Jumeirah Village South - Why?

[KingPin]

I've been looking at other long term investments and came across Jumeirah Village South.

Can anyone advise me on why most of the apartments seem to be on cheaper side than what is available elsewhere?

Is it poor location, lower expectations on returns, basic builds?

Or is it being overlooked at the moment for more "sexier" projects like Old Town, Dubailand etc?

Any advice greatly appreciated.

[eyeC]

hi
1-i think most projects in JVS are done by small developers

2-they need about one year if not more just to collect the money from sales
prices go up and contractors will charge developers more for the same job
becouse of inflation materials demand and etc...
the developer is new to the market maybe his first job and he has high expectations about the profit he must make and he will not give one dime from his profit
so what does he need to do is ask the contractor for lower quality remove balconies, remove grass, lower finishing products so you the buyer will get something different from the pictures they used for marketing sometimes something completly diff

3-most fo the projects they say will finish in 2009 some end of 2009 meaning 2010 add to this another min six months delay to be on the safe side say one year so if they sell all flats in the building now you have many years before you recieve your flat

4- lets say the developer is good and he completes the job
you have a flat in 2009 or 2011 and you bought it 300,000 studio
in 2007 and you want to rent it they give you 30,000 rent for it
now we go to point five

5- year 2011 maintenace charges so high it will eat 20 % of your income
do your math you will see its just not worth it too much risk you taking with the developer ,many projects(over supply), and law is not clear on many issues


maybe its good for a long term investment and long term i mean 10+ years

tip
1-if you want to buy from a developer in JVS ask for 10% discount and you will get it and if you good you can get 20%
2-buy ready property and gain rents for three years which will make it alot cheaper ...they r pricing off plan too high its just not worth it


good luck

[fcrs]

Originally Posted by KingPin

I've been looking at other long term investments and came across Jumeirah Village South.

Can anyone advise me on why most of the apartments seem to be on cheaper side than what is available elsewhere?

Is it poor location, lower expectations on returns, basic builds?

Or is it being overlooked at the moment for more "sexier" projects like Old Town, Dubailand etc?

Any advice greatly appreciated.

JVS is good project but long term investment
if you are looking for something faster i got some project cuurenty the best price in the market office tower in Business bay, Sheikh ZAid road 1030 Dhs per Sq ft, developer price is 1100 Dhs something and all are on Resell only

Currenty office space in Sheikh Zaid road Starts from 300 Dhs to 440 Dhs ( per year )
Dubai marina is about 300 Dhs per Sq ft ( per year )
JLT 220 to 300 Dhs per Sq ft but its bad area currently because so much construction going on near by.. and its bit far too ( per year )
Business bay should be 350 to 800 Dhs per Sq ft which means 3 years you cover your investment ( per year )

If you are looking for office space in some excellent towers please let me know

[wayneis]

Master Developer of International City= Nakheel

Master Developer Juimeirah Village South = Nakheel

Could it be that investors having dealt with a large scale project (International City) which Nakheel was happy to call it self Master Developer
made promises that have yet to be delivered, increased service charges to over double what was originally quoted are steering clear of any Future
Projects where Nakheel is Master Developer and are not so easily fooled or convinced by glossy sales papers, fast talking salesman and promises of
much, much more!

Dubai investor's are becoming more wiser and doing their homework.

[KingPin]

Unlike me to not know the master developer is Nakheel.
That changes so many things. JVS has just dropped way down my list.

I'm not going to discount it completely, as like IC it is bound to be well overdue and nothing like we were promised and probably expensive to maintain, but also like IC it will make for good rental and is bound to appreciate in value.
Thanks for the heads up Wayneis.

[wayneis]

KingPin what I think will eventually happen is that JVS will piggy back on the success of Sports City which is across the road and close by.

If your thinking of parting with your hard earned cash have a look at Sports City, much better option than JVS.

[KingPin]

I had a quick look at Sports City, but some of the prices were a little rich for me. I was still getting better deals for flipped JBR apartments than what was on offer at Sports City.
My main drivers are location and value. Anything near the intented Jebel Ali airport creation, Dubailand, The Marina or nearer the city not built by Nakheel or Damac might be more what I'm looking for. Saying that, I've just about covered everywhere in Dubai above havent I? I've even started looking at Abu Dhabi and the Reem project. So much choice, so much confusion, so little money. Thanks for your continued help.

[Peter Mitry]

Hi Kingpin I've just bought off plan in Metropolis Lofts in JVS; these are two 29 story towers on the edge of the village with studios starting at under 50k GBP. There are restaurants, shops & a health club in the project and the qualities look excellent. They are NOT built by Nakheel or Damac but by a London based constructor. Please PM me if you would like more info..I just needed somewhere to crash instead of using hotels.

[KingPin]

I'll look into it. Thanks for your help.

[Peter Mitry]

If the project is of interest I can send you the e-brochure if you let me have your email address. As my company are in the property business we are registered as agents so if it did interest you we receive a commission of which I would gladly pay 50% back to you (this is worth 2% of the purchase price)