Affordable props

[georgihh]

Just wait and watch guys...almost 30% of the population depends on real estate revenues (somehow or the other) for their salaries.. the market is on the verge of collapsing...it was destined to with all the greed and corruption...these realestate dependant ppl will HAVE TO go back when they lose their jobs.......
A studio for AED 2M?? A fools paradise would be more realistic...i think necessary price corrections should be done ASAP before Dubai proves itself to be a dud.

For those who disagree, i say just "wait and watch".

I have to agree with you
The correction is due but looks like the buyers are gone and the sellers are just flooding the market.
The prices are going down as much as 5% every week and still no buyers.
And if the real estates start reducing stuff the picture will be even worst.
Only we can hope that the bubble is going to shrink not burst.
If nothing happens in the next 3-4 weeks the situation will be out of control.
I am afraid to say that the government should act now as this can damage the Dubai image for years to come

 

[Sportsman]

Lets not be overly dramatic. Read this weeks Gulf Business mag for some expert advice and insight to the market. Prices will drop to the off plan spectulative projects years away to being completed, take Palm Jebel Ali. I'm guessing another3-4 years away and people want to realize some gain rather than wait. Completed properties will do just fine, rent yields are very strong and should keep the foundation of the market. Supply shortfall is the other foundation. As long as people keep moving to Dubai and good jobs are available, the base of the market will not fall out. Corrections in certain areas but mainly with people that had no mortgage or finacing, now unable to "flip" and who paid a high price p/sqf. The issue is how many are there? This needs to work it's way through the system and the real end user price will be realized.