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Silence before the storm - Good or Bad

Discussion in 'Dubai property' started by dubister, Sep 20, 2008.

  1. dubister

    dubister New Member

    I have been wondering why there is such quiteness in the air... I wonder if this silence before the Cityscape will bring about a storm, as in takeoff of the property market here again, or the otherwise... I wonder.... With all the news now a days, it is quite hard to predict.... What do you guys think?!:confused:
  2. georgihh

    georgihh New Member

    Is not going to be a storm will be a nice winter when the market will settle down.
    City scape is only 3 days. After that everything goes back to normal.
    Some prices will go up but some down. The storm was at the beginning of the year now we are still cleaning the damages will take tame before the next hurricane
  3. djaan

    djaan New Member

    here in pakistan many people are confused and today a newspaper had a very bad news that the Dubai property is already 30% down and many builders and Brokers dont tell the public because if they tell them how can they sell but anyhow i know many freinds who went to work there are also heading back home and say that there is absolutely no work in Dubai and the realty market is very slow if this happens than it will be very bad for us investors and iam trying to sell my units since 4 months and i cannot sell so this means very bad weather for us in the future.

  4. georgihh

    georgihh New Member

    30 % down from where – some prices went 100% up in the newspaper so 30% down is not accurate
    What are you trying to sell and for how much?
    A population cleansing is going on in Dubai at the moment and the target is 7% grow up per year. There are jobs but most of the jobs are created out of nothing and this business is slowing down
  5. junaidrafique

    junaidrafique New Member

    30% down is absurd. But people panic selling and properties not selling easily is accurate. I think this is for 3 main factors: first is its Ramadan so many investors still not in the country, second is scare mongering because of the new resale laws coming in to effect, the third is investor confidence is down due to the global market condition.

    However, it just means that people will have to change the way they view their investments in Dubai. They will have to understand that false hikes and artificial growth of prices is unsustainable and that natural increases in price are more sustainable and conducive to long term prosperity.

    What investors have to understand is that people are still availing 0% tax, the UAE is still an emerging market and a strong tourist attraction and as long as this is the case then their is still plenty of money to be made, but just not in the same way as before.

    It just means investing carefully and wisely.
    medium term people medium term!
  6. georgihh

    georgihh New Member

    Actually the statistic shows that the Pakistani people are 20% percent of the investors in Dubai.
    And if those people think the same way as the guy above is very bad news. They can severally damage the market especially when Pakistani currencies went down 30% in 6 months
  7. junaidrafique

    junaidrafique New Member

    Yes but this 20% are speculators who arent inerested in sustaining long term growth. The market is better off without them for the time being until things settle down and their is natural correction and steady organic growth. Its simple the higher you throw a ball in the air the harder and faster it comes down. the lower the ball is thrown the easier it is to catch and the softer the landing.
  8. georgihh

    georgihh New Member

    I presume you are from UAE if not your post doesn’t make sense
  9. junaidrafique

    junaidrafique New Member

    Me coming from the UAE has nothing to do with it. The market overheating and leading to sharp corrections due to the greed of a few speculators isnt in anyones interests. Dubai is still a strong market with huge potential where everyone can still make money if they are sensible. People are just scared because of a change in the market and change always scares people. But change in this case is a good thing not a bad one.
  10. georgihh

    georgihh New Member

    Whatever goes up comes down. The soft lending is needed, but you should have not thrown the ball so high at the first stage. I understand that Dubai can not grow with such a speed and the corrections are needed. Some people will burn very badly maybe me I don’t know but that’s life – a life with no surprises is not interesting
  11. junaidrafique

    junaidrafique New Member

    I sincerely hope you don't get burned and as far as I'm concerned the fewer the suprises the better! Even if there is a correction and you lose money you'll make it up in the long term. You just have to wait longer to make the money back and then profit. Anyway the market is on the verge of being run by end users and speculators will have less of a say. Its the evolution of Dubai coming to a head. My suggestion is that if you want to make quick cash in short time periods either buy ready property and villas, or buy up property on the brink of handover. The demand for ready property is still high and especially for villas. You can't go wrong with so many visa applications pending and not enough supply. Simple economics. If you want me to help you with some investments then just let me know!
  12. JOHNNY-D

    JOHNNY-D New Member

    the storm is gonna hit Dubai in the end of this year, ledies and gentlemen. I can tell. Time will tell.
  13. Investoman_uae

    Investoman_uae New Member

    I been selling my abu dhabi al reem island apartment for 14% premium for a while. I reduced it to 10% since few days back.... that should sort things out.

    The market has definatley slowed down and i expect it to mature and grow at a gradual rate. The new laws are created around these rules... so i advice all investors to start to increase their term. . start to think more long term..... perhaps even buy-to-let.... and also stop being greedy.

    I have no problem reducing prices, .... i was advised to put it at 14% then advised to go lower.... so I did that. Simple!

    The market will not crash, i repeat, IT WILL NOT CRASH INSHALLAH..... because you all want to live here and you know it. You are better off here than in your countries... and YOU DAMN KNOW IT. So this is the case with all of us. .. we love this country and we want to live i say this market will continue to grow. . .demand for housing will be there..... i just sometimes think that we are building too much too quickly..... i mean the number of projects launched needs to slow down.

    The government should slow down the supply because the last thing we want is a lot of empty towers with owners who just buy to sell and not to live.

    Last edited: Sep 22, 2008
  14. georgihh

    georgihh New Member

    Too much too quick – yes that’s the reality
    But if you stop building, what the people leaving in the towers are going to do?
    This is the only profitable business in Dubai at the moment. Tourism is died; DIFM is still a baby, Trading is Ok but can’t grow much more and has a limit.
    Until people start coming to Dubai as a world tourist destination no.1, and DIFM grows up will be a bad timing.
  15. Roshan

    Roshan New Member

    Nobody can predict property markets, but don't you think the prices are very high and a certain calm needs to come in. I feel that time has come, just an opinion and not a statement.


  16. Wannaberich

    Wannaberich New Member

    Is there a noticable increase in activity when Ramadam finishes?
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