Here is the updated price list for appartment+parking + floor charges which will come into effect on the 15th of november. Just got it today in sweethomes dubai. Enjoy watching your money growing!!! :-))
Though the prices are quoted as around 595 per sq. ft. The effective price works out a lot more.
Initially the parking spaces were sold for 25000 AED and now it is 60000, which means 35000 more.
For an apartment of approximately 1000 sq. ft. the additional load per sq. ft. of increase in price of
parking comes out to AED 35/-
Similarly, if you opt for the top floor (i.e., 25th) the load for higher floor becomes 23 times 2000, which is
46000 AED. For floor charges the load per sq. ft. for 1000 sq. ft. apartment comes to AED 46/-.
Thus, with increased price of the parking and if one wants to buy the highest floor the Effective Price per
sq. ft. would be AED 595 plus 35 plus 46, which come to 676. Any takers?
Sweethomes have increased prices alright.....but did they also give a likely completion date?!
How does AED 676 per sq. ft. compare with AED 425 per sq. ft. which is the price at which Lakeview Tower 4
one-bed is on offer in re-sale at the top of this page.
A whopping difference of AED 251 per sq. ft. Any comments / explanations?!
When you want to resale will be approx. 500/- or little less.
If you are desperate, there is no limit can go down as much as you want. Also depends on how much you purchased. Lets say you bought it for 300/- and you resale it for 400/-, you get 100/- premium.
Make sense?
the only reason resale value is far lower at the moment is three reasons.
No financing features!
More initial capital required!
Lack of education for investors, buyers or sellers!
Any yet resale or launch projects gets you the equal amount of Quality.
As most official people say, that prices will go up to 700 to 750 by the end year.teh new prices are not yet officially announced in the new updated prices for sweet homes?
Sweethomes declared they sold out most B02-B09 about a year and half ago. They were left very few unsold apartments for whatever reason. Logicly, these unsold and unwanted few flats (maily first floors) would require some discounting so they could get rid of them. So, what I do not undestand is why they keep increasing their prices when they unable to sell them? I think their are some other strategy beyond demand and supply that drives these prices. Any comments?
Unsold units are unsold because they want to have some space to play around in the future. they got over 300+ units and to keep 30+ units unsold is what the usual developers do to make more cash later.
They launch today and sell 250 out of 300 units. Tommorrow the price per square feet increase to another 200/- and they got 50 units unsold! Thats money making. Good for them.
I think there are some confusions in this market at the moment!
This is what it is today..
You got cash then u bargain and this is the time to do so.!
If you r broke then u offer discount!
Ajman Properties in my sincere opinion is Not so good any more for short term, but if you are buying it to keep for another 3 to 4years its solid as a rock.
i bought it for short term and with this Global crunch! I shall give it back to the developer at 10% less what i paid so far, because i simply cant continue to pay for my installments and i couldnt wait for any longer.
I am in Fiax seeing the difference in reasle and Primary price, If a buyer has a cash why he should not go for ready apartments in Ajman Down Town like Al Khoor, Rashidya or Naimiah which are ready to move in only problem is no elctric and water connection yet. One week back I called the dealer he said that 796 Sq feet Flat is available in 380,000, it becomes 475 . But he was also saying that price may further come down till January 2009 to 425 Level. Now when quick return facility has gone and visa and electric/ water supply issues are exposed then it is difficult that market will sustain the prices mentioned above.
Prices can never drop to 425/- with completed projects in Ajman Downtown!
Most freehold projects in Downtown ready to move in has electricity and water! Also, demand is strong in Downtown, the only problem is that the completed projects in Downtown are poorly finished quality. Horizon towers and Falcon Towers which are going to be ready very soon, will be far more better than the already finished ones with no comparison!
Electricity and water is provided
Visa is back on track
Things look good, but quick return is over due to oversupply in the market with low quality project finishing. In turn, takes more time to sell and in turn takes more time to purchase because now we have choice unlike in the past!
Good news is that, there are more positive picture than negative for the future of Ajman. So lets all pray day n night.
Just imagine widening of Emirates road in Sharjah national paint road is going to make prices of EC increase by 100%!! No traffic in the very near future is a collective vision set by Sharjah, Dubai and Ajman shiekhs! Came on the news too, cant recall though.
Is there a possibility that due to the Credit Crunch, and drying up of easy funds, that some of the Projects already
announced may be delayed or revisited?
How many of the Projects announced on Emirates Road ( I assume there are about 6-7) have already started construction?
From the pictures posted on this Forum, seems only EC and 1 or 2 more have started construction.
possible that EC will be completed much ahead of the others . Also, possible that some other Projects may be
delayed / redrawn.
As the UAE Economic situation is expected to be positive, Ajman Govt is making its own growth, and Villa clean up in Dubai could lead to higher demand in Ajman, possible that in about 2 years, by Completion, EC could fetch good resale price as well as good rental return.
looks like, as many peopleare cancelling the bookings and as per some insiders, the developers are revising thier plans to down size the projects, and changing the Plans, As 90% projects still ahve not started even upto ground leveling stage. But the Towers who are midway are not giving facility to cancel so easily.
This is good that cooling of market started before the things actually materlized, Now people who are cancelling will not be losing lot of Money may be 10%. So if your developer is slow it is blessing in disguise as you may get couple of more moths to see which direction markets go and quit bearing mild loss.
Mansoor
Has anybody visited the site lately for Paradise Lakes B2-B9? The construction snaps on the Paradise Lakes are showing quite a progress.
Regards. :)
Effective Price!
Though the prices are quoted as around 595 per sq. ft. The effective price works out a lot more.
Initially the parking spaces were sold for 25000 AED and now it is 60000, which means 35000 more.
For an apartment of approximately 1000 sq. ft. the additional load per sq. ft. of increase in price of
parking comes out to AED 35/-
Similarly, if you opt for the top floor (i.e., 25th) the load for higher floor becomes 23 times 2000, which is
46000 AED. For floor charges the load per sq. ft. for 1000 sq. ft. apartment comes to AED 46/-.
Thus, with increased price of the parking and if one wants to buy the highest floor the Effective Price per
sq. ft. would be AED 595 plus 35 plus 46, which come to 676. Any takers?
Sweethomes have increased prices alright.....but did they also give a likely completion date?!
Dear , you should include
Dear , you should include only 24000 for the 25th floor apartment, because you have already paied 1000 per floor intialy.
correct!
I take your correction. Still the price works out to 652 AED per sq. ft. for a 1000 sq. ft. apartment.
Re-sales.
How does AED 676 per sq. ft. compare with AED 425 per sq. ft. which is the price at which Lakeview Tower 4
one-bed is on offer in re-sale at the top of this page.
A whopping difference of AED 251 per sq. ft. Any comments / explanations?!
Yes!
Sweet homes sales is approx 600/-
When you want to resale will be approx. 500/- or little less.
If you are desperate, there is no limit can go down as much as you want. Also depends on how much you purchased. Lets say you bought it for 300/- and you resale it for 400/-, you get 100/- premium.
Make sense?
the only reason resale value is far lower at the moment is three reasons.
No financing features!
More initial capital required!
Lack of education for investors, buyers or sellers!
Any yet resale or launch projects gets you the equal amount of Quality.
new prices for sweet homes
As most official people say, that prices will go up to 700 to 750 by the end year.teh new prices are not yet officially announced in the new updated prices for sweet homes?
Quite Strange - Paradise lakes
Sweethomes declared they sold out most B02-B09 about a year and half ago. They were left very few unsold apartments for whatever reason. Logicly, these unsold and unwanted few flats (maily first floors) would require some discounting so they could get rid of them. So, what I do not undestand is why they keep increasing their prices when they unable to sell them? I think their are some other strategy beyond demand and supply that drives these prices. Any comments?
prices
The transfer fee they charge on resale is based on current developer priceThis is an extra money for developers.
Unsold units!
Unsold units are not unsold due to no demand!
Unsold units are unsold because they want to have some space to play around in the future. they got over 300+ units and to keep 30+ units unsold is what the usual developers do to make more cash later.
They launch today and sell 250 out of 300 units. Tommorrow the price per square feet increase to another 200/- and they got 50 units unsold! Thats money making. Good for them.
I
^^
I think there are some confusions in this market at the moment!
This is what it is today..
You got cash then u bargain and this is the time to do so.!
If you r broke then u offer discount!
Ajman Properties in my sincere opinion is Not so good any more for short term, but if you are buying it to keep for another 3 to 4years its solid as a rock.
i bought it for short term and with this Global crunch! I shall give it back to the developer at 10% less what i paid so far, because i simply cant continue to pay for my installments and i couldnt wait for any longer.
I am In Fix about prices
I am in Fiax seeing the difference in reasle and Primary price, If a buyer has a cash why he should not go for ready apartments in Ajman Down Town like Al Khoor, Rashidya or Naimiah which are ready to move in only problem is no elctric and water connection yet. One week back I called the dealer he said that 796 Sq feet Flat is available in 380,000, it becomes 475 . But he was also saying that price may further come down till January 2009 to 425 Level. Now when quick return facility has gone and visa and electric/ water supply issues are exposed then it is difficult that market will sustain the prices mentioned above.
^^
Prices can never drop to 425/- with completed projects in Ajman Downtown!
Most freehold projects in Downtown ready to move in has electricity and water! Also, demand is strong in Downtown, the only problem is that the completed projects in Downtown are poorly finished quality. Horizon towers and Falcon Towers which are going to be ready very soon, will be far more better than the already finished ones with no comparison!
Electricity and water is provided
Visa is back on track
Things look good, but quick return is over due to oversupply in the market with low quality project finishing. In turn, takes more time to sell and in turn takes more time to purchase because now we have choice unlike in the past!
Good news is that, there are more positive picture than negative for the future of Ajman. So lets all pray day n night.
Just imagine widening of Emirates road in Sharjah national paint road is going to make prices of EC increase by 100%!! No traffic in the very near future is a collective vision set by Sharjah, Dubai and Ajman shiekhs! Came on the news too, cant recall though.
Possibility of reduction of Supply?
Is there a possibility that due to the Credit Crunch, and drying up of easy funds, that some of the Projects already
announced may be delayed or revisited?
How many of the Projects announced on Emirates Road ( I assume there are about 6-7) have already started construction?
From the pictures posted on this Forum, seems only EC and 1 or 2 more have started construction.
possible that EC will be completed much ahead of the others . Also, possible that some other Projects may be
delayed / redrawn.
As the UAE Economic situation is expected to be positive, Ajman Govt is making its own growth, and Villa clean up in Dubai could lead to higher demand in Ajman, possible that in about 2 years, by Completion, EC could fetch good resale price as well as good rental return.
Any comments on the above view?
Blessing in Disguise??
looks like, as many peopleare cancelling the bookings and as per some insiders, the developers are revising thier plans to down size the projects, and changing the Plans, As 90% projects still ahve not started even upto ground leveling stage. But the Towers who are midway are not giving facility to cancel so easily.
This is good that cooling of market started before the things actually materlized, Now people who are cancelling will not be losing lot of Money may be 10%. So if your developer is slow it is blessing in disguise as you may get couple of more moths to see which direction markets go and quit bearing mild loss.
Paradise Lakes B2-B9
Mansoor
Has anybody visited the site lately for Paradise Lakes B2-B9? The construction snaps on the Paradise Lakes are showing quite a progress.
Regards. :)