For sale, an apartment with installments in City Tower, one bedroom and a hall

1. Location: City Towers
Importance of location:
A prime location in the towers area, where modern facilities and integrated services are available. Ideal for living or investing, especially if it is in a vital area.
2. Total price: 360,000 dirhams
Payment details:
Paid amount: 138,000 dirhams.
Remaining amount: 200,000 dirhams (mostly installments).
Cash required: 160,000 dirhams, including the parking value.
3. View: Side
Advantage of side view:
It is not the main view, but it adds value to the property, especially if it overlooks beautiful views such as streets or open spaces.
4. Additional advantages: Parking
Importance of parking:
Having a parking space is a great advantage, especially in crowded areas, as it increases the comfort of the resident or the rental value.
Apartments with parking are usually sold at a higher price compared to apartments without it.
5. Payment Condition: Investment Opportunity
Since a large portion of the total price has been paid (AED 138,000), the buyer will only pay AED 160,000 to get the apartment.
What next?
The remaining AED 200,000 can be paid in installments (if the payment system is available with the developer or the responsible party).
6. Potential Cost-Benefit Analysis:
Total cost for a new buyer: AED 160,000 cash payment + AED 200,000 remaining = AED 360,000.
Potential Rents:
If the apartment is currently rented or rentable, it may generate a good return, especially with parking.
The average annual rent for a one-bedroom apartment with parking in similar areas may range between AED 25,000 to AED 35,000.
Tips for Buyers:
Check Contracts:
Check all contracts related to the apartment and parking.
Make sure the details of the remaining installments (interest, duration, payment terms) are clear.
Property inspection:
Visit the apartment to assess its condition and build quality.
Negotiation:
There may be room for a cash reduction in the asking price.
Financial planning:
Ensure that you can pay the remaining installments (AED 200,000) on time.
Market valuation check:
Compare the price of the apartment with similar apartments in the same area to ensure that the offer is suitable.
Conclusion:
This apartment looks like an attractive opportunity with a reasonable total price (AED 360,000) with a good down payment (AED 138,000) and parking included. If you are looking for a real estate investment or a home to live in, this could be a good deal, but make sure to check all the details before completing the purchase.

Property details

Property Type

Apartment

Property Size

757 sqft / 70 sqm

Bedrooms

Bathrooms