Quote:
Originally Posted by mpat
I spoke to a developer last week and discussed this point,they was saying that they themseles does not know why is it becoming so expensive here? he mentioned an example of another developer selling at 1800 PSF and that is the reason we increased prices for our developement.But he agreed that prices will correct a little bit.So , what I feel is it is based merely on speculation and nothing else.Some part is played by price hike and dollar etc etc etc but not this much.
|
Unlike other markets, Dubai does not have an index, a sort of a meter to indicate previous prices anf trends.
The prices have now become more of a competition between competitors. Markets are over heated in my opinion and there will be a correction soon.
Deals are available in the market, but all in the secondary which has huge premium implications.
One needs to be careful when buying. Keep your money ready, very soon we will be having distress sales around the corner.
My next investment will be a commercial from the secondary market and of course a distress sale.
Regards
Roshan