Are we yet to see the worst of the Dubai property market fall?

[revolutionary]

These personal insults are not helping anyone!

I get fed up with wading through insults to find little nuggets of facts that might be used to build a rational view of what is going to happen - good or bad.

The interesting points I picked up that suggest things may get worse:-

- School terms ending - will those with kids now flee? Much less disruption for them if they start a new year in a new school away from Dubai.
- No resolution to visa issues

Points suggesting things will get better:-

- Burj Dubai completion (could add metro and marina to that too) making Dubai more tourist friendly
- Unrest in neighbouring countries esp Pakistan leading to influx looking for a safe haven (Sri Lanka may go the other way though)
- Tax increases forecast for developed countries to pay for all the stimulus going in right now and I don't think this is a minor point Dobuy!
- Reality check when people realise that there are no jobs for them to escape back to in their own countries
- Signs of wheeler-dealers looking to fleece people trying to sell, knowing they can shift the more popular properties to ready buyers

So my take on it all is that there are very few genuinely positive reasons (completion of major projects) but far more double negatives i.e. its worse elsewhere and the cowboys are coming back.

I agree that Cityscape in the autumn will give a better idea whether the buzz is going to return quickly. We cannot expect too much right now.

 

[Wannaberich]

These personal insults are not helping anyone!

I get fed up with wading through insults to find little nuggets of facts that might be used to build a rational view of what is going to happen - good or bad.

The interesting points I picked up that suggest things may get worse:-

- School terms ending - will those with kids now flee? Much less disruption for them if they start a new year in a new school away from Dubai.
- No resolution to visa issues

Points suggesting things will get better:-

- Burj Dubai completion (could add metro and marina to that too) making Dubai more tourist friendly
- Unrest in neighbouring countries esp Pakistan leading to influx looking for a safe haven (Sri Lanka may go the other way though)
- Tax increases forecast for developed countries to pay for all the stimulus going in right now and I don't think this is a minor point Dobuy!
- Reality check when people realise that there are no jobs for them to escape back to in their own countries
- Signs of wheeler-dealers looking to fleece people trying to sell, knowing they can shift the more popular properties to ready buyers

So my take on it all is that there are very few genuinely positive reasons (completion of major projects) but far more double negatives i.e. its worse elsewhere and the cowboys are coming back.

I agree that Cityscape in the autumn will give a better idea whether the buzz is going to return quickly. We cannot expect too much right now.

Bottom line is should u invest in Dubai?
Not knowing the property situation in the rest of europe I would say for those in the UK,no.Buy a bargain at home.Also one of the reasons for buying into Dubai was the high rents you could charge plus the 1 cheque payments.Thats no longer the case.
Those who should invest in Dubai are indians,pakistanis,iranians mainly.
Will prices boom?Doubt it,maybe a mini-boom at best.
Will things get worse?yes until cityscape at least.
Will Dubai become a great city to live and for tourists?probably.
Just my opinion.

 

[stumbled]

expatriates.com - Dubai - Real Estate For Sale

The point dobuy seems to be making is why have i come back after 2 years??well, for someone like me i like to read the posts and only think speak when its necessary and this is a forum not his ''chai'' shop where he can control who comes in and who doesn't. If you make 2 posts a day, it shows how frivelous you are with your comments and speak before you think,all this time i'VE come here weekly read the forums and bloggs and go away. The market was doing well and everyone seemed happy and none seemed to pay attention to the dangers that LURKED and still lurk out there. All i ask is you counter my points as i list them, cause you don't seem to understand when i put em in sentences. You are obessessed with what i missed and why i am here, seems living in Dubai makes you like that as you dont have your basic rights, freedom of speech, freedom to go where you like when you liKe...etc etc.



1)dirhams peg?
2)will income tax be introduced?
3)when the kids finish their term will the parents flee?
4)what guarantee will people give for a deposit to a bank?
5)with europeans and americans out of the pic, who are the buyers out there?
6)WHAT SORT OF loans are you being offered in dubai and at what rate??
7)In UK i was offered a mortgage offer recently at 2.33% fixed for 2 years, can you ever get that sort of a rate in dubai?
8)with gross rents at 10%...after dedcuting service charges, income tax (if not living in dubai),management charges,wear and tear, etc etc do people still make money on the end product??
9)majority of people were making money when they were buying at launch and hoping to make money as they went along that required $10k-100k dollars, they are stuck with huge portfolios and are finding it harder to make repayments as their slice increases... will they dump their stock and at what rate ??
10)What is the local govt. doing to stimulate the economy??the 10bil bail out by abudhabhi seemed like a bail out.....and if it ever does or protects anything it will only for its local citizens not for the expats.

11)has anyone been given a loan for a property??
12)what RIGHTS or what sort of renumeration packages are available if you lose a job??
13)Ive heard you can be denied a visa if you make a serious traffic offence, so whats the point of having a residence visa when you don't have basic human rights and right to entry and retire in a country you slogg your whole life?

the questions are endless....LIKE I SAID YOU DON'T KNOW MY FINANCIAL POSITION IN LIFE AND YOU ARE STUCK ON THE IDEA THAT I AM BITTER WITH A MISSED OPPORTUNITY, 3-4 years is a long time to be bitter isnt it? and remember opportunities never die there is always an oppotunity ,all you have to do is be wise and be PATIENT. That is A THOUGHT you can chew upon , to me I want answers to my questions that i've asked, until then from where i am sitting DUBAI IS F.I.N.I.S.H.E.............D!!!






the link gives you the distress sellers in dubai ...


expatriates.com - Dubai - Real Estate For Sale

 

[AjmanInvestor]

Who will come to rescue buyers and investors ....defaulters growing

Another one claiming he saw the world wide credit crunch coming.How boring how sad.No-one knew.
Sounds like your really upset for not buying into IC.Had you done so in 2005,even with the price crash you would be fine and earning a very good rental yeild.Had you been really smart you would have sold last year and made a fortune.
You didnt and now you begrudge Dubai becoming the great city it will become.
Sad.

Who will come to rescue buyers and investors ....defaulters growing

 

[Wannaberich]

expatriates.com - Dubai - Real Estate For Sale

The point dobuy seems to be making is why have i come back after 2 years?

Because you're bitter at having missed out on a fortune in Dubai.You're mad with yourself for being a coward and not having the guts to invest like the rest of us.
Now your gloating when you see what has happened in Dubai.You read the posts
of those who have lost alot and want to make them feel even worse by telling them how crap Dubai is and how it will never recover.
You have no vested interest in Dubai yet you spend all this time on here.Strange.
You're a joke.

 

[Wannaberich]

Who will come to rescue buyers and investors ....defaulters growing

No-one will rescue them.Those who had the guts to invest in Dubai were not forced to.Everyone makes their own mistakes and must live with them.

 

[stumbled]

No-one will rescue them.Those who had the guts to invest in Dubai were not forced to.Everyone makes their own mistakes and must live with them.

I rest my case ...so you do believe investing in dubai was a mistake period.

And that means when the times were good and people invested and if that was a mistake everything from now with dubai is a mistake too??

I am still waiting for my answers to the questions i have put forth regarding dubai.

 

[stumbled]

Because you're bitter at having missed out on a fortune in Dubai.You're mad with yourself for being a coward and not having the guts to invest like the rest of us.
Now your gloating when you see what has happened in Dubai.You read the posts
of those who have lost alot and want to make them feel even worse by telling them how crap Dubai is and how it will never recover.
You have no vested interest in Dubai yet you spend all this time on here.Strange.
You're a joke.

What fortune have you and others made here by being brave investors ???all you've done is gambled on Makhtoums horses indirectly(property) and you call yourself wise?? yes you had the GUTS to gamble. You are just proving that i was wise not to get enticed by the glitter that dubai was and greedy baffons fell for, and have let this bubble burst on their faces. You call me a coward, that in the finance world is called ''shrewd'' and i don't gamble my money away. People like you who get caught when the bubble burst are called ''slaughtered pigs'', so i am happier to be called the coward.

I work on set returns and deal with end products, as in being a landlord. Not a ''chai'' shop owner who buys into the market at launch and hopes a return of 30-40%, thats absolutely stupid and a gamble and i am afraid you belong in that category.

IC was a good investment at launch and i wanted to hold them till the end and make a profit on the rental return which i still can even if i wish to enter the market now...lol...Infact leaving my money in sterling and in a bank at a return of 6.5%over 4-5 years that IC has taken to complete I haven't lost anything and now with record interest rates at a lower lelvel if i want to buy into dubai i can and bargain and make a return on rental yield, but then again no thank you, ill wait till dubai is crumbled and dust, and chai shop owners like u are out.

I would never buy and sell something at short periods as it would hit me with CGT(capital gains tax) and put me in a very high tax group in the UK , plus I don't live in Dubai so i've saved myself alot of aggravation from trying to chase the builders and brokers from my end and we all know how peace of mind is priceless. I can understand ur hurting deep inside and are trying very hard at 1 pointers to pick on me personally, but your frustrations with dubai could be chanelled in a better area than on me. Your best bet is to prove all my points are wrong, in your last post you have proved and said dubai was a mistake so why shouldn't I gloat at reading and predicting the market correctly 2 years ago???

who's stupid you decide...lol, oh and btw did you read the link of distress sellers of dubai... well if not follow the link in my previous posts its all there.
The way it works with investments most of the time is you take 80% chance and 20% knowledge and hope you will secceed, but in this case i was here 2 years ago warning everyone it was 100%certain this was a ''pack of cards''. So, i am back to let everyone know dubai is finished and things need to start at a very low level and properties need to fall way below launch prices and climb from there. I wouldn't be surprised if prices fell 50% below launch for them to stabilise.
good day!!

 

[Wannaberich]

I rest my case ...so you do believe investing in dubai was a mistake period.

.

Only for some.Luckily Im not one of them, sorry to disappoint you.

 

[Wannaberich]

What fortune have you and others made here by being brave investors ???all you've done is gambled on Makhtoums horses indirectly(property) and you call yourself wise?? yes you had the GUTS to gamble. You are just proving that i was wise not to get enticed by the glitter that dubai was and greedy baffons fell for, and have let this bubble burst on their faces. You call me a coward, that in the finance world is called ''shrewd'' and i don't gamble my money away. People like you who get caught when the bubble burst are called ''slaughtered pigs'', so i am happier to be called the coward.

I work on set returns and deal with end products, as in being a landlord. Not a ''chai'' shop owner who buys into the market at launch and hopes a return of 30-40%, thats absolutely stupid and a gamble and i am afraid you belong in that category.

IC was a good investment at launch and i wanted to hold them till the end and make a profit on the rental return which i still can even if i wish to enter the market now...lol...Infact leaving my money in sterling and in a bank at a return of 6.5%over 4-5 years that IC has taken to complete I haven't lost anything and now with record interest rates at a lower lelvel if i want to buy into dubai i can and bargain and make a return on rental yield, but then again no thank you, ill wait till dubai is crumbled and dust, and chai shop owners like u are out.

I would never buy and sell something at short periods as it would hit me with CGT(capital gains tax) and put me in a very high tax group in the UK , plus I don't live in Dubai so i've saved myself alot of aggravation from trying to chase the builders and brokers from my end and we all know how peace of mind is priceless. I can understand ur hurting deep inside and are trying very hard at 1 pointers to pick on me personally, but your frustrations with dubai could be chanelled in a better area than on me. Your best bet is to prove all my points are wrong, in your last post you have proved and said dubai was a mistake so why shouldn't I gloat at reading and predicting the market correctly 2 years ago???

who's stupid you decide...lol, oh and btw did you read the link of distress sellers of dubai... well if not follow the link in my previous posts its all there.
The way it works with investments most of the time is you take 80% chance and 20% knowledge and hope you will secceed, but in this case i was here 2 years ago warning everyone it was 100%certain this was a ''pack of cards''. So, i am back to let everyone know dubai is finished and things need to start at a very low level and properties need to fall way below launch prices and climb from there. I wouldn't be surprised if prices fell 50% below launch for them to stabilise.
good day!!

For someone who has no interests in Dubai u sure go to alot of trouble to post alot of dribble.
Why dont u search other destinations on this website for the next location your'll be too gutless to invest in.

 

[stumbled]

Only for some.Luckily Im not one of them, sorry to disappoint you.

YOU think all this is for you??I know this forum is your home and you live here, can you atleast answer the questions I have posted??


Not taking a gamble doesn't make me gutless, makes me sensible. You're the gambler and with all the guts. So, now we have moved from me being bitter to gutless. How about senseless...thats where you stand, rather than getting personal...just answer the question why do you think dubai isn't finsihed?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????

 

[stumbled]

For someone who has no interests in Dubai u sure go to alot of trouble to post alot of dribble.
Why dont u search other destinations on this website for the next location your'll be too gutless to invest in.

how would you know what my interests are with dubai??? exactly my point concentrate on answering the question and stop scoring cheap 1 pointers and getting personal, you don't get medals here.

 

[Wannaberich]

Give me your questions again.I cant be bothered to read your dribble again.
Before I answer them,tell me some good points on Dubai.Im sure even u can find some.
Then tell me why u bother to come on here and comment on a place u obviously do not care for.
Try to stop looking at Dubai as just an investment subject.Its more than that.
Many people on here also marvel at the projects and the type of city Dubai is becoming.
Unlike you we dont all just think about the money.

 

[stumbled]

Give me your questions again.I cant be bothered to read your dribble again.
Before I answer them,tell me some good points on Dubai.Im sure even u can find some.
Then tell me why u bother to come on here and comment on a place u obviously do not care for.
Try to stop looking at Dubai as just an investment subject.Its more than that.
Many people on here also marvel at the projects and the type of city Dubai is becoming.
Unlike you we dont all just think about the money.

Once again I rest my case that you don't read anything and just blabber away without knowledge and hence people like you are a waste of space on blogs and forums, contribution to the subject zero,just getiting personally involved cause they have failed miserably in life and find some place they can call their own.
If all along you haven't got the whiff of my questions then what were you on about?? everytime you speak you bring shame on urself . You felt threathend that someone stood against something that makes your life go around.

Dubai hasn;t got anything good for me to say, you say I am all about money and investments, well if you ever read any of my posts the first one mentions i turned away from dubai cause of its HUM AN RIGHTS ISSUES AND TWO TIER RESIDENCY LAWS. Its a racial state!! and for a place that doesn't treat humans at parity cannot be a place to invest, that is one of the reason and the major one. Like I said you will one day have to stick makhtoums face in your houses, like you have to have it in all business premises. There I proved you wrong again that i was all abt money.

Read this if you find time...and you will never say anything nice about dubai. A country if it still practices slavery and doesn't treat its human kind with fairness should be made to suffer. Now if you have any sense read this article and come back with some sensible pointers and stop wasting forum space ,i am beginning to feel sorry for you and your intelligence.

The link below takes you to the page where this discussion is going on on this forum, how comes you haven't posted anything there?? scared or you just don't have anything useful to say??

http://www.propertyforum.com/forum/dubai-property/12548-dubai-property-market-falling-apart-finding-level.html

This link is how shameful dubai is...

The dark side of Dubai - Johann Hari, Commentators - The Independent

 

[stumbled]

watch this clip on the link below and tell me how can you invest in a place where these savages live and rule?? you are sitting on a time bomb...YOU HAVE BEEN WARNED.

ABC News Exclusive: Torture Tape Implicates UAE Royal Sheikh - ABC News

 

[Wannaberich]

Once again I rest my case that you don't read anything and just blabber away without knowledge and hence people like you are a waste of space on blogs and forums, contribution to the subject zero,just getiting personally involved cause they have failed miserably in life and find some place they can call their own.
If all along you haven't got the whiff of my questions then what were you on about?? everytime you speak you bring shame on urself . You felt threathend that someone stood against something that makes your life go around.

Dubai hasn;t got anything good for me to say, you say I am all about money and investments, well if you ever read any of my posts the first one mentions i turned away from dubai cause of its HUM AN RIGHTS ISSUES AND TWO TIER RESIDENCY LAWS. Its a racial state!! and for a place that doesn't treat humans at parity cannot be a place to invest, that is one of the reason and the major one. Like I said you will one day have to stick makhtoums face in your houses, like you have to have it in all business premises. There I proved you wrong again that i was all abt money.

Read this if you find time...and you will never say anything nice about dubai. A country if it still practices slavery and doesn't treat its human kind with fairness should be made to suffer. Now if you have any sense read this article and come back with some sensible pointers and stop wasting forum space ,i am beginning to feel sorry for you and your intelligence.

The link below takes you to the page where this discussion is going on on this forum, how comes you haven't posted anything there?? scared or you just don't have anything useful to say??

http://www.propertyforum.com/forum/dubai-property/12548-dubai-property-market-falling-apart-finding-level.html

This link is how shameful dubai is...

The dark side of Dubai - Johann Hari, Commentators - The Independent

My god,I knew u were bitter and twisted but you really have proved it with this load of crap.
I invited you to say some good things about Dubai yet all you can do is come out with this crap.You're so bitter at losing out in Dubai u are trying to soil its image by posting bull**** newspaper reports from the racist english media.How pathetic u are.
Why dont u post the bull**** travel report from the guardian recently where the journalist slated Dubai but admitted he'd never been
there.He'd simply got all his info from other newspaper reports ! why dont u post the bull**** report from Germaine Greer who ripped Dubai to bits after spending FOUR HOURS travelling through it on a BUS ! PATHETIC !
If have come out with no rational reasons as to why Dubai will fail.Yet if u read my previous posts I have come up with valid points as to why Dubai can succeed.
Like I said you are simply obsessed with money.Your whole life is probably spent on trying to earn some.Others like me with more depth value Dubai for the great city it will become with is amazing projects and dont look at it from just a money point of view.
Stop coming on here just to post your bull**** negative crap without seeing the good parts of Dubai also.Put your obvious bitterness and hatred to one side
and stop making a fool of yourself.

 

[Wannaberich]

watch this clip on the link below and tell me how can you invest in a place where these savages live and rule?? you are sitting on a time bomb...YOU HAVE BEEN WARNED.

ABC News Exclusive: Torture Tape Implicates UAE Royal Sheikh - ABC News

Are u so stupid u dont know the difference between Abu Dhabi and Dubai ? !

 

[TommyC]

Are u so stupid u dont know the difference between Abu Dhabi and Dubai ? !

It's 100km down the road, if you are suggesting that the culture of Dubai is different in this countries ongoing ego-race, then I suggest you have a look around. This is still not a democracy and will never be, the people with the power are protecting their interests by making up their own laws to suit their needs, however weird they apparently may be. This charade and propaganda they are putting up is merely an attempt to please the outside world because they are interested in the money, they couldn't care less about all the extra people they have to deal with because of that greed. Well, considering the increasing amount of marriages between local men and expats not everyone seem to mind, but then again....they are not the ones making the decisions anyway. The day the ones in charge start deliver on all those fancy words are still far away in the future...

"all rules, policies and procedures were followed correctly by the Police Department."

I'm sure they were: Rule/Policy/Procedure 1: Sheikhs and everyone they know and/or care about can do whatever they want, they ARE the law. Done. This place is corrupt and will always be corrupt.

What I can't get a grip on is your interest in this forum; You don't live in Dubai and you don't work within real estate according to your own claims. Still your posting links to photos and promoting/defending Dubai as much as you can. Every now and then of course you have to say something "neutral" to not lose all credibility but then again...everyone who has their own first-hand experience of the treatment you get are merely here to hurt Dubai? As far as I can tell you are part of the propaganda machine trying to cover up the obvious shortcomings.

Maybe it's time for you to come forward instead of hiding behind the anonymity of your DoBuy name. Funny name by the way, you could almost belive the name itself is a way of promoting buying in Dubai. So, if you don't live here, and are not involved in the propertymarket in Dubai, I suggest you stay away from this forum. Maybe time to move on to the Spain section instead, I'm sure they could use some encouragement.

 

[stumbled]

Are u so stupid u dont know the difference between Abu Dhabi and Dubai ? !

Are you that stupid to know Abu dhabi just rescued Dubai with 10bil?? have you any information how they opposed dubai on granting 5 year residency visa, are you that stupid to know dubai has debts of 107% of its gdp, are you that stupid to realise dubai is only solvent cause of abudhabi....I am sorry, but ur the only stupid on this forum trying to act positive cause you are so in debt with your ONCE AGAIN STUPID investment you would prolly dance on the streets of meena bazzar telling everyone , '' hey recession what recession, we are a boom town...we have it all''. Told you,everytime you speak you make dubai sound worse. Do yourself a favour and pray....Abudhabi controls dubai and I am sorry your makhtoum horses have failed you, have you heard all that glitters is not gold?? well, thats dubai for you and the problem here is you haven't lived through a recession and for someone like you even after you lost everyhting you would still shout, what recession cause you have an ego which you don't know how to protect, you know why?? cause you don't have the knowledge about anything, no one has supported you so far on this forum, I think you should realise you are full of it....Dubai hasn't got anything positive, if you are treated like s*** and a second class citizen, all you have seen is the surface of glittering gold and you don't know its coated on brass. Someone like you accepts it, i am afraid I find that repulsive and against my principles, to make money in a place which is stained with human slavery and blood, thats sad.

 

[Wannaberich]

Are you that stupid to know Abu dhabi just rescued Dubai with 10bil?? have you any information how they opposed dubai on granting 5 year residency visa, are you that stupid to know dubai has debts of 107% of its gdp, are you that stupid to realise dubai is only solvent cause of abudhabi....I am sorry, but ur the only stupid on this forum trying to act positive cause you are so in debt with your ONCE AGAIN STUPID investment you would prolly dance on the streets of meena bazzar telling everyone , '' hey recession what recession, we are a boom town...we have it all''. Told you,everytime you speak you make dubai sound worse. Do yourself a favour and pray....Abudhabi controls dubai and I am sorry your makhtoum horses have failed you, have you heard all that glitters is not gold?? well, thats dubai for you and the problem here is you haven't lived through a recession and for someone like you even after you lost everyhting you would still shout, what recession cause you have an ego which you don't know how to protect, you know why?? cause you don't have the knowledge about anything, no one has supported you so far on this forum, I think you should realise you are full of it....Dubai hasn't got anything positive, if you are treated like s*** and a second class citizen, all you have seen is the surface of glittering gold and you don't know its coated on brass. Someone like you accepts it, i am afraid I find that repulsive and against my principles, to make money in a place which is stained with human slavery and blood, thats sad.

You're full of **** and Im bored with your rantings.Go away.You have nothing constructive or interesting to say.