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General Advice (Buying) questions and answers. All your General Advice (Buying) questions answered by our experts and thousands of other members. Get professional General Advice (Buying) answers to your questions. Get started by asking a new General Advice (Buying) question now.
Novi
Beginner
( 17 posts )

[2 Answers]
Hi there,
I am interested to invest for a unit apartment in JLT. And Id like to get your opinion about which unit more profitable and rented easier (studio, 1BR or 2 BR)?

According my reading in JLT there are 3 different annual charge (Master community service charge, building service charge, car parking service charge) if anyone of you have some rough idea about the above charge specifically for O2 and Gold Crest View2 tower, please let me know.

952 days ago In General Advice (Buying)
Arub
Senior Authority
(642 posts)
Hi Novi,

I would really appreciate your decision to invest in JLT and as far as you have asked our opinion, I would suggest you that any investment in this area is profitable. Any type of apartment (studio, 1BR, 2BR) can be rented out easily because despite recession, the JLT properties are always in demand. Therefore, the investment entirely depends upon your budget and discretion.

Coming to the other part of your question, you have asked about different annual charges. Mr. Zeeshan has recently told you that the Annual Service charges for O2 Residence building which covers all the things mentioned above is AED 10.5 / Sq.ft.

Hope it helps you.

Regards,
Arub!
951 days ago 

Zeeshan Khan
Senior Authority
(731 posts)
Dear Novi,

As far as the service charge is concerned, as I mentioned before the annual service charge is AED 10.5 / Sq.ft. Now I am not certain whether it includes all the different charges as mentioned by you or cover only one of the charges. Its best to check with the building maintenance department or even the guard at the reception to verify what the actual charge is.

Regarding the investment, first of all you need to realize what kind of market you are dealing with. Its no longer an investors haven and its definitely a long term market. At the moment the most in demand apartments are 1 bed as these have the quickest turn around in terms of renting out and fetch a rental yield of 5 to 10% which is way above the rental return you would expect in countries like UK or USA.

Studios were and are always primarily purchased by investors and in a booming economy due to high tourism and investment in different corporate sectors remain in high demand in terms or rent and always fetch a good capital gain. However in a sluggish economy and limited investment, one beds become affordable in terms of rent and income earners are usually people with families, thus they prefer one bed over studios.

Hope this helps and all the best with your investment.

Regards,
Zeeshan Khan
951 days ago 

(2 Answers)
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