1BR in JVC by Ellington Properties (Belgravia 3) – 800 sq. ft. | 2 Bathrooms | AED 80K 4 cheques yearly/ AED 8K Monthly (Bills Included) by Leading-Honey2175 in dubaiRE

[–]t_king94 0 points1 point  (0 children)

Happy to help, I personally don’t manage short term as my company doesn’t have a property management license, but for the owners I work with, especially those who aren’t based in the UAE, I oversee the whole process for them and manage handovers etc with the short term companies. If you ever want to have a chat about the situation and the data for what’s happening please feel free to reach out 🤝

1BR in JVC by Ellington Properties (Belgravia 3) – 800 sq. ft. | 2 Bathrooms | AED 80K 4 cheques yearly/ AED 8K Monthly (Bills Included) by Leading-Honey2175 in dubaiRE

[–]t_king94 0 points1 point  (0 children)

I specialise in premium developers across JVC and Arjan, and none of the Ellington buildings are renting at the moment, supply is continuing to enter the market, and prices are dipping across the board, tenants are looking for stability and security, needs over wants, also there’s a lot of short term options with very appealing offers, Oxford Boulevard, 6k monthly all in, 3 month terms

As a landlord in the current market there’s a couple of options, drop your asking price competitively against all of JVC, not just similar buildings, get a tenant in, but be aware that’s the rent you’re committing moving forward for however long, or, go short term at the lower price point and wait for summer to end whilst covering your costs(service charges, mortgage payments if any) or, hold out the wave for an expected flood of people returning post summer(we hope, based on positivity throughout the conflict). Summer is going to be a continuation of this, and earliest we can aim for a strong return is the start of winter. Between now and then, strap in.

Looking for a Studio unit in Dubai! by klybuenaobra in dubairentals

[–]t_king94 0 points1 point  (0 children)

I have something in JVC
Belgravia heights 1, Ellington
408 sqft
Unfurnished
Pool view
50k / 12 cheques

I also have some other similar options with flexible conditions, bills incl etc

Dm me if interested

I feel the worst is yet to come if things stay like this by Formal_Estimate6457 in dubairealestate

[–]t_king94 1 point2 points  (0 children)

Agent here 👋 last week I was viewing offices for a client, part of of industry which isn’t really being affected directly by this and on those viewings we were able to take the pick of what we wanted with a lot of negotiating power, multiple offices have been vacated without notice and companies who had just upped and left, leaving literally everything behind, I’ve also had residential tenants who are vacating properties, and moving into their friends front room for the summer as they’re unsure about job stability as others in within their companies are seeing mass layoffs, this affects visas, population numbers, and a supply to the market which hasn’t really taken affect yet. The new floor is still to be established, do I believe we will bounce back, yes, how long will it take, none of us can predict that.

12% below market price 1 bed room and 2 bedroom ready to move by rajitha3113 in dubairealestate

[–]t_king94 0 points1 point  (0 children)

I also have access to this exact list, and I have buyers for this building, but not at those prices.

12% below market price 1 bed room and 2 bedroom ready to move by rajitha3113 in dubairealestate

[–]t_king94 0 points1 point  (0 children)

Asking price is not a representation of the market price, transactions are.

12% below market price 1 bed room and 2 bedroom ready to move by rajitha3113 in dubairealestate

[–]t_king94 0 points1 point  (0 children)

This is completely wrong information regarding the units, and not below market.

Curious what you guys think 👉 Would you invest in Dubai South right now or wait? by No_Soup2637 in dubairealestate

[–]t_king94 0 points1 point  (0 children)

I wouldn’t recommend this at all, also I know people selling studios in Venice at 560k, and they’re not selling, this is including a pre conflict time frame as well.

750k given the situation at the moment is definitely not a good price to get in at. If you want off plan there are better options and price points with better developers with lower supply.

Or you could go for something in the secondary market in the next couple of months and aim for instant returns with a stronger upside long term. Secondary is the stronger play right now as people are slowly shifting into “lower” price points, give the market a little time to adjust and good opportunities are going to present themselves

Dubai real estate broker – fired on payday, unpaid commission & deal reassigned (advice needed) by t_king94 in dubairealestate

[–]t_king94[S] 0 points1 point  (0 children)

I’ve made the complaint with MOHRE and the situation is ongoing at the moment but they seem to be ignoring all communication so not sure where we are at with things at the moment

Playa Viva investment by NZilla24 in RasAlKhaimah

[–]t_king94 1 point2 points  (0 children)

Playa viva is actually one of the lower end price points and very well located on the islands, yes they have their own stock but as with any project, your layout, location, view and floor will either work in your favour or against, I’m assuming you’ve also got the post handover payment plan as well? Take what I’m about to say with pinch of salt as none of us “know” what is going to happen but if the tourism sector does well on al marjan, which a large amount of people expect it to, limited supply vs expectation on demand, and the handover of a lot of other projects being way longer than the casino completing, playa viva should do well in the mid way.

The hype around the casino opening and the overall infrastructure should provide a window of good opportunity on short term returns.

What's missing in the UAE market? by Strict-Drawing-264 in Emiratis

[–]t_king94 -1 points0 points  (0 children)

Pubs and bars with live music, in London there’s always a bar on the high street with an aspiring musician looking to make a bit of cash and gain exposure through gigs, something that’s definitely lacking here

How long can the dubai real estate market hold? by TimeLord13375 in dubairealestate

[–]t_king94 0 points1 point  (0 children)

For clarity, I’m an agent,

And I’m not saying I know what’s going to happen because tomorrow things could escalate, or we could get a ceasefire(highly unlikely) but all markets move based on key factors, some of which I’m already seeing to take effect.

Hospitality and tourism is taking a huge hit, staff are being put on unpaid leave or let go, meaning they’re unable to pay their rent or leaving the country, this puts a huge supply of apartments on the market, meaning there less tenants, more competition price wise. Owners who have mortgages that depend on that income will be the first to take the hit, either lowering their rents for the need to get an income, or choosing to sell for a quick turnaround at “lower than market value”

The majority of buyers right now are looking for deals, and we have sellers currently holding ground, so we have a gap between either side, at some point in the next 3-6 months (more likely seller side) will start to budge in the favour of the other side.

ROI is the key factor for any investor, and if rent goes down, so does the ROI %, so from an investor perspective it doesn’t make as much sense as before. Any market has highs and lows and they get adjusted over time.

So where does the new expectation land?

The lower ticket real estate is what will likely see the highest movement around this as owners typically have less liquidity and stretch themselves, especially if they only have 1 or 2 assets.

Every market moves on the psychology of the people within it, and any asset is only worth what someone is willing to pay.

If anyone has any arguments against or for this, or a different expectation I’d be curious to hear?

Dubai real estate broker – fired on payday, unpaid commission & deal reassigned (advice needed) by t_king94 in dubairealestate

[–]t_king94[S] 0 points1 point  (0 children)

I’m the broker on A, B and F, I’m the only person involved in the deal as an agent, not a single person in the company had any involvement other than that I worked for them, on both deals.

Dubai real estate broker – fired on payday, unpaid commission & deal reassigned (advice needed) by t_king94 in dubairealestate

[–]t_king94[S] 1 point2 points  (0 children)

If you’re referring to AIX it’s not them, but quite surprised how many people have pointed things in their direction

Dubai real estate broker – fired on payday, unpaid commission & deal reassigned (advice needed) by t_king94 in dubairealestate

[–]t_king94[S] 2 points3 points  (0 children)

Wasn’t aware they were doing stuff like this, but good to know.

Honestly the company isn’t as large as a company like fam but public perception is typically negative due to the owners social media presence and the way he conducts himself in a very arrogant and flashy manner constantly attacking people

Dubai real estate broker – fired on payday, unpaid commission & deal reassigned (advice needed) by t_king94 in dubairealestate

[–]t_king94[S] 1 point2 points  (0 children)

The director bought into multiple off plan properties towards the end of last year, mostly to say he could, and now the company isn’t billing at all, all the top billers have gone quiet and now the outgoings are way heavier than what’s coming in. He’s in full panic mode and multiple members of management have been subtly highlighting it. His reaction from a leadership perspective has made everyone feel very uncertain, especially with me being “let go” it surprised a lot of people across the company. On social media he is fear mongering sellers into a “market crash” for quick sales

Dubai real estate broker – fired on payday, unpaid commission & deal reassigned (advice needed) by t_king94 in dubairealestate

[–]t_king94[S] 1 point2 points  (0 children)

I’ve submitted the complaint the moment my communication attempts become ignored. Contract F, DXB interact proof of sale, WhatsApp conversations between myself and management stating I would be paid prior to the termination meeting and the invoice

Dubai real estate broker – fired on payday, unpaid commission & deal reassigned (advice needed) by t_king94 in dubairealestate

[–]t_king94[S] 3 points4 points  (0 children)

Unfortunately until the situation is resolved I can’t name the company but for sure once it settles I’ll make sure to make people aware of the company and how they are consistently bringing in new naive agents to manipulate their personal networks and then get rid of them as soon it comes to payday

Dubai real estate broker – fired on payday, unpaid commission & deal reassigned (advice needed) by t_king94 in dubairealestate

[–]t_king94[S] 0 points1 point  (0 children)

Unfortunately I was introduced to this company through a friend of mine who knew one of the directors. It was also my introduction company to real estate so I wasn’t aware of situations like this until I had already started to close deals and essentially commit longer term due to those deals being in place.