Property & Investment in Dubai: Your questions about the market

[first timer]

Originally Posted by Dubai_Steve

I this what happened to first_timer

Too much negativity can destroy the whole economy and often it is unjustified negativity. I blame the media for the collapse of the western economy.

Im still here my friend just sitting back and laughing about how the majority are living in a fantasy world

Dont worry as soon as the prices fall and fall they will, ill be back reminding you how you suggested I knew nothing


Me and mackie will be here to give therapy and guidance
after all its only money

[skdubai]

Originally Posted by larven

Of course it will. There are properties being advertised here in the UK that guarantee capital growth. Now theres a scam if I ever saw one, trying to con people into investing in a property market that is about to go pop. I hear more and more Dubai projects are being shelved or put on ice....the tipping point is coming if it hasn't come already. Many people are going to get badly burnt.

that was not even my point... my point is that we know there is a bubble forming, it is obvious and glaring us in the face, but instead of nipping it in the bud, people seem to be content letting it go and not worry about the consequences. This is what worries me!!

[Dubai_Steve]

But because it is Dubai it will be the world's largest bubble and will not pop until 2060

[AltinD]

Originally Posted by HappyLarry

Don't let AltinD get to you Richard. He does, occasionally, post some knob-head stuff.

Go easy there HappyHarry, you should know what short for Richard is, or was that your intention all along.

[Tom_Green]

I have a thread about Dubai in the German section. Any good news i can post? Anything that prooves that Dubai will not collapse and go down in the sand? I am tired of such claims.

[skdubai]

Originally Posted by Dubai_Steve

But because it is Dubai it will be the world's largest bubble and will not pop until 2060

If you are kidding, then Good one!! if ur not, then best of luck with ur investments!!

[first timer]

Originally Posted by Dubai_Steve

But because it is Dubai it will be the world's largest bubble and will not pop until 2060

He will need all the luck

The bubble will burst within 12 months and burst it will
Ill be there to support you, hold your hand and remind you

YOU HAVE BEEN WARNED what is going to happen

[malec]

Originally Posted by first timer

He will need all the luck

The bubble will burst within 12 months and burst it will
Ill be there to support you, hold your hand and remind you

YOU HAVE BEEN WARNED what is going to happen

Listen. You may be right but nobody's going to listen to what you have to say with the way you're saying all that stuff.
At the moment you sound like a typical conspiracy theorist, or a the end of the world as we know it doomer.
How about you post some facts and figures with your post so that whatever you say makes more sense.

[HarryKane]

Originally Posted by Imre

got by email:
Burj Views Tower B
Unit no. 2501
One bedroom
OP 899,888
Area 915 sqft ( 854 + 61 )
90% paid
10% on completion in Jan 09
Selling Price: 2.1 net to me
good deal?

Here's one even better:

Burj Views
1 bed
3rd floor
920 sq ft
Burj View
AED 1,750,000 net

I'll see if the seller will go even lower.
Are prices in freefall? I don't know, but personally, I would stick to completed or nearly completed property so you will be at least able to get rental income. Also, I'm hearing now that investors are having trouble making payments on U/C properties, which means that some of the smaller developers might not have the funds to complete construction.

[scoobudubai]

Originally Posted by noir-dresses

Well just don't get in trouble my friend, and you wont have a problem.

About free media, there's no such thing as free media in the west, we all know who control's all the media from North America, Wesern Europe, to Australia, New Zealand, and so, and so on, it's actually used as a tool to control power, so no thank you.

Some of you guys can try to rattle the cage, but as you can see it's not working.

Is everyone paying the land reg fee into their escrow account as legally advised, or into a stange account as not legally advised?

[HappyLarry]

Originally Posted by AltinD

Go easy there HappyHarry, you should know what short for Richard is, or was that your intention all along.

Well my Albanian friend.
I don't know Richard, so therefore it would be uncharacteristic of me to offend him in such a way. However, I can see how your mind works.
As for Richard, I have read his posts and I can honestly say that he comes across as much nicer person. You can read into this statement as you wish.

[foxy]

Originally Posted by smussuw

hmm, what an insult to the Emiratis, stealing our money in day light !

Where did he bring the money to own 16.3% of the bank I wonder?

"The hole calls the thief"

Well there is this cartel called OPEC which enriches lazy people who then think they are a lot smarter than they are. It gets worse, these very same lazy stupid people lord it over hard working people who make sacrifices to send money back home.

Not fair is it?

sorry for my english.

[IISinbadII]

Originally Posted by noir-dresses

Cash is KING, I rest my case

http://www.gulfnews.com/business/Ban.../10255900.html

The Shaikhs are out to rescue foreign banks, who thinks they would let their own economy and property crash?

[IISinbadII]

Originally Posted by foxy

Well there is this cartel called OPEC which enriches lazy people who then think they are a lot smarter than they are. It gets worse, these very same lazy stupid people lord it over hard working people who make sacrifices to send money back home.

Not fair is it?

sorry for my english.

If you had a gold mine, would you sell gold for cheap? If it wasn't for OPEC, the oil producers wont be in a position to bail out the world today.

[smussuw]

Originally Posted by foxy

Well there is this cartel called OPEC which enriches lazy people who then think they are a lot smarter than they are. It gets worse, these very same lazy stupid people lord it over hard working people who make sacrifices to send money back home.

Not fair is it?

sorry for my english.

[Ramin777]

Prices in Discovery Gardens have actually gone up since the past 4 weeks!
There may be a correction in the next 12 months, but I believe it's gonna be in offplan market and projects at early stages of construction (completion date 2011 onwards).
Let's not forget rents are still bringing handsome profits for landlords.

[dirtyharry1]

The bubble called Dubai is about to burst... not overnight, but slowly slowly... Property prices are completely down, the whole palm seems to be for sale, however 20-30% cheaper than before Ramadan according to Betterhomes. Remember that the average quality of the properties is very lousy.

A correction in the property market is definitely good for the country since the demand was driven mainly by investors and people that had to wash their money, it was not driven by people that invested to live here. This will also bring the inflation down, >15% is a joke for a socalled civilized country.

The slow down in rentals will follow, according to the German chamber of commerce there are many many companies complaining about the ridiculous high rents for lousy appartments to be paid in one cheque per year in advance which is as nasty as unique in the world. If the foreign companies start to move to other cheaper Emirates the landlords can try to rent their "exclusive" appartments to the fellows from India, Pakistan etc. Good luck.

[makerian]

Originally Posted by Ramin777

Prices in Discovery Gardens have actually gone up since the past 4 weeks!

I don't know where you're seeing your prices but if its GNADS4U then most of us agree that its a poor source to gauge actual prices at which property is being traded.

My own experience with Discovery Gardens is that 4 weeks ago, buyers were ready to purchase my Studios at 725K net to me. Today they aren't ready to buy at 700K. Multiple brokers I called have told me that buyers are scared at this point. Some were optimistic that this would change in a few weeks.

[High Times]

Originally Posted by larven

I hear more and more Dubai projects are being shelved or put on ice....the tipping point is coming if it hasn't come already. Many people are going to get badly burnt.

Originally Posted by docc

Which ones? Name three

Doc, sorry to blur those rose coloured specs of yours, but sooner or later your going to have to wake up from your dream buddy.

Nakheel are scaling back many projects as we speak, the most significant being Palm Deira.

Originally Posted by THE DUBAI GUYS

Published: 31 October 2008 20:44 GMT Author: Colin Foreman More by this Author Last Updated: 31 October 2008 20:44

Other Nakheel projects have been affected by the global credit crisis. Work on its multi-billion dollar Palm Deira project has been scaled back, and it is now unclear what its development strategy across its $100bn-plus portfolio will be in the coming months.

http://www.meed.com/news/2008/10/nak..._in_dubai.html

R

Doc, Your begining to sound like the Iraqi minister for information, Mohammed Saeed al-Sahaf, as he declares "The Americans are not coming" in front of a parade of US military hardware entering Iraq.

[first timer]

The day dreamers will never listen but deep down they know whats happening and half will be trying to sell as we speak

Your posts are spot on, I thought I was the only one who could see what is happening

The trouble is your posts will probally be deleted as some of the moderators dont like to hear these facts and simply delete.

It wont be long and the day dreamers will soon have their heads out of the clouds and probally very near the gutter.

Dubai has simply got too greedy too quickly

All they talk about is price and rent increases and now they have out priced themselves which is a shame. GREED

There are plenty of places in the world that companys can set up and they dont need to be dictated to by Dubai and greedy wanna be investors

There is no law saying that Landlords have to take 12 months rent in advance.
I would suggest monthly rent with a 3 month bond.

Its all going to come to a stop and will be a buyers and renters market

Dubai is an OK place but far too over rated and better places to live in the world in my opinion

Dont say I never told you so