Discovery Gardens

[imrank33]

Originally Posted by refles

Hi everyone,

I am new to this forum but know Dubai pretty well as I already bought a flat in the Marina and have visited twice a year for the past four years.
I read all your posts which are very informative indeed. In my opinion the market is not going to crash any time soon but hey I don't have a crystal ball, right?!

I am now looking to buy a studio in DG after doing my homework on the web. In the small ads you can get one for approximately 600K which is already 60 per cent more than when they were first launched. My aim is to buy to let, no resale in the short term. Do you think it is a good investment? Also, I saw there were four clusters, is there one which stands out from the rest in terms of quality and location,
for example which one would be the closest to Ibn Battuta Mall?

Any advice appreciated.

i am also looking for a Studio in DG , i believe it will be a good investment to buy and to let it , as there are very few residential units near jebel Ali , DIC etc.. in some time one can expect rent for studio around 70-80k

Anyone willing to sell studio in DG please contact me ..

[georgihh]

Discovery gardens is a great place but depends how will start
I have bought a studio fort 335000DHS 2 years ago and the price is almost double
at the moment.
I have the feeling that the demand is not as usual and will be difficult to rent a studio
For more than 50k
Never mind after one year of price increase by 50% I am very happy
Its time for correction and I am planning to sell

[shakeel50]

Any idea about availability of 1 BR upto the range of 800k at reasonable PSF rate.

Originally Posted by georgihh

Discovery gardens is a great place but depends how will start
I have bought a studio fort 335000DHS 2 years ago 8and the price is almost double
at the moment.
I have the feeling that the demand is not as usual and will be difficult to rent a studio
For more than 50k
Never mind after one year of price increase by 50% I am very happy
Its time for correction and I am planning to sell

[imrank33]

what price you want to sell your studio as i want to buy on cash ..

[praveen]

I also like to buy one bed apartment in Discovery Garden.
I dont know where to start. please guide me

[aazain]

1 bed price in Discovery Garden is approximately 1100 psft most of the 1 bed areas range between 968 - 1000 sqft hence the average price is 1.1 mil at the moment.

[girlinterrupted]

Originally Posted by mpat

If you are happpy with it then that s what you should consider the best,
I feel taht there will be many distress sale in teh market if we keep looking, becasue 90 % of investor in UAE buy OFF PLAN and that is one of the reason that ready properties does not appreciate the most after handover as compared with off plan...

I wish you all the best,

Could you elaborate on this point, didn't quite get it

[girlinterrupted]

Originally Posted by georgihh

Discovery gardens is a great place but depends how will start
I have bought a studio fort 335000DHS 2 years ago and the price is almost double
at the moment.
I have the feeling that the demand is not as usual and will be difficult to rent a studio
For more than 50k
Never mind after one year of price increase by 50% I am very happy
Its time for correction and I am planning to sell

If you look at the amount people looking to buy on this forum should say something about the demand, don't you think?

[mpat]

Originally Posted by girlinterrupted

Could you elaborate on this point, didn't quite get it

Basically investors look to make more profit from teh investment and price go up during the construction phase and not after the hand over.

Recent survey showed tht 90% of investors buy OFF PLAN properties.I think that is one of the reason for lifting the prices high,becos it gives an impression of high demand.

[girlinterrupted]

Originally Posted by mpat

Basically investors look to make more profit from teh investment and price go up during the construction phase and not after the hand over.

Recent survey showed tht 90% of investors buy OFF PLAN properties.I think that is one of the reason for lifting the prices high,becos it gives an impression of high demand.

I disagree about prices not rising after completion and handover. Name one development where it is true. Springs, Meadows, Greens, JLT, Marina. Greens original price for 1 bed was approx 500k at hand over it touched 700-800k and now it's 1.2 million.