Tuesday, August 17, 2010

International City units see less demand

Despite the drop in prices, at least majority of people are not too keen on investing in international city units, says a survey report by Emirates 24/7.

Atleast 91 percent of those surveyed have shown an aversion to investing these units largely due to infrastructure issues, apart from investor apathy.

The prices are likely to go down further, as nobody would invest until there are proper entry and exit gateways. Further, there is the parking issue and foul smell, said one of the respondent.

Another respondent agreed that International City needs to address the infrastructure issues to support the project. The prices will keep falling until this is met.

The poll findings revealed that at least 24 percent of the respondents believe that the drop in prices are yet to hit the bottom, and is bound to go down further.

Only 8 percent of the respondents agreed and expressed their willingness to invest in International City, while 2 percent of respondents said they may probably buy as the current prices are lower than the launch price, and that rentals could cover the investment. Another 4 percent agreed that International City offers good investment at low risk.

1 comment:

Alex Sam said...

This is really very shocking news about International city. There are many reasons behind its failure. I think this is the good time to invest there due to less prices. The administration of the international city must take some good action and introduce new strategies to hold and increase the value of apartments.