Silence before the storm - Good or Bad

[dubister]

I have been wondering why there is such quiteness in the air... I wonder if this silence before the Cityscape will bring about a storm, as in takeoff of the property market here again, or the otherwise... I wonder.... With all the news now a days, it is quite hard to predict.... What do you guys think?!

[georgihh]

Originally Posted by dubister

I have been wondering why there is such quiteness in the air... I wonder if this silence before the Cityscape will bring about a storm, as in takeoff of the property market here again, or the otherwise... I wonder.... With all the news now a days, it is quite hard to predict.... What do you guys think?!

Is not going to be a storm will be a nice winter when the market will settle down.
City scape is only 3 days. After that everything goes back to normal.
Some prices will go up but some down. The storm was at the beginning of the year now we are still cleaning the damages will take tame before the next hurricane

[djaan]

Originally Posted by dubister

I have been wondering why there is such quiteness in the air... I wonder if this silence before the Cityscape will bring about a storm, as in takeoff of the property market here again, or the otherwise... I wonder.... With all the news now a days, it is quite hard to predict.... What do you guys think?!

here in pakistan many people are confused and today a newspaper had a very bad news that the Dubai property is already 30% down and many builders and Brokers dont tell the public because if they tell them how can they sell but anyhow i know many freinds who went to work there are also heading back home and say that there is absolutely no work in Dubai and the realty market is very slow if this happens than it will be very bad for us investors and iam trying to sell my units since 4 months and i cannot sell so this means very bad weather for us in the future.

regards
Djaan

[georgihh]

Originally Posted by djaan

here in pakistan many people are confused and today a newspaper had a very bad news that the Dubai property is already 30% down and many builders and Brokers dont tell the public because if they tell them how can they sell but anyhow i know many freinds who went to work there are also heading back home and say that there is absolutely no work in Dubai and the realty market is very slow if this happens than it will be very bad for us investors and iam trying to sell my units since 4 months and i cannot sell so this means very bad weather for us in the future.

regards
Djaan

30 % down from where – some prices went 100% up in the newspaper so 30% down is not accurate
What are you trying to sell and for how much?
A population cleansing is going on in Dubai at the moment and the target is 7% grow up per year. There are jobs but most of the jobs are created out of nothing and this business is slowing down

[junaidrafique]

Originally Posted by georgihh

30 % down from where – some prices went 100% up in the newspaper so 30% down is not accurate
What are you trying to sell and for how much?
A population cleansing is going on in Dubai at the moment and the target is 7% grow up per year. There are jobs but most of the jobs are created out of nothing and this business is slowing down

30% down is absurd. But people panic selling and properties not selling easily is accurate. I think this is for 3 main factors: first is its Ramadan so many investors still not in the country, second is scare mongering because of the new resale laws coming in to effect, the third is investor confidence is down due to the global market condition.

However, it just means that people will have to change the way they view their investments in Dubai. They will have to understand that false hikes and artificial growth of prices is unsustainable and that natural increases in price are more sustainable and conducive to long term prosperity.

What investors have to understand is that people are still availing 0% tax, the UAE is still an emerging market and a strong tourist attraction and as long as this is the case then their is still plenty of money to be made, but just not in the same way as before.

It just means investing carefully and wisely.
medium term people medium term!

[georgihh]

Originally Posted by junaidrafique

30% down is absurd. But people panic selling and properties not selling easily is accurate. I think this is for 3 main factors: first is its Ramadan so many investors still not in the country, second is scare mongering because of the new resale laws coming in to effect, the third is investor confidence is down due to the global market condition.

However, it just means that people will have to change the way they view their investments in Dubai. They will have to understand that false hikes and artificial growth of prices is unsustainable and that natural increases in price are more sustainable and conducive to long term prosperity.

What investors have to understand is that people are still availing 0% tax, the UAE is still an emerging market and a strong tourist attraction and as long as this is the case then their is still plenty of money to be made, but just not in the same way as before.

It just means investing carefully and wisely.
medium term people medium term!

Actually the statistic shows that the Pakistani people are 20% percent of the investors in Dubai.
And if those people think the same way as the guy above is very bad news. They can severally damage the market especially when Pakistani currencies went down 30% in 6 months

[junaidrafique]

Yes but this 20% are speculators who arent inerested in sustaining long term growth. The market is better off without them for the time being until things settle down and their is natural correction and steady organic growth. Its simple the higher you throw a ball in the air the harder and faster it comes down. the lower the ball is thrown the easier it is to catch and the softer the landing.

[georgihh]

Originally Posted by junaidrafique

Yes but this 20% are speculators who arent inerested in sustaining long term growth. The market is better off without them for the time being until things settle down and their is natural correction and steady organic growth. Its simple the higher you throw a ball in the air the harder and faster it comes down. the lower the ball is thrown the easier it is to catch and the softer the landing.

I presume you are from UAE if not your post doesn’t make sense

[junaidrafique]

Me coming from the UAE has nothing to do with it. The market overheating and leading to sharp corrections due to the greed of a few speculators isnt in anyones interests. Dubai is still a strong market with huge potential where everyone can still make money if they are sensible. People are just scared because of a change in the market and change always scares people. But change in this case is a good thing not a bad one.

[georgihh]

Originally Posted by junaidrafique

Me coming from the UAE has nothing to do with it. The market overheating and leading to sharp corrections due to the greed of a few speculators isnt in anyones interests. Dubai is still a strong market with huge potential where everyone can still make money if they are sensible. People are just scared because of a change in the market and change always scares people. But change in this case is a good thing not a bad one.

Whatever goes up comes down. The soft lending is needed, but you should have not thrown the ball so high at the first stage. I understand that Dubai can not grow with such a speed and the corrections are needed. Some people will burn very badly maybe me I don’t know but that’s life – a life with no surprises is not interesting