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Supply, Demand and Market Crash in Dubai

Discussion in 'Dubai property' started by georgihh, Jul 20, 2008.

  1. georgihh

    georgihh New Member

    Supply – reasonable just to cover the demand
    Demand – enormous
    Market Crash – not possible because
    1. A lots of old residential areas are being demolish
    2. Financing of the properties is still not at the reasonable rates (currently 8-9% should be 5%)
    3. Too much money around town

    Prices will go up by another 50%, before stabilize and whoever wants to make 50% in one or two years should buy now, never mind all the speculators who double the money in just a month
     
  2. mpat

    mpat New Member


    georgihh

    I agree , but those people who are speculating and making millions in months will again call it ' market crash ' becos of their profit being squeezed.

    bye
     
  3. savais

    savais New Member

    Georgihh, what caused you to change your mind? If I remember correctly, you were very sure there was a huge market crash coming and you were telling everyone to wait until the fire sales to buy properties on the cheap. Did you read something that changed your mind? Very happy with this news.
     
  4. georgihh

    georgihh New Member

    Yes at one stage I was thinking logically and couldn’t realize that the logic doesn’t exist in Dubai.
    Now I know that nothing applies to Dubai whatever happens in the world.
    Before I didn’t know that so much cash is circulating in Dubai – now I know
     
  5. savais

    savais New Member

    What properties have you bought in dubai? are you planning on holding till completion? thereafter, renting out or selling?
     
  6. georgihh

    georgihh New Member

    I have bought 2 in IC and one in SO. IC is handed over and SO is almost finished.
    Next year I will rent them all out and the investment of 300000$ will generate me 5000$
    Per month.
    Than I will pack up and go enjoy with my family somewhere else.
    I do something else for living but the above rent will give me enough financial security almost everywhere in the world apart from Dubai.
     
  7. Yasir

    Yasir Banned

    Have u rented the International City Apartments ??
     
  8. georgihh

    georgihh New Member

    Yes one the other one is for me for now
     
  9. Yasir

    Yasir Banned

    hmmm .. Okay ..
     
  10. Roshan

    Roshan New Member

    Cash flow coming in every month is KING. I believe in the concept of renting out and money coming in every month.

    Once you have the financial security, you can stop working and do what you feel like doing.

    Good luck with your investments.

    Regards

    Roshan
     
  11. georgihh

    georgihh New Member

    Thanks Roshan I hope is going to work for couple of years
     
  12. Wannaberich

    Wannaberich New Member

    georgihh where in silicon oasis did u buy as I have units there also?
     
  13. georgihh

    georgihh New Member

    La Vista – is moving fast now and should be ready by the end of next year.
    One bedroom for 600000 DHS
    If you have something ready or almost ready and it is a good price Let me know.
    My priority is rental – I am not concerned about the location and quality but good rental percentage
     
  14. Demoniise

    Demoniise New Member

    hi.

    I am also interested in rental if anyone knows any good properties coming onto the market fairly priced let me know.

    Whats the price of LA vista these days georg?
     
  15. georgihh

    georgihh New Member

    I think is just under 1000 per sqft I will find out
     
  16. Wannaberich

    Wannaberich New Member

    I have a studio at Palace Towers by TAMEER.A great development which is ahead of schedule and should be ready around December.Sq Ft price 1200.
    La Vista I thought was alot more than 1000 due to the great payment plan which normally makes these kind of projects expensive?
     
  17. JOHNNY-D

    JOHNNY-D New Member

    stop working!!??


    cool, Roshan. WELL SAID.
    that's my dream, i wanna make a great investment in Dubai properties world.
    i wanna go to duty one day AND RESIGN.
    damn! that's my dream :rolleyes:
     
  18. Roshan

    Roshan New Member

    How about buying your boss's company :D

    Regards

    Roshan
     
  19. stylinexpat

    stylinexpat New Member

    $5000 goes a long way in most countries other then Dubai. This place has seriously become too expensive to live in..
     
  20. georgihh

    georgihh New Member

    5000$ is nothing for Dubai
    10000$ is ok but not for long
    I remember 6 years ago my salary was 3000$.
    We had a luxury one bedroom in Dubai for 28000DHS per year and the school fees was only 12000 DHS, pint of beer was 12DHS even the petrol was cheaper, food has doubled
    Today the same one bedroom is 100000DHS the school is 36000DHS and the bear is 29DHS.
    Not very long time ago Dubai was a paradise.
    Next year the prices will shoot up by another 30-40% and Dubai will become as one of the most expensive cities in the world.
    Unfortunately a lots of taxes will be implemented including rent cap and tax on profit.
    This might cool the economy for a while but the trend is prices going up up up
     
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