Quote:
Originally Posted by snakyy21
I think that speculator market will chill shortly as Dubai moves towards more civilized laws and lending procedures - in other words matures. The increase can not be sustained forever particularly since there are no macro-economic factors to support it. As properties become available on the market (developers finishing projects) and the number of rental units increase preventing from rental fees rising further Dubai real estate market will take a plunge. Once it happens market sentiments will change and people will become a lot more prudent with the way they invest and stop gambling or committing to something they can't sustain. A lot of poorer and risky investors will take a blow / get bankrupted.
BUT right now.. until there is a fool willing to pay more than the other fool paid for the property it is going to be a rollycoaster.
btw.. I did not mean to offend anyone.. nobody is fool.. it was just a figural expression.. yet it holds true.
Anyways.. I am looking for a completed property in Dubai -either Marina or JLT... or somewhere around there (e.g. Discovery Gardens, IMPZ, etc)... if you got one and you are willing to offer it at a competitive price - then your bigger fool is right in front of you.
You can reach me at snakyy21 attt hottmail dot com
Regards
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The days of speculating are almost over. Heard some not so good reports at the second community formation meeting we had.
You are right with the one fool to another thing ( no offence members ) . As long as you have someone else to buy you are out. As one of the members at the meeting put it. It's like passing the parcel. You keep passing it until the music stops
Regards
Roshan