International City - Spanish Cluster

[Jamilm]

Originally Posted by ahs1234

Dear Jamilm!!!

Thanks for the reply, useful info but I was surprised with the price of two bedrooms apt you mentioned. When going through these forums I see the guys are selling and asking studio and one bedroom from 400k to 500k, how can be that two bedrooms market price is 520k. Pls help?????? In addition can you pls amount these charges in AED.
Thanks

Dear ahs1234
Sorry I dont want to mis lead you but where have you got a 2 bedroom from ? all apartments in IC are Studio and 1 bed room, so who told you about 2 bed?
Do you have a 2 bed apartment if so where is it ??

You need to talk to ARY for the remaining fees, and ask them when your handover dates are. We were told by our agents what the outstanding balances were and what the dates are for our handover.

The Service charge is per sq feet I paid about 9.70 aed per sq feet,(this wil differ per agent) the affection fee was only 850AED then an admin fee of 3000 plus a 1.5% registration fee.

I have a date in Oct for my place S8. So its down to ARY, you need to find out this info NOW !! as Spain is being handed over by Nakheel.
There is a seperate thread on ARY issues have you see it.

[wayneis]

AH1234 check out the post here on what Nakheel says your costs should be

Thread and postings on ARY have been moved to the name and shame thread due to the number of complaints link here

Advice check with Nakheel, as they have taken the position that what goes on between you and your agent is none of their business, ( great cop out!)

[Sunjay]

I am going over to collect my keys for building no. T9 in Spain. Can anyone tell me if they have experience of using any letting agents out there? Can anyone also recommend who I use?

Many thanks.

[wayneis]

If you want to use an agency better homes have a good reputation

If you want to do it your self then try the web site dubizzle.com that way you can deal directly with the future tenant who will not have to pay agency commission making it more attractive to them.

If dealing with an agency then negotiate a lower commission fee for the first year as any defects or problems with the apartment are covered under the 1 year warranty period, so from a management view point the apartments are easy money in the first year.

Just be aware that unless the tenant decides to leave on the own free will you will be unable to cancel the tenancy agreement for a 3 year period and the rent will remain the same for a 24 month period. The Rent Committee take a dim view of land lords profiteering at the expense of tenants.

[Sunjay]

Thanks for the good info Wayneis.

Do you know how much rental income a studio should achieve? There are so many figures banded around. I would rather have a realistic figure, as apposed to a sky high figure, but no tennant.

[wayneis]

Sunjay can only speak from my experience 36,000 AED 4 cheques no problem renting. From speaking recently with an agent 40,000 AED and above seem to be getting tenants another sign that the market price is coming up to a more realistic level.

The problem we had is that nakheel flooded the market and peoples expectations with a rental price that was much below what the market was paying. International City is still and will remain the cities most affordable rental product due to various factors including location and master development still not completed.

As Summer is now well and truly on its way out, you should find it easier to rent. Historically many rental contracts end in Dubai end of the year however this has now changed due to the shortage of rental accommodation.

I keep saying this , however check out dubizzle.com for an idea on what people are asking for rent. Should give you an idea else you can approach the real estate agents directly.

[ahs1234]

Originally Posted by Jamilm

Dear ahs1234
Sorry I dont want to mis lead you but where have you got a 2 bedroom from ? all apartments in IC are Studio and 1 bed room, so who told you about 2 bed?
Do you have a 2 bed apartment if so where is it ??

You need to talk to ARY for the remaining fees, and ask them when your handover dates are. We were told by our agents what the outstanding balances were and what the dates are for our handover.

The Service charge is per sq feet I paid about 9.70 aed per sq feet,(this wil differ per agent) the affection fee was only 850AED then an admin fee of 3000 plus a 1.5% registration fee.

I have a date in Oct for my place S8. So its down to ARY, you need to find out this info NOW !! as Spain is being handed over by Nakheel.
There is a seperate thread on ARY issues have you see it.

I have a two bedrooms apartment measuring 1200 sqft with two balconies in I/C Spanish Cluster building # S5, possession due in Oct-07. I paid for it, have the blue prints and confirmation from both Nakheel and ARY. Is there more feedback you can give me about this please!!! Thanks

[colum1975]

Hi All,
it's great to see that the apartments are ready (finally).
I own a large (approx 980sq ft) 1 bed with balcony on ground +2 floor.
What do you think is the market value for rent, and also where's the best place to advertise.

thanks,
colum

[chaz.]

anyone got any pgoto's yet???would love to see something if you have!!! cheers.x

[sleepy]

Hi Has anyone had any problems trying to contact zero 4 and Shirley Matthews ?? I have sent a number of emails and tried to call . All I get is a busy tone. Although I did get a reply from the admin saying that someone will contact me shortly. I still have not heard anything back . Could this be down to Ramadhan ? If anyone has any additional no' s then please post them or PM them to me.


Thanks in advance!!