Dear All,
I am newbie on this forum.. I am planning to buy a 2 BR apartment in Dubai - preferably in JLT or Marina as a I work in DIC.
Budget - apx AED 1m
Any pointers on good properties in these two areas which might fit in my budget would be really helpful.
Thanks,
Alok
Working in DIC? then that's a good shout but don;t rule out the Greens or The Views however it's not like buying a place in UK.
Do you have 1m to put down or is that a mortgaged deal because there has just been an edict by the central bank which says expats need to put down 50%.
It came into force at the start of the year...whether it remains in place we shall see but they've done it to cool the market but whether values fall we will have to see.
Marina is better than JLT and thus is more expensive.
For AED 1m you'll not be able to buy a 2 bed unless it's in a secondary marina tower imho and even that might be a stretch.
The two bed that i am renting in Torch cost the owner 1.25m in July 2012 and we've seen growth in H2 2012.
JLT is annoying because the views aren't that good, the lakes are actually disappointing but most of all...the road network is a pain in the a$$ when there is traffic. and in Dubai there is always traffic.
for 1m you could get a large 1 bed in Lake View tower which is at the southern end on the west side of the lake near SZR interchange 5.5.
If you have 1m to put down then you can get something nice in Marina or The Greens or The Views. If not then I think you'd have to look for a 1 bed and if you were planning on putting down <50% then I think you'll either have to give up or wait to see what happens with the banks and mortgage lending LTV ratios.
Similarly, 2 beds rent for less in JLT than in the Marina.
Primary marina 2 beds you'd probably spend 120k pa, about 105k for a non-Emaar and 95k for a secondary tower.
JLT would be at around 80% of marina.
happy to expand if you have questions.
