Quote:
Originally Posted by georgihh
10% for residential, commercial is dead sounds strange but they build 3000 shops in IC and 90 % are still empty as nobody wants them – disaster.
To get a good interest rate in Dubai is almost impossible. Should be lower but is not available – tough
On top of that the property law is not clear if exist and the developer are making enormous amount of money on the back of the innocent people.
Just remember what is advertised or what you see is not the reality
I know the properly boom in South Africa is finished but Dubai is about to follow
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Georgiehh, thanks for the honest reply, i am looking around for options, thought Dubai would be good, saw some listings at IC, but am getting nervous about it, maybe too much developments going up all over the place. Its strange as the websites indicate that there is a shortage of commercial space, but like you say, reality can be different... i appriciate it!
Where do you come from, Dubai? Here in South Africa, it seems that we are at the peak of our interest rate cycle, currently prime lendig rate of 15.5% - the residential property market had a correction over the past year or so, commercial is still going quite well, and many investors are starting to look for bargains again, we are also looking... we think it could start to pick up soon.
Dubai World Africa (nvestment arm of Dubai World that focuses on the acquisition, development and management of prime assets on the African continent and the Indian Ocean Islands) also bought the V&A Waterfront in Cape Town, very nice real estate!