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Does it make sense?

Discussion in 'Dubai property' started by georgihh, Oct 21, 2008.

  1. georgihh

    georgihh New Member

    Prices to drop by 25% next year.

    If the property market doesn’t improve in the next 2-3 months expect big price drop early next year.
    I have spoken to a lot of people and nobody wants to buy at the moment or sell for less than the market price.
    Already 4-5 months nothing is happening.
    I think 2-3 more months and people will start giving up.
    Already 500 billion dirhams out of the country.
    Let’s see how far the comedy can go
     
  2. Dubai0Guy

    Dubai0Guy New Member

    well we are selling plenty however we dont do cheap areas. More iconic developments. I dont believe dubai property market is so soon away from a correction like that. more people from the west are migrating to dubai to work. they need homes.
     
  3. Fran

    Fran New Member

    You are maybe new around or just spoke to the wrong people. Cheer up!
    We are in Dubai :D and looking towards Abu Dhabi
     
  4. Wannaberich

    Wannaberich New Member

    'Prices to drop by 25%'

    I agree.However I think this will apply to the many unrealistic high end prices out there.Launched at 5000psf etc.

    'I have spoken to a lot of people and nobody wants to buy at the moment or sell for less than the market price'

    When you say alot of people,unless you have spoken to at least 200,which I doubt,then 10/20 people doesnt give a good indication.Especially if they are construction workers.

    'Already 4-5 months nothing is happening'
    Its called,'Summer' and 'Ramadan'

    'I think 2-3 more months and people will start giving up'

    Giving up?U mean like jumping off tall towers and overdosing?

    'Already 500 billion dirhams out of the country'
    Read a number of reports and they will tell you about all the money that will be coming into the UAE from the US and Europe.
     
  5. iced

    iced New Member

    Prices generally are falling so far around the 5-10% due to exchange rates, lack of buyers, finance, visa changes etc.

    Price falls of around 25% are most likely and i think even that is conservative altough it may take a while. this maybe a problem for people buying late but the early buyers will still show great profits
     
  6. georgihh

    georgihh New Member


    I am sorry for all the honest people who have bought recently off plan properties in UAE.
    Is going to be a long long wait and maybe a considerable loss.
    And most of the people are bringing money from overseas and is very difficult now with the credit crunch and the strong $.
    End of the day is up to the government to save the property market.
    I am sure they will but up to what extend
    15-25% drop in prices is not going to hurt much I hope is not going to be more
    Have you noticed that during the summer everybody tried to increase the prices and now they are kicked back.
    The prices will go back to the prices yearly this year
     
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