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Prices might drop as from next month

Discussion in 'Dubai property' started by georgihh, Aug 12, 2008.

  1. georgihh

    georgihh New Member

    Before we see another rally in the property prices in Dubai I think they might go down a little bit in the next couple of months until proper regulations of owning and buying properties are introduced.

    Reasons

    1. The last increase was to much and the prices should go down a little bit
    2. UK, Europe, Pakistan currencies are loosing against the dollar and people from those countries might consider cashing up and generating a huge profit.
    3. The residential visa against property should stop a considerable amount of people investing in Dubai’s properties.
    4. Lots of people I say as much 10% a very disappointed from the market, due to - late delivery, construction cancelled or not started, or not achieving land registration.
    5. Abu Dhabi will take a huge amount of capital from Dubai.
    6. There is more than enough supply of properties apart from the bottom end flats
     
  2. sasherwani

    sasherwani Banned

    I disagree, the negative sentiment is just due to a lazy summer and the Morgan Stanley report. Prices will soar again in October - from 15-20%.
     
  3. snakyy21

    snakyy21 New Member

    I think that speculator market will chill shortly as Dubai moves towards more civilized laws and lending procedures - in other words matures. The increase can not be sustained forever particularly since there are no macro-economic factors to support it. As properties become available on the market (developers finishing projects) and the number of rental units increase preventing from rental fees rising further Dubai real estate market will take a plunge. Once it happens market sentiments will change and people will become a lot more prudent with the way they invest and stop gambling or committing to something they can't sustain. A lot of poorer and risky investors will take a blow / get bankrupted.

    BUT right now.. until there is a fool willing to pay more than the other fool paid for the property it is going to be a rollycoaster.

    btw.. I did not mean to offend anyone.. nobody is fool.. it was just a figural expression.. yet it holds true.

    Anyways.. I am looking for a completed property in Dubai -either Marina or JLT... or somewhere around there (e.g. Discovery Gardens, IMPZ, etc)... if you got one and you are willing to offer it at a competitive price - then your bigger fool is right in front of you.

    You can reach me at snakyy21 attt hottmail dot com

    Regards
     
  4. Roshan

    Roshan New Member


    The days of speculating are almost over. Heard some not so good reports at the second community formation meeting we had.

    You are right with the one fool to another thing ( no offence members ) . As long as you have someone else to buy you are out. As one of the members at the meeting put it. It's like passing the parcel. You keep passing it until the music stops :D

    Regards

    Roshan
     
  5. talk

    talk New Member

     
  6. georgihh

    georgihh New Member

    Yes prices are going down and the government want interfere as they want small and peaceful country with less people.
    I am waiting to buy two bedrooms in Dubai Marina for 1000DHS per sqft
     
  7. New_Investor

    New_Investor Banned

    With all due respect i've red several of your posts and it seems that you are trying to spread a word of prices going down in Dubai market and there's no wonder why since u want to buy in Dubai marina for 1000 AED per SF :) while the current market price is above 2000 AED per SF (prices are from several market reserches e.g alienah.com) - which means you are looking for 50% decline at least in the market price heh --
    :p
    I think it's much better for the sake of all the parties of the property market that any articles posted to be neutral in nature to give a realistic view of the curent market condidtion not a personal kind of a view that might (and will Be) biased for personal reasons. ;)
     
  8. Wannaberich

    Wannaberich New Member

    I can't take too much notice of a one-off report like Morgan Stanley,I prefer to lump a number of reports from different sources together and see what they say.So far its looking like prices will continue to rise till sometime 2010.
    Personally I can see prices rising but alot slower than over the past year.Maybe 25/30% and not 80% on average.Lets not forget prices are still below Singapore and Hong Kong.
    For those looking for a quick buck maybe those times have gone.I see Dubai as a long term investment.Buy now,see you property value increase over the next 18 months then take a correction.Wait another 2 years and see prices start to rise again slowly over a few years as many of Dubais projects get completed and the population rises.
    No-one can predict what will happen.No-one saw the credit crunch in the US.No-one saw house prices in the UK tumble.No-one saw oil rise to $150 then when it did they said $200 would be next.Now its right down to $117.No-one saw the dollar get this strong this quick
    and get to $1.85 against sterling.No-one knows,everyone just guesses.
     
  9. New_Investor

    New_Investor Banned

    Well said, i agree with you.
     
  10. georgihh

    georgihh New Member

    I can buy now for 1450 dhs per sqft in Dubai marina
    If you don’t believe me open the newspapers make some phone calls and you will convince yourself
    A drop of 20 % is not far away.
    I have met some people who bought in DG and they are desperate to sell as enormous AC service charges but they can’t sell due to any buyers or not allowed to sell
    On top of that HK and Singapore are places with established markets and population and UAE still they don’t know what to do and how much to charge the pure immigrant.
     
  11. Wannaberich

    Wannaberich New Member

    Anything going for 1450 in the Marina isnt worth buying into like 'Eden Blue',
    a development run by crooks.
     
  12. georgihh

    georgihh New Member

    DoBuy – What’s wrong with Eden Gardens not that I am buying just question as so many of those crooks are around town:mad::confused:
     
  13. Wannaberich

    Wannaberich New Member


    Read the Eden Blue thread on skyscrapercity and see for yourself.
     
  14. defc0nx

    defc0nx Banned

    1450 in eden blue? ... how about 1475 in elite residence? dubai marina? ... i have one bedroom , but i would need the offer to be made first thing in the morning , and deal to be closed by afternoon , if you want it. 1475 /sq /ft ... total area is 1136 sq ft. partial sea view. for more info call me 0559322400
     
  15. Roshan

    Roshan New Member

    A forum member picked up an apartment in Dubai Marina for Dhs 1400 psf. There are deals for that price.

    The top end bldgs are at Dhs 1800 to 2000, no doubt about that.

    Regards

    Roshan
     
  16. mdevotta

    mdevotta New Member

    no good reason for price to drop

    Although recently the slowdown in frequencies of purchase transactions in Dubai has been apparent, thers is no strong reason for the much anticipated price correction. The kind investments along with lifestyle choices offered in Dubai in none like anywhere else in the world now. Just check out the enormity of all their projects..be it disney land,FI racing, tallest tower,biggest mall, man made island,tax free income,metro rail,beautification initiatives(creek) and all proposed parks.iconic buildings etc...etc...etc..in the pipeline,,, Although I still havent yet invested in this History Risen land I sincerely regret that and I am almost through with my first investment in a 2 bedroom appartment this week.

    My logic is very simple..Dubai will continue to be an action packed destination for tourists and high net worth investors. If I had all the money in the world and just a couple of days to relax my best pick to have the balance in my activities during the trip would be Dubai.

    Please be reminded that I will still not lay all the eggs in the same basket (Dubai Market). However it makes all the sense to me in the world ,,given the progress and future plans I will not hesitate in laying a few eggs in the Boom Town.

    As for those trying to flip and make a quick buck probably probably this is time for more research and caution.
     
  17. defc0nx

    defc0nx Banned



    Roshan can i please have your phone number or if you could just call me asap at 0559322400
     
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