How long will it take?

[georgihh]

To witness the prices of summer 2008

I predict 10 years
Yours predictions please?

 

[MASHH]

10 yearss is aloot in my opinion...for the Dubai economy to stabilize it will take them 2-5 years and the bonds they are giving for cash will be closed in 5 years....but again u cant predict such stuff.... banks will be back into financing from 1-3 years but i guess this year no one will do anything as everyone is looking for cashhh...and banks are waiting for Tamweel and Amlak after the merge as they are the key players in the market to see their plans and follow....

i my opinion things can get back to normal in max 3-5 years and ppl buying again properties in max 3 years....

 

[siraj]

maximum 3 yrs....

 

[PropGuy]

5 to 7 years

 

[paul1970]

3 -4 Yrs Maximum. ( This is a new dynamic world with technology , should be faster)

 

[davidps]

Relatively speaking, never. They will reach there eventually (I'd say 6-7 years) but only because of normal inflation process. There probably won't be another situation where there is such a large disparity between incomes, prices of goods and services and prices of property.

 

[siraj]

well u wud c da same thing happening in future very soon.....it will follow da same business cycle has it was doing in past.....

 

[Brendan R]

14.67 years to be precise, this should give plenty of time for levered investors to default on their obligations, clean the place, build the required infrasructure, put into place a proper legislative framework, and start anew.

We will not experience the levels of exuberance recently witnessed for at least a generation.

Always factor in into your investment the geopolitical risk (Iran). That's also why investing in Dubai should command a premium. The region is far from stable and its stability is in part a function of oil prices.

 

[Wannaberich]

People will start buying properties again around Sept this year.By then prices will have dropped as far as they can go and banks will have started lending again to a certain extent.
The price of property will be greatly affordable to alot of people.
It wont be like before.Sales will be far less but they will start slowly and build up slowly.
The economy of Dubai will take around 3 years to reach a point where it can be said to be improving.

 

[Sinbad]

5 (+/- 2) years

 

[georgihh]

10 years is OK

So far so good the average prediction is 5 years. Having in mind that the prices are down by half, it is valuable to hold on and double your money in 5 years.
Even if the prices double in 10 years is a good investment.

 

[zombie]

So far so good the average prediction is 5 years. Having in mind that the prices are down by half, it is valuable to hold on and double your money in 5 years.
Even if the prices double in 10 years is a good investment.

Considering you can't sell right now, unless you are willing to throw it all down the toilet, you are forced to hold.

10-12 years is my guess, thats how much time it will take the world to stop the downslide(2 years),5-6 years of gestation(I don't think people have such short memory spans) & 3-4 years of growth leading to similar prices of 2008.

It is a good investment for those who bought in 2006, have got possession thereby at least th 5-6% returns allow to pay for maintenance, an average annualized growth rate of 4-5% in capital value.

Hopefully gives the govt enough time to :-

1. Refinance themselves allowing for completion of Govt owned & launched projects.
2. Private developers who can & do complete the handover process, the rest can go Bankrupt & those projects will be picked up by shrewed business men at throwaway prices.
3. Infrastructure is complete(including cooperation with neighbours regarding Mass Transit Systems required)

We can hope to use this common sense the next time when we see such bubbles