Quote:
Originally Posted by georgihh
The supply is starting to speed up; most of the International city flats will be handed over during the year,
The delivery of Discovery gardens will start very soon
Only those 2 projects will delivery 30000 flats another 30000 to be delivered from various projects.
60000 thousands flats in one year.
That’s 200000 middle class people.
That’s 4 times more people (from the above category) immigrating to Dubai every year.
Or that’s 25% of the Dubai population (not counting the people with less income).
How long the investors can keep the flats empty – I say 6 months
And if they start selling at any cost the future development will hang over the economy will slow down and will take at least 3 years for the market to recover.
So good luck everybody and expect some great deals during the year
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I am not so sure about 2008. Yes, if all the projects completed on their actual date, it would have been true. However, all those projects that were slated for 2008 are only going to be ready mid to end 2009. So I would think that 2010 is the year when the market will correct. Don't expect drops of 20-30% because I don't think that will happen, not everywhere, only in places that are too inflated at the moment.
Then again, what do I know, just the same as you. It is all about opinions, otherwise EVERYONE would be a smart investor.