Quote:
Originally Posted by DoBuy
With regards to who will fill up these properties.In the short term,from now - 2010/11,
I think there will be a steady flow of people moving to Dubai,maybe not enough to fill the units so there will be a price correction.
Then from 2015
onwards,once the metro and many of the amazing projects are finished and many almost finished,Dubai will be an amazing place and people will flock there.This will push the prices back up.
So basically if u buy now then take it as a long term investment.
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Its not about people who will fill them in. Its about people who will afford (the price or rent) to fill them in.
Since people are flippin left right centre, the end product will end up with an unbelievable price. For example, many 1 bed apartments in Abu Dhabi were launched at 2M. What will their value be in 2010 when finished? or 2009.... 4 Million? 3.5M?? ....And the rent? Ok lets forget the rent because we said the end user will be someone who will live in it..... will this person be able to buy it for that amount? How many people can afford over priced properties due to the flipping and investment greed goin on!!!...
So you buy and sell while you can.... but when I said who will fill them in... I didnt mean that there will be a lack of number.... but a lack of people who can afford the price and the rent.
Inv.