[corkers]

Hello Expats,

I'm a complete newbie to the forum (this being my first post) but hope I can contribute.

I know Dubai pretty well as have stayed for 4 months a year for the past 4 years.

I'm now looking to relocate full time and seeking a 1 B/R apartment.

My budget is between 40,000 - 70,000 although my ideal spend would be 55,000

My ideal areas are the Old Town (listed properties seem to be from 70k +,) Marina or Downtown/Business Bay.

I've seen a lot of threads regarding prices and the current market, although, to me - prices still seem to be listed relatively highly. What discounts should be expected in these areas for a property within this budget?

Would it be feasible to say that a property at 70k in old town listed with 3 cheques could be acquired for 55k with the same number of cheques or is that pushing it a bit?

Anyone with recent experience of this - your words are appreciated. I have noted around a 6% decrease in the last Q of 2010 so things are looking promising with the right LL.

Thanks

 

[Moe78]

Not likely no, you would have to reduce it to one cheque and even then it's a long shot. You might get 60k, probably 65k with one cheque but that area is quite expensive due to its vicinity.

 

[corkers]

Thanks for the quick response - just trying to work out a starting point for non laughable negotiations.

So I guess looking at a 20% starting point and aiming for 10% is achievable, and the cheques are a strong negotiating point?

Thanks

 

[Mr Rossi]

work out a starting point for non laughable negotiations.

Don't even remotely begin to worry about that here, there is no etiquette and people are not offended on price negotiating. Go in low and be stubborn/blase about it too, your only factor in getting a low price is, like Moe said, on availability a particular area and that particular landlords desperation to rent.

 

[Moe78]

yeah sometimes they are, you can often get up to 5k or more if you reduce it to 1 cheque but then again some people just won't budge regardless.

Property Real Estate for Sale and Rent. Jobs in the Middle East and North Africa , Free Classifieds in with Dubizzle.com is a good general place to look for apartments. Bear in mind, old town may just not be possible for under 70k no matter how few cheques you give them.

 

[Moe78]

Just checked and there seem to be a few but the location may not be 100% correct mind you

Dubizzle.com

 

[darlingbuds]

Hi
We live in the Old Town in a 2 bed and moved the beginning of December. At that time we found that there wasn't much room for negotiation - we managed to knock 10k off one property based on two cheques but they wanted a clause put in the contract so they could get us out after a year. We looked at a larger 1 bed advertised at 95k and they said they wouldn't take less than 90k. In the end we got a 2 bed an managed to get 10k off the advertised rent.
They are quite stubborn, but suspect part of that is loss of property/rental value and the high maintenance they charges they pay here compared to some of the other areas.
Hope that helps.

 

[katiepotato]

You might have more luck in some of the towers rather than Old Town - The Lofts and Burj Views seem to be more negotiable due to the numbers available, although I still don't think you'd get a one-bed for 55k.

As Mr. Rossi says, it is all down to the landlord and whether their main concern is getting the property rented out, or whether they are determined to hold out for a particular price. I know our current place was empty for months before we moved in because our landlord was being totally unrealistic about the rental value. Fortunately I know a good agent... PM me when you get to 5 posts and I'll send you her details.

 

[corkers]

Thanks for all the responses - I guess I'll have to be a little bit more flexible if specific location/buildings are what I'm after - or just really search the market to find an in-need Land Lord.

 

[Mr Rossi]

know our current place was empty for months before we moved in because our landlord was being totally unrealistic about the rental value.

A friend has recently been looking round Jumeriah. There are now quite a number of villas literally rotting away because the owners still insists on old time rent.

One was so bad, he walked in and the agent said something like "the price is 240k and is completely non-negotiable" He replied that he wouldn't pay 1000 a month to live there and promptly walked out.

 

[Eng.Khaled]

A friend of mince rented a one bed-room, furnished flat in Marina, facing SZR with 46K - 4 CHQs. Try to check the place, I remember the name of the building was Diamond 4. It's just beside Marina Mall.

 

[Gavtek]

A friend has recently been looking round Jumeriah. There are now quite a number of villas literally rotting away because the owners still insists on old time rent.

One was so bad, he walked in and the agent said something like "the price is 240k and is completely non-negotiable" He replied that he wouldn't pay 1000 a month to live there and promptly walked out.

You're not wrong. The one I'm living in now is the only one I viewed that was remotely habitable, and even then it took a lot of work to get it in a state that I could live in no thanks to a completely inept real estate company who I wouldn't urinate on if they were on fire even though I was in a lot of pain due to a full bladder.

One of the villas had half a dozen dead birds floating in the sludge in the pool.

 

[Sumair]

If you interested in living behind Burjuman Center. PM me.


Thanks

 

[DubaiATC]

I've started looking around recently and haven't found much ability to use only one-check as a negotiating tool, which surprised me. At most I'd say that one-check might save you 5K, and it might not save you anything. I looked at several apartments recently and offering one-check didn't drop the price at all. :confused2:

 

[Mr Rossi]

I've started looking around recently and haven't found much ability to use only one-check as a negotiating tool, which surprised me. At most I'd say that one-check might save you 5K, and it might not save you anything. I looked at several apartments recently and offering one-check didn't drop the price at all. :confused2:

It really is a numbers game, you've just got to put in the leg work and see as many as possible. This also gives you a realistic benchmark of what properties are going for and how much to expect off, if anything.

It also depends on the occupancy rate of the area you are looking at, you've got more chance of a discount in JLT than Old Town for example.

Finally, the agents commission rate is based on the rental value so it's obviously not in their interest to knock prices off. If you like a place you may want to cut a deal with the agent on their commision separately so they are not out of pocket but you get the place cheaper.

 

[dizzyizzy]

If you like a place you may want to cut a deal with the agent on their commision separately so they are not out of pocket but you get the place cheaper.

That's exactly what I did. I told the agent I'd pay his commission fully but get me the place for x price and he did.

 

[NYCexpat]

Business Bay

Hello Expats,

I'm a complete newbie to the forum (this being my first post) but hope I can contribute.

I know Dubai pretty well as have stayed for 4 months a year for the past 4 years.

I'm now looking to relocate full time and seeking a 1 B/R apartment.

My budget is between 40,000 - 70,000 although my ideal spend would be 55,000

My ideal areas are the Old Town (listed properties seem to be from 70k +,) Marina or Downtown/Business Bay.

I've seen a lot of threads regarding prices and the current market, although, to me - prices still seem to be listed relatively highly. What discounts should be expected in these areas for a property within this budget?

Would it be feasible to say that a property at 70k in old town listed with 3 cheques could be acquired for 55k with the same number of cheques or is that pushing it a bit?

Anyone with recent experience of this - your words are appreciated. I have noted around a 6% decrease in the last Q of 2010 so things are looking promising with the right LL.

Thanks

I would try Business Bay. Maybe the executive towers. They should have 1 bedrooms that would definitely be in your price range and are quite nice on the inside if you can deal with the construction going on in the area on the outside. Plus its relatively in the same area in regards to proximity to the Dubai mall and such.