Quote:
Originally Posted by uaerealdeal
I agree with you that there might be some apt available at the prices you are saying but all these are distress sales from people who have overleveraged, what prices I was talking about are new sales like for example Canal Residences West in Dubai Sports City they are quoting prices in range of above 1300/sqft (please do correct me if i am wrong)
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Gashead,
Pricing can be atributed to many factors, the important thing is to follow trends and averages, sometihng I do. A 1 bed for example is more expensive than a 3 bed per square foot, so it would also depend on what is being sold. New pricing is in the region quoted, so if you can pick up a distressed sale (in the right location) you will do well. As the development progresses you will see the prices raise further. the 1400 to 1500 range per square ft is a conservative figure. I would not be suprised to see some development sales in the region of 1750in the 1st and 2nd qtrs of 2009.