Quote:
Originally Posted by georgihh
Never mind my friend as far as $ brings the Dubai prices down as much as they need to be and safe a lots of innocent people investing in Dubai I am OK.
People are comparing HK with Dubai hold on guys HK is well established and back up by China and Uk
Dubai is a baby and the baby needs milk and if the mother is dry where we go?
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Actually, it is the other way around.
First, US$ will push the property prices up in 2010 as I see a sharp fall in price of US$ around that time. US$ and commodities have inverse relationship.
Second, HK and Singapore are mature economies, they don't have more room for growth. Dubai is a baby and more potential for growth. Price go higher in the growing economies rather than matured economies. Prices in HK are twice as high as Dubai, so there is lot of room for growth in Dubai.
Third, Dubai is biding for Olympics and any good news on the bid would feed the bulls in Dubai property market and prevent any fall in the property prices... at least until the Dubai Olympics.
There are lot of things going in the favor of Dubai property market. Before city escape, people should start to see rise in property prices again... summer is as usual slow.
Actually, there has been increase in July since people are returning:
Mazaya Realestate Index
It is better than expected. August will see higher rise than July then sharp rise in Sept and Oct. Numbers in growth are compareable to previous figures. Summer normally takes a dip then rise starts.
I doubt property prices coming down until 2010 even if they come down.