Few willing to buy into International City

An overwhelming majority - 91 per cent of those surveyed in the Emirates 24|7 Poll - have shown a marked aversion to investing in International City units, despite reports saying that the prices there have dropped to lower than what was on offer during the launch itself.

Apparently infrastructure problems, apart from seeming investor apathy, are the major factors propelling people's decision not to invest in the project with a massive 67 per cent - or more than a third - saying they will not touch the place,

"The prices will go down further as nobody will invest until there are proper entry and exit gateways. Parking is also a problem besides the foul smell," says Shakir, writing in to Emirates 24|7.

Syed Hussain adds: "International City needs to address the infrastructure needs to support the project. As long as these are not addressed, the price will keep falling."

This is in keeping the with Poll findings which showed that almost a quarter - 24 per cent - believe that the price drop down has not touched bottom yet, and is bound to go down further.

The developers of the project would be pleased with the more than 8 per cent of the respondents who said they are willing to invest in International City.

Two per cent each of the respondents said they may buy because current prices are lower than the launch price and that rentals would cover the investment. Another 4 per cent said International City currently offers a good investment at low risk.

Poll: Will you invest in International City units?

Yes, they are selling below launch prices - 2%

Yes, it is a good investment at low risk - 4%

Yes, rentals will cover my investment - 2%

No, prices are bound to fall further - 24%

No, I will not touch the place - 67%

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