Quote:
Originally Posted by cheemz
Where as i surely hope Dubai cityscape brings the market full swing into action, I feel this year with a lot of negative press in the media (Morgan Stanley's report, Lack of transparency reports, senior executives being investigated etc...) people are going to be much more cautious with their purchases. I feel the hype is just being built up in regards to past trends...
Most people i speak to are concerned with the whole "don't worry, once Dubai Cityscape comes, everything will boom again" mentality!
Let's use Abu Dhabi cityscape as an example... Investors showed immense demand which caused developers to raise prices in an unjustifiable manner, yet people still bought whatever they could... After the show, people found they couldn't sell their properties as they had anticipated...
I think its a big question mark as to what will happen... If more bad press comes into the media, you'll find investors using much more diligence rather than the past where things resembled more of a fish market!
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People are getting cautious no doubt. If investors have that " don't worry, come cityscape everything will be ok" feeling shows that the market is still speculator driven.
Never has one heard where an exhibition has so much of impact on the real estate market.
Abudhabi cityscape cited as an example shows how when people buy without thinking can land them into problems.
Buyers now have their sensors on and this cityscape will be a testing ground.
Regards
Roshan