Current market value per Sq.Ft.
First of all my sincere thanks to the people behind this website. I think this is an excellant way to stay in touch, specially for those who are not present in UAE. This is my first posting on this site, hence the question is quite straight forward.
I have a 2 bedroom apartment (facing lake) on 24th floor. I have heard a lot about the recent price fluctuations, and would like to have your feedback on some questions;
a) what is the expected current market price per square feet in Dirhams.
b) are there any transactions happening in the market.
c) how does future looks like.
Look forward to hear from you all. Wish you all happy new year.
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ahsanaali
Hi;
The truth there is no buyers in the market or a very small % of investors who buys in cash-- but the price must be very low. I have apartment on 24th floor just 1bedroom. Trying to sell for 530dhr/ft no interest at all. Prognoses for future nothing good: no electricity or water will be installed in these buildings. If the developer will finish project on time still You have to wate for years for water and electricity to be build.
Sada but thats true. Try to get money out as quick as You can.
Good luck
Regards
its not all doom and gloom
Its not that bad. In the long run, you will do well if you have a freehold property in Ajman.
I sold one of my 2-bed apartment in emirates city at a price of 475 dhiram/sqft earlier this month. When selling in this current market, your price must be realistic. I have another 2-bed and a 3-bed in emirates city but will hold on to these until the global crisis is over and may sell 1 of them then when I should get 550-600 dhiram/sqft.
Yes there will be a shortage of electricity, etc, in the short term, however, the main developer will have backup generators for all buildings.