Prices might drop as from next month

[georgihh]

Before we see another rally in the property prices in Dubai I think they might go down a little bit in the next couple of months until proper regulations of owning and buying properties are introduced.

Reasons

1. The last increase was to much and the prices should go down a little bit
2. UK, Europe, Pakistan currencies are loosing against the dollar and people from those countries might consider cashing up and generating a huge profit.
3. The residential visa against property should stop a considerable amount of people investing in Dubai’s properties.
4. Lots of people I say as much 10% a very disappointed from the market, due to - late delivery, construction cancelled or not started, or not achieving land registration.
5. Abu Dhabi will take a huge amount of capital from Dubai.
6. There is more than enough supply of properties apart from the bottom end flats

[sasherwani]

I disagree, the negative sentiment is just due to a lazy summer and the Morgan Stanley report. Prices will soar again in October - from 15-20%.

[snakyy21]

Originally Posted by sasherwani

I disagree, the negative sentiment is just due to a lazy summer and the Morgan Stanley report. Prices will soar again in October - from 15-20%.

I think that speculator market will chill shortly as Dubai moves towards more civilized laws and lending procedures - in other words matures. The increase can not be sustained forever particularly since there are no macro-economic factors to support it. As properties become available on the market (developers finishing projects) and the number of rental units increase preventing from rental fees rising further Dubai real estate market will take a plunge. Once it happens market sentiments will change and people will become a lot more prudent with the way they invest and stop gambling or committing to something they can't sustain. A lot of poorer and risky investors will take a blow / get bankrupted.

BUT right now.. until there is a fool willing to pay more than the other fool paid for the property it is going to be a rollycoaster.

btw.. I did not mean to offend anyone.. nobody is fool.. it was just a figural expression.. yet it holds true.

Anyways.. I am looking for a completed property in Dubai -either Marina or JLT... or somewhere around there (e.g. Discovery Gardens, IMPZ, etc)... if you got one and you are willing to offer it at a competitive price - then your bigger fool is right in front of you.

You can reach me at snakyy21 attt hottmail dot com

Regards

[Roshan]

Originally Posted by snakyy21

I think that speculator market will chill shortly as Dubai moves towards more civilized laws and lending procedures - in other words matures. The increase can not be sustained forever particularly since there are no macro-economic factors to support it. As properties become available on the market (developers finishing projects) and the number of rental units increase preventing from rental fees rising further Dubai real estate market will take a plunge. Once it happens market sentiments will change and people will become a lot more prudent with the way they invest and stop gambling or committing to something they can't sustain. A lot of poorer and risky investors will take a blow / get bankrupted.

BUT right now.. until there is a fool willing to pay more than the other fool paid for the property it is going to be a rollycoaster.

btw.. I did not mean to offend anyone.. nobody is fool.. it was just a figural expression.. yet it holds true.

Anyways.. I am looking for a completed property in Dubai -either Marina or JLT... or somewhere around there (e.g. Discovery Gardens, IMPZ, etc)... if you got one and you are willing to offer it at a competitive price - then your bigger fool is right in front of you.

You can reach me at snakyy21 attt hottmail dot com

Regards

The days of speculating are almost over. Heard some not so good reports at the second community formation meeting we had.

You are right with the one fool to another thing ( no offence members ) . As long as you have someone else to buy you are out. As one of the members at the meeting put it. It's like passing the parcel. You keep passing it until the music stops

Regards

Roshan

[talk]

[QUOTE=Roshan;70264]The days of speculating are almost over. Heard some not so good reports at the second community formation meeting we had.

You are right with the one fool to another thing ( no offence members ) . As long as you have someone else to buy you are out. As one of the members at the meeting put it. It's like passing the parcel. You keep passing it until the music stops .




Well the music is being turned down very slowly now.We will soon see the beginning of the sales.Distress Sales.Premiums will fall,commissions will fall and many a greedy investor to.

Premiums and Commission being so high many an estate agent will fall to.
Estate Agents are the biggest crooks in Dubai at present.The real investment is gone before you buy.

Dubai is fantistic tourist attraction.Well staffed hotels,unreal manners etc,but when the tourist really start to come can Dubai cope.
Tourist are needed in every city,when they come they turn it to trash,(sorry).
Sorry but it's true.

I've seen many good hotel,attractions in many cities destroyed in under 5years.

I believe anyone now looking for investment in Dubai must look for top of the market developments.Nothing under 7mD.Anything less is high risk.Less investors in the top level market and still many rich purchasers to come,but they will be used to class and accept nothing less.

Some of the World Development is good,the worlds 1st Solar Rotating Tower looks great,look only to the best developments now.

[georgihh]

Yes prices are going down and the government want interfere as they want small and peaceful country with less people.
I am waiting to buy two bedrooms in Dubai Marina for 1000DHS per sqft

[New_Investor]

Originally Posted by georgihh

Yes prices are going down and the government want interfere as they want small and peaceful country with less people.
I am waiting to buy two bedrooms in Dubai Marina for 1000DHS per sqft

With all due respect i've red several of your posts and it seems that you are trying to spread a word of prices going down in Dubai market and there's no wonder why since u want to buy in Dubai marina for 1000 AED per SF while the current market price is above 2000 AED per SF (prices are from several market reserches e.g alienah.com) - which means you are looking for 50% decline at least in the market price heh --

I think it's much better for the sake of all the parties of the property market that any articles posted to be neutral in nature to give a realistic view of the curent market condidtion not a personal kind of a view that might (and will Be) biased for personal reasons.

[DoBuy]

I can't take too much notice of a one-off report like Morgan Stanley,I prefer to lump a number of reports from different sources together and see what they say.So far its looking like prices will continue to rise till sometime 2010.
Personally I can see prices rising but alot slower than over the past year.Maybe 25/30% and not 80% on average.Lets not forget prices are still below Singapore and Hong Kong.
For those looking for a quick buck maybe those times have gone.I see Dubai as a long term investment.Buy now,see you property value increase over the next 18 months then take a correction.Wait another 2 years and see prices start to rise again slowly over a few years as many of Dubais projects get completed and the population rises.
No-one can predict what will happen.No-one saw the credit crunch in the US.No-one saw house prices in the UK tumble.No-one saw oil rise to $150 then when it did they said $200 would be next.Now its right down to $117.No-one saw the dollar get this strong this quick
and get to $1.85 against sterling.No-one knows,everyone just guesses.

[New_Investor]

Originally Posted by DoBuy

I can't take too much notice of a one-off report like Morgan Stanley,I prefer to lump a number of reports from different sources together and see what they say.So far its looking like prices will continue to rise till sometime 2010.
Personally I can see prices rising but alot slower than over the past year.Maybe 25/30% and not 80% on average.Lets not forget prices are still below Singapore and Hong Kong.
For those looking for a quick buck maybe those times have gone.I see Dubai as a long term investment.Buy now,see you property value increase over the next 18 months then take a correction.Wait another 2 years and see prices start to rise again slowly over a few years as many of Dubais projects get completed and the population rises.
No-one can predict what will happen.No-one saw the credit crunch in the US.No-one saw house prices in the UK tumble.No-one saw oil rise to $150 then when it did they said $200 would be next.Now its right down to $117.No-one saw the dollar get this strong this quick
and get to $1.85 against sterling.No-one knows,everyone just guesses.

Well said, i agree with you.

[georgihh]

Originally Posted by New_Investor

With all due respect i've red several of your posts and it seems that you are trying to spread a word of prices going down in Dubai market and there's no wonder why since u want to buy in Dubai marina for 1000 AED per SF while the current market price is above 2000 AED per SF (prices are from several market reserches e.g alienah.com) - which means you are looking for 50% decline at least in the market price heh --

I think it's much better for the sake of all the parties of the property market that any articles posted to be neutral in nature to give a realistic view of the curent market condidtion not a personal kind of a view that might (and will Be) biased for personal reasons.

I can buy now for 1450 dhs per sqft in Dubai marina
If you don’t believe me open the newspapers make some phone calls and you will convince yourself
A drop of 20 % is not far away.
I have met some people who bought in DG and they are desperate to sell as enormous AC service charges but they can’t sell due to any buyers or not allowed to sell
On top of that HK and Singapore are places with established markets and population and UAE still they don’t know what to do and how much to charge the pure immigrant.