True Cost Of International City Apartments

[anwar khan]

Hi guys!!! According to georgihh, prices in Intl city are currently undervalued by 15 to 20% so that means by the end of this year or begining of next year the price for a 1 bed in IC would be around 850k or above which is a great value...what you reckon guys???

[georgihh]

Originally Posted by anwar khan

Hi guys!!! According to georgihh, prices in Intl city are currently undervalued by 15 to 20% so that means by the end of this year or begining of next year the price for a 1 bed in IC would be around 850k or above which is a great value...what you reckon guys???

Guys just to be more accurate

1 Today’s newspaper
Studio 510k, 1bed 740k
Rent studio 55k 1bed 75k
2 Any investor will be very satisfied with 8% per year cross rental return or 7% net (1% are currently the service charges in IC)
Studio should be 680k and one bedroom 950k
3 There is no other property in Dubai where you can clear more than 7% net from renting your property. IC is currently 10% - that’s why the properties are undervalued.
4 Once Nakheel manage to sell the Lake District units the land registration for the rest of the IC units will take place and the above figures will be the current prices.
Expect at least 1.5% monthly growth of your units for at least one more year

[muqarabin]

Is there a need to differentiate between the currently built IC and IC3. Cause IC3 seems to be of a much higher standard than the current IC.

I have a 1Bed in IC3 Cambridge Residence and wont be arting with it for anything less than 850,000 AED and that is even if I decide to sell.

[georgihh]

Originally Posted by muqarabin

Is there a need to differentiate between the currently built IC and IC3. Cause IC3 seems to be of a much higher standard than the current IC.

I have a 1Bed in IC3 Cambridge Residence and wont be arting with it for anything less than 850,000 AED and that is even if I decide to sell.

The difference is that the current IC is built and IC3 might never be built
Big difference what do you think?
Considering the above you have nothing and you cannot talk about qualities on something that doesn’t exist

[kully sanghera]

Hi all,
The clusters in the current I/CITY with the different country themes is like NO OTHER. At least most residents have made friends with fellow residents / neighbours etc; And made it a close community , Having basketball games eg; ( CHINA V 's ENGLAND ) rather than tower apartments / buildings, where people don't even realise who's living next door!
I / city IS under priced, & still a GREAT investment , I would'nt dream of selling my units as the rentals are great!
Good luck.

[muqarabin]

Originally Posted by georgihh

The difference is that the current IC is built and IC3 might never be built
Big difference what do you think?
Considering the above you have nothing and you cannot talk about qualities on something that doesn’t exist

Yes IC3 hasn't been built but I can tell you here and now that it will get built, and on the basis of that I can talk about the quality. The quality of IC3 will exceed that of the current IC, even if the finishing is the same, the spec of the buildings aren't. That is the way I see and understand it.

[anwar khan]

The value of IC seems to shoot up very soon....ofcourse Kully Sanghera selling our units at the moment wouldnt be wise....Kully Sanghera and georgih can i have your email ids please? Its great you guys live in dubai thats very handy, you can visit your units anytime you like and see what is what...Anyway, I am happy to find out that prices are gonna go up!!! Good Luck

[nadro]

i am interested in renting out my greece apt studio 3rd flr with balcony please email private or ndotroufatntlworlddotcom

[Markus]

I have been doing some research and it looks like the average price most apartment are being advertised for in I.C is about 985 AED per sq/ft. But this doesnt mean they are selling at these prices,does this seem like true market valve or should I be looking to pay less in these times


Markus

[georgihh]

Originally Posted by Markus

I have been doing some research and it looks like the average price most apartment are being advertised for in I.C is about 985 AED per sq/ft. But this doesnt mean they are selling at these prices,does this seem like true market valve or should I be looking to pay less in these times


Markus

That’s a good price. IC is the only project where selling and buying are happening in Dubai.
On top of that where can you get 10%+ rent from your investment – nowhere but IC.
Most of the flippers started to move their capitals in the highly profitable properties in IC.
Will be a slow down in Dubai but IC is different is a leaving city and the prices can still go up.
My advice is buy now and enjoy your rent return