Pound Crashes/What a dilemma?

[DoBuy]

How many of you out there are in the same boat as me.
Living in UK,seeing the pound collapse(putting it mildly),and thinking,mmm,
do I sell now in Dubai and take advantage?If I hang on another 6 months will
the pound have surged and cost me alot of money?How long will the dollar remain this strong?What a dilemma.

[jordandvdj]

no buyers in the secondary market unless your unit is finished or nearly ready.

[Sean@Phuket]

Originally Posted by DoBuy

How many of you out there are in the same boat as me.
Living in UK,seeing the pound collapse(putting it mildly),and thinking,mmm,
do I sell now in Dubai and take advantage?If I hang on another 6 months will
the pound have surged and cost me alot of money?How long will the dollar remain this strong?What a dilemma.

YES! What an absolute dilemma ! I like yourself am in the same boat ! I guess only the powers that be will know which way the pound is going to turn, although a certain someone says to me Monday it should pick up a little? Uhmm but it this just speculation?

[DoBuy]

Originally Posted by Sean@Phuket

YES! What an absolute dilemma ! I like yourself am in the same boat ! I guess only the powers that be will know which way the pound is going to turn, although a certain someone says to me Monday it should pick up a little? Uhmm but it this just speculation?

I can see it picking up Monday.Today it took a huge nosedive because it was confirmed the UK is in recession.Mid-week it took another nosedive when the BOE
boss said we are set for a long recession.By monday things will have been digested a bit more and things will be a little calmer.I'm no expert but I can see it recovering slightly.
On the other hand in november if interest rates are reduced by 0.5 as is the speculation,than that will be further bad news for the pound.

[georgihh]

Originally Posted by DoBuy

How many of you out there are in the same boat as me.
Living in UK,seeing the pound collapse(putting it mildly),and thinking,mmm,
do I sell now in Dubai and take advantage?If I hang on another 6 months will
the pound have surged and cost me alot of money?How long will the dollar remain this strong?What a dilemma.

If you can get good price sell.
The pound might go more down but will come back.
On the other hand if the situation in Dubai doesn’t improve very soon the market can crash.
All of you people think that I always complain, but that’s the reality

[Lsab]

We sold our studio in IC towards the end of the summer. Just a few days after the money was transferred to the UK, the pound started falling. I daren't look now at how much more we would have made if we'd have hung on but just a week after the transfer, we'd 'lost' several thousand pounds!

[PropGuy]

I hope UK doesn't cut interest rate by .5%, or $ is going higher. That is bad news. What is the development stage of your property?

[Gashead]

Originally Posted by DoBuy

I can see it picking up Monday.Today it took a huge nosedive because it was confirmed the UK is in recession.Mid-week it took another nosedive when the BOE
boss said we are set for a long recession.By monday things will have been digested a bit more and things will be a little calmer.I'm no expert but I can see it recovering slightly.
On the other hand in november if interest rates are reduced by 0.5 as is the speculation,than that will be further bad news for the pound.

It didn't.

[DoBuy]

Originally Posted by Gashead

It didn't.

And I hope it doesnt for a couple of years.

[Gashead]

Originally Posted by DoBuy

And I hope it doesnt for a couple of years.

Well it was Dhs. 5.1 to the pound when I came to Dubai so the one piece of good news is that perhaps next year that perfect cottage in the country will be about Dhs. 1m.