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United Arab Emirates - دار زايـــد The exciting new world in Dubai , Abu Dhabi and other Emirates



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Old November 5th, 2004, 11:51 AM   #1
arfie
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Too many buildings

Arent there going to be too many buildings in Dubai which will mean that alot of apartments are going to be left empty. This will dissapoint lots of people that have invested in dubai to rent out there apartments.
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Old November 5th, 2004, 12:09 PM   #2
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Well, if they bought just to rent them, is their problem.

Is common logic if you rush to take from constructor he'll built more, thinking that there is a big demand.
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Old November 5th, 2004, 12:14 PM   #3
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Well, so far most of the things of which the outside world predicted that they wouldn't be feasible, Dubai managed to make them a success. I hope that the people who are responsible for this are just as wise to decide when it is time for development to slow down for it's obvious the party won't last forever. Building a third Palm Island doesn't sound like a sign of that in my opinion, but then again, the city hasn't failed to amaze me yet. We'll see.
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Old November 5th, 2004, 12:31 PM   #4
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arfie, tower developers themselves have already admitted there will be over supply of apartments in the next few years, so good if you are buying to live in one, but not if you're an investor
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Old November 5th, 2004, 01:35 PM   #5
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well, in the end i think everything will work out fine
with the dramatically increasing population more residential units are necessary
and don't forget, some of them are also hotels and office towers
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Old November 5th, 2004, 07:00 PM   #6
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Well I have bought 2 apartments in the Goldcrest. A 1 bedroom and a 2 bedroom with lake views. I have bought the 2 bed to rent out and as a holiday home but the 1 bed purely for renting out. I think im gonna have to sell the 1 bedroom at a premium otherwise im gonna struggle in the long run.
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Old November 5th, 2004, 07:41 PM   #7
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Have you heard of the new law they are putting through? Buyers can't sell within the first two years of purchasing or something similar.
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Old November 5th, 2004, 10:27 PM   #8
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They havent released that law yet and I cant see that law applying to properties bought by people in the past. The problem is here in the UK when ever you phone an agent or a real estate they tell people your practically guaranted rent in Dubai in particular Marina and Jumeria Lake towers so people are rushing into buying.

To me it seems alot of the apartments in the Dubai Marina and Jumeria Lake Towers will be left empty in particular those which are not in such a good location.
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Old November 6th, 2004, 12:00 PM   #9
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its ok when the bottom falls out of the market i will offer to buy each aparment for the fine sum of dollar
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