Quote:
Originally Posted by DoBuy
Hello PGuru,As someone who studies the market,I have an appartment ready in 2 months.Am I best to rent or should I sell cos by the end of the year there will be oversupply and the market will come down?
|
Hi,
Before one can answer this it all depends on:
- The Development name
- The Location / Area
- The Apartment characteristic (sea facing, corner, etc..)
- The original cost vs. expected price
- The situation / price / progress of neighbouring developments
- Is it near a Metro station - These properties will be the most sought after soon
- Your long-term plan. Was this an investment or a short project? If short project then it is good to sell and re-buy
- I do not think the market will not crash so soon as Major projects are still to complete (Palm Deira, World, Burj Dubai, Business Bay, etc..) so there's a lot to look out for still although many are nearly sold out (but there's the secondary market aswell). There is however chances of the Market slowing down as has been the case with some developments.
Without the required info as mentioned above I can tell you generally you are better off selling and making a good return provided at this critical stage provided it's not one of the properties which is sought after (such as near Metro, Business Bay, etc....) which requires further investigation as to future value.
I hope this helps. Sorry I could not say more with the info you gave.
P.S If you wish to buy again I could reccomend a few developments and even get you in touch with a few good agents. There are a few good opportunities for ready-made apartments with pretty much guaranteed good rental rates if you want to play it safe in the future.
Thanks,