Quote:
Originally Posted by stumbled
georgi, u spoke too soon, the fed cut the rates yesterday and i really didn't expect them to be cut so soon. This means the dollar has dipped even further taking the dirham with it. Today £1= $2.0789 AND HEADING TOWARDS THE PREDICTED 2.1 BARRIER AND FURTHER.
What will this mean for Dubai's market, well the mortgages are becoming cheaper slightly but ur investment has devalued considerably as the dollar has slid. This also means US ECONOMY is in a very bad shape and they don't want to admit it but i say its in reccession, this means bad news for the world.
Has anyone checked what $100k can buy you in florida? well, a four bed detached house with a swimming pool, now would you buy a studio in Dubai or a 4 bed new built house with a pool?.....still time...CUT AND RUN.
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Hi,
Nice chatting to you
All of your comments make sense
But
If I sell now I might regret after some time
The same scenario happen to me in South Africa
I bought a flat and the prices didn’t change for 5 years
I was lucky I didn’t sell the flat during that period. Unexpectedly the price tripled in a period of 3 years and I sold the flat, paid my bond and end up with a lot of cash.
After that I bought in Dubai.
What I want now is to double my money and I am not far way.
My total spending for the studio exclusive of the service charges for the first year is 252000 DHS I have bought the flat July 2005
I am getting a rent since April 2007 - 38000.00 DHS
If I sell the flat for 420000.00 net august 2009 I will exactly double my money and I will
End up with 500000.00 DHS.
PS. The rent from April- July 2009 will cover all the service charges and extras
As a summery I will double my money in 4 years and than cut and run
What do you think should I sell now or stick to the plan?
Please don’t calculate the rate exchange and the interest rates as I had $ cash