Cityscape 2008 - Hype or Fact?

[dubaizone]

With the slow summer still going on all i hear from people these days is that Cityscape will change everything and bring things back to normal. It seems like everybody is looking at Cityscape as a magic wand that Dubai is going to wave in the air and everybody is going to be a million dirhams richer

What concerns me is that i feel people are expecting a bit too much out of Cityscape. Remember Cityscape is a developers exhibition and people have made money in the past by buying from these developers and flipping those properties the next day (or the same day in some cases). I doubt that this year flipping will be that easy - there is a lot of inventory out there already that people are trying to sell and its not that easy anymore. So its not that Cityscape wont bring life back into the market but i am worried that it may not live up to the ultra high expectations of people and then suddenly it will be regarded as a flop and then the stories and rumours about the property market dying will escalate and the whole domino effect will happen.....

I just wanted to chat about what people are realistically expecting out of this years Cityscape - i personally will be happy if i can see some reasonably good projects launch at decent prices. I dont expect people fighting over each other to buy, but i do expect to see a large amount of investor interest return to the market due to Cityscape.

 

[Roshan]

With the slow summer still going on all i hear from people these days is that Cityscape will change everything and bring things back to normal. It seems like everybody is looking at Cityscape as a magic wand that Dubai is going to wave in the air and everybody is going to be a million dirhams richer

What concerns me is that i feel people are expecting a bit too much out of Cityscape. Remember Cityscape is a developers exhibition and people have made money in the past by buying from these developers and flipping those properties the next day (or the same day in some cases). I doubt that this year flipping will be that easy - there is a lot of inventory out there already that people are trying to sell and its not that easy anymore. So its not that Cityscape wont bring life back into the market but i am worried that it may not live up to the ultra high expectations of people and then suddenly it will be regarded as a flop and then the stories and rumours about the property market dying will escalate and the whole domino effect will happen.....

I just wanted to chat about what people are realistically expecting out of this years Cityscape - i personally will be happy if i can see some reasonably good projects launch at decent prices. I dont expect people fighting over each other to buy, but i do expect to see a large amount of investor interest return to the market due to Cityscape.

Downright, total hype I should say. The points you have pointed out are very true, flipping will not be easy at this years cityscape. Earlier Cityscape, this was possible but not now.

In time to come, prices will get decent. This fever will not last long.

Regards

Roshan