value by a large amount. Completion I mean when all the greenery and Buildings and shops and facilities have been built.
Skeptical about the Forbidden City as Nakheel played dumb when asked if the Rumor was true that this would be canceled. For a huge development (Forbidden City) that was promoted extensively at sales time here we are with people residing and building hand overs and just a huge sand patch when Nakheel said there would be a Forbidden City or did they really mean Hidden City?