Looking into development in Ajman

[jackson]

Hi all,
I?m looking into a development in Ajman, between Sharjah and Dubai. It?s called Gold Crest Dreams. The prices are fairly reasonable as I think the area is new to property investment. Does anyone know much about the area? Or have any specific advice regarding this or any development in Ajman.

The payment plan in place for GoldCrest Dreams is one of the main reasons I?m interested in it. I can get a one-bed at a price I?m comfortable with paying over the next 5 years. I?m not buying this purely as an investment, I want to use it for family holidays, but in the long run I guess it has to be a sound financial investment. I'll be going to Dubai in a few weeks and intend to look into several developments, but at the minute, this is my favourite, based on the numbers. I know very little about the area, so might hate it.
Regards
Jackson

[jason]

Hi Jackson,
The development seems good an investment because of its location and payment structure in Ajman. The Emirate of Ajman is fairly minute in size (around 150 sq km) and has a population of almost 100,000. Ajman is basically a place where lower middle class people working in Dubai live! Ajman to Dubai drive is around 20 kms but it takes 60-90 minutes during office hours and shopping hours (that pretty much means almost every hour of the day you are awake!).

Right now, one bedroom apartments usually go for 18-25K AED per year or maximum 30K depending on the area and how new is the building.

Ajman is known for fishing, some old archeological sites, few shopping centers, beaches and its free zone.
Many thanks
Jason

[Nads]

hi,
just joined the forum - i too am looking at Ajman. Did you go through with your purchase of Goldcrest Dreams ?Which company did you buy through ?

[Fizzypopp]

This developement is available directly through us as an appointed agent. You will deal directly with the developer.

Goldcrest Dreams, AJMAN - The four majestic residential towers of Goldcrest Dreams is being built using the newest mixed use development on the Emirates highway, Ajman - International Property Directory Developement

It will cost you nothing and could help you make the right move.

Paul Fissenden
International Property Directory
Tel: +1 519 204 0274
email: sales@internationalpropertydirectory.com
2003-2007

[aggie_101]

Hello

I am looking into buying a 2 bedroom in parkview in ajman. How does parkview compare to emarite city? any advice on parkview plz?

thanks

[InfoGuru]

I have been looking to buy a 2 bedroom apartment in Ajman for many months. I do believe this is probably the best area within the UAE to buy as I have seen property prices increasing every month. I wish I had bought several months ago. However the weak £ is now affecting my budget and I am not sure what direction this will go in as it may make the payments even higher than I can afford.
The best areas I have found are Emirates City and Emirates Lakes Towers Region. There is a thread on "GSS and Openshore" in this forum which is worth looking at and I am considering a 2 bedroom apartment from Openshore mainly because of their very attractive payment plans.
Does anyone know what the rental returns are in this area. Openshore are forcasting 7% of property price at the time the property is let out. Is this reasonable or optimistic?

[Crofty2000]

The Best Buy In Ajman

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I have been looking to buy a 2 bedroom apartment in Ajman for many months. I do believe this is probably the best area within the UAE to buy as I have seen property prices increasing every month. I wish I had bought several months ago. However the weak £ is now affecting my budget and I am not sure what direction this will go in as it may make the payments even higher than I can afford.
The best areas I have found are Emirates City and Emirates Lakes Towers Region. There is a thread on "GSS and Openshore" in this forum which is worth looking at and I am considering a 2 bedroom apartment from Openshore mainly because of their very attractive payment plans.
Does anyone know what the rental returns are in this area. Openshore are forcasting 7% of property price at the time the property is let out. Is this reasonable or optimistic?

Just been on the Openshore thread and posted a reply to your post. Openshore's forecast is a bit low. The rental yields in Dubai are around 10% of the property price and I would have thought this area would be in higher demand as property prices (and hence rents) would be lower than in Dubai. Openshore do say that this is the net rent you would get in your hand (after taking thier expenses). The gross rent the customer pays will be higher and may be around 8% to 9%.

[aggie_101]

Thanks infoguru for the quick reply. So no idea about parkview?

[InfoGuru]

Sorry aggie
I forgot to mention Park View. This area is the 4th one along Emirates road as you come from Dubai (on the south side). The first area is Emirates Lakes Towers, then Emirates City, then Bouleward and then Park View - just before Marmooka City. It is expected to be ready much after Emirates City and is regarded as less prime (with most purchasers from the East) with apparantly lower growth forecasts. However this information was obtained from other agents and developers with properties in other areas of Ajman and so may be biased against Park View? I have been looking into this New Ajman area for past 10 months and I think the best areas are Emirates Lakes Towers and Emirates City.

[aggie_101]

thanks guru. this is actually interesting, a friend was telling me that its the other way around, more landscape and green in parkview and supposetly will be "higher" price and well planned area. but i have heard your point as well from other sites, easterns are spending quite bit of money in ajman, and they got in mainly in parkview, but again, i wanted to know what the truth is, and it seems that your tip is valid. based on what you said, i will stick with emarite city for now as i have a good offer there, 525 per sqft.
what do you think?