Go figure where the property prices are heading

[Fran]

OPEC cuts production : Dubai Chronicle

UAE Central Banks avails Dhs.50 billion for local banks : Dubai Chronicle

[DoBuy]

We all like to think prices will continue to shoot up but we need to be realistic.
Dubai will be affected by th credit crunch you have to think,but by how much?
Europeans just don;t have the money now to invest in Dubai,on the other hand,investing in property in the UK is a no-no so if they do have any spare money,then investing in Dubai makes more sense.
Same can be said of the americans although they haven't been a big investor in Dubai,although more for big projects like theme parks,etc which may be affected.
As for oil prices,Gulf News reports that high oil prices will shield the UAE from some of the credit crunch which is good news.
Regards 70.000 units coming into the market,how the hell can anyone know!?Delays etc make any estimate just a pure guess.However,personally I can't see how prices can shoot up 50-70% per year as they have been doing.A slowdown to around 15-20% seems more likely for next year followed by even less.No more quick bucks with flipping.
At the end of the day no-one knows what will happen.Most people did not see the credit crunch coming,the turmoil in Wall Steet,oil prices up to 147 then back down to 92,sterling dropping rapidly against the dollar etc.
Who know what tommorow will bring.
What really interestes me is who will buy into the many launches due at Waterfront and Arabian Canal due out over the next few years?By then the market would have levelled,
even dropped,making these areas a no-no for investors.
Dubai for me is now a place for long term investment.In 8-10 years when much is completed,it will be an amazing place where many will want to live.