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Need the opinion of our real estate members: Future of Greens?

12

Posts

EW NEWBIE

Latest post on 24 November 2014 - 10:11

We are planning to buy a Villa in Dubai and with our budget (+/- 6 M), we can either go for a smaller villa in Jumeirah Park or a bigger one in Green Community ( chose these 2 neighborhood, since have to go to AD daily). I love GC, despite being a bit remote, but somehow I think with so many new, better located compounds popping up, we are not gonna be experiencing any increase in the price of equity there, it has somehow plateaued and even now you see listings on Dubizzle staying for months. Other say with Expo 2020 location close to this area there is gonna be a revamp. please any feedback appreciated !

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2584

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EW EXPERT

Latest post on 26 November 2014 - 15:56

Not necessarily, there are some people who have lived/worked here for 30 ish years who welcomed the fact they were able to buy property as it gave them a chance to direct rental payments to mortgage payments instead. We don't even look at the market fluctuations as it really doesn't matter unless you are buying/selling at that point. We may only be 30 days away from leaving, however if you've been 30 days away from leaving for 30 years then it makes a difference! Buying here is a very personal decision based on numerous factors - it's very difficult to advise someone for/against. OP, freehold v leasehuld would definitely impact our decision as I believe especially in the areas you are looking in, there may still be some issues around title deeds of the leasehold properties. May be worth looking into.

394

Posts

EW EXPLORER

Latest post on 26 November 2014 - 12:55

Leasehold or freehold, it hardly matters - everybody is always only 30 days away from being kicked out of the country. And I've yet to see evidence that freehold means you actually own the land outright anyway. Agree 100 per cent. Leasehold or freehold - you do not, and will not, own the land your property is built on. As owners of Springs villas discovered when the new road was approved ! I have never understood why people buy here when we have no permanent right of abode. Your right to stay here is tied into your job/visa. Without that, you have to leave. 30 days is only just long enough to wrap everything up and leave when you have no ties, but having to sell property in that time? No thanks. Then again some people manage to stay in UAE for 30 + years along with extended families plus the kitchen sink! I guess these are mostly people with their own businesses.

274

Posts

EW NEWBIE

Latest post on 26 November 2014 - 11:52

Leasehold or freehold, it hardly matters - everybody is always only 30 days away from being kicked out of the country. And I've yet to see evidence that freehold means you actually own the land outright anyway. Agree 100 per cent. Leasehold or freehold - you do not, and will not, own the land your property is built on. As owners of Springs villas discovered when the new road was approved ! I have never understood why people buy here when we have no permanent right of abode. Your right to stay here is tied into your job/visa. Without that, you have to leave. 30 days is only just long enough to wrap everything up and leave when you have no ties, but having to sell property in that time? No thanks.

Madge_Gustard59558

841

Posts

EW GURU

Latest post on 26 November 2014 - 09:35

Leasehold or freehold, it hardly matters - everybody is always only 30 days away from being kicked out of the country. And I've yet to see evidence that freehold means you actually own the land outright anyway.

2

Posts

EW NEWBIE

Latest post on 25 November 2014 - 16:15

Jumeirah Park is a class of new residential villa community established by Nakheel. These spacious villas are superbly located at the core of Dubai's prime freehold areas. The progress is spread over 350 hectares (3.5 square kilometers) and the total number of properties within the community is approximately 2000 villas. Green Community is an excellence development by Properties Investment LLC, a joint venture Company between Union Properties PJSC and Dubai Investments PJSC. Green Community is an ideal option for the first time buyer – you get great value for money, because it is more affordable due to the Leasehold but there is no need to concession superiority, space, comfort and total calmness. edited by ShirelyA on 25/11/2014 <em>edited by ShirelyA on 25/11/2014</em>

49

Posts

EW NEWBIE

Latest post on 25 November 2014 - 12:20

Agreed, it had plateaued everywhere. Budget would get you the luxury villas in GC or up to 4 BR villa in JP (not really small with 4300 sq. ft). Each would have its pros and cons and really depends on your priorities. JP pros would be location and accessibility which is excellent, new houses – yet they have their own issues, and JP is free hold development. Cons; not gated community, lack of communal areas (yet slowly changing – kids parks have just started to come up. On green community pros would be, would say the best community and community feel in Dubai, spacious parks (great attention to maintenance is certainly needed), quite safe environment for toddlers and kids. On the cons; traffic and traffic and traffic out and in to DIP, it is quire remote as you rightly said, it is a leasehold, district cooling systems – quite expensive. Good luck!

12

Posts

EW NEWBIE

Latest post on 25 November 2014 - 09:26

The "Greens" in your headline and the "Green Community" are 2 different places! Yes, you are right, I meant Green Community

2043

Posts

EW EXPERT

Latest post on 24 November 2014 - 12:17

Investor buyer have disappeared off the secondary market hence so many villas and apts are for sale. The Green Community round about is still a bottleneck most days whereas you should be able to get from Jum Park to the SZR quite easily using that new road the 59.

345

Posts

EW EXPLORER

Latest post on 24 November 2014 - 12:12

everywhere has plateaued...6m should buy you substantially more than a small villa in JP.

394

Posts

EW EXPLORER

Latest post on 24 November 2014 - 11:29

The "Greens" in your headline and the "Green Community" are 2 different places!

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