Hi, Are the villas currently sold in Dubai Springs and Jumeirah Village Triangle freehold or leasehold? Does anyone know roughly how much the monthly utility costs are for a 1Br or 2BR Villa? Many thanks in advance, this is a great community btw!
In my opinion 1 million spent on a villa is a much better option as compared to an apartment, especially in terms of investment and the reasons for this are many.
Spring villas is a community with its own culture, facilities, ambiance and life style, whereas an apartment life is limited to one building and no perks of other community facilities are available.
On average families prefer to live in villas as compared to apartments, especially when we are talking about families with children. Income earners for families fall in the higher pay bracket and can afford to spend more when it comes to buying or renting.
Number of villas in Dubai are much fewer as compared to apartments and hence the higher demand for villas.
Rental returns for both the properties as of July 2011 are pretty much the same and fall in the bracket of AED 80K to AED 100K per year, however this hasn't been the case in the past. Renting out a villa has always been more expensive as compared to most apartments and hence better returns for the property owner. As the market picks up, a villa will always fetch better returns as compared to an apartment.
Lastly, if you buy a property for 1 Million AED, you are eligible to apply for the residency visa, whereas you don't have this option for properties priced lower than 1 million.
Hope this helps and all the best in your decision making.
For a 2BR villa, you are looking at an average cost of AED 2000 per month depending on your usage. This cost includes maintaining the garden, air conditioning, electric bill and water usage. Utility bills in summers are quite high as compared to winters. Also if you are careful and utilize your resources efficiently, you can end up saving AED 500 per month or even more.
Would you say on balance that a 1 Mio AED spent on a 4E 2BR villa in Springs will have a greater retrun on the invesment than 800 K in a 2BR in JLT? What would be the likely annual rentals for both?
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