I would urge people to invest now rather than later, the market for new Ajman is creeping upto 700/sq meter,
I expect the Bank of England to cut interest rates very soon because of the risks of a major recession and this would lead to a rally for the pound against the dollar. As you know the pound is a risk averse currency more linked to gold, where as the dollar is more linked to equity and oil.
Although oil priced are reducing the demand for oil especially in China and India cannot be met with current supply and OPEC will not increase production simply because the oil supply in the world is finite and running out
Trouble is if you wait, the price of property will only increase, There is talk of a correction of Dubai prices in 2009 as supply meets demand , but because of big time sky scrapers like the Burj ect.. and the fact that buildings are not built on schedule, i would speculate to say that prices in New Ajman which is marketed as a commuters haven for people escaping the high Dubai prices will only increase
At the end of the day when you invest, you are ultimately looking for value for money and i would say at current prices properties in New Ajman are excellent value for money, and if you have the funds to invest(especially if you dont have to borrow) you are most likely not going to go wrong.
The only real risk with buying offplan is if the developers fail to complete the project. So it is really wise to check out the background of the developers, in this case the developers GSS have there fingers in many pies and have an international presence, even being involved in the aviation industry.
From the comments hear and from my ear to the ground, this particular project is selling fast, plus they have an excellent
PR /marketing organisation openshore,
Keeping your pounds in an account with inflation rates the way they are , plus taxes even if you put your money in an ISA account doesn't make much sense.
Conflict of Interest: I have already invested in GSS/Openshore