Dubai Forums Dubai Expat Forums Accommodation in Dubai

Bethsmum wrote:...
When I'm not looking at the talent, I look at the houses, absolutely fantastic.
...

Huh, I thought you're a female.

Yes, Bruce, the last time I looked I was definately a female. Now please don't tell me you are one of the those men who think ladies don't give you the once over. I can assure you Bruce, that us ladies rate you men on exactly the same terms and if any other lady comes on and denies this, she is telling porkies. PS Are you fit?

Found this back forth banter really funny.
I bought and regret it but such is life. Yep its been a loss and of course I regret the price I paif but generally speaking I think its always better to buy as long as you can afford it and are not leveraged up to your *rse.

Yes, hindsight is a wonderful thing, but some you win, some you lose, better luck next time eh?

Yep hindsight 20/20 - the good thing is I can blame the purchase on my wife as she wanted the house...even though I did as well. Anyway as someone said life is a rollercoaster and can't enjoy it if it doesn't scare you a bit.

That's the spirit, Joe. If it goes wrong blame the wife! Yes, I agree, being scared can be fun, that's weird isn't it?

Scary is fun as long as it doesn't affect bowel control....then it just becomes a mess...literally.

Anyway back on topic of property - wanted to get peoples thoughts of when/if we will see a rise in house prices in Dubai -

(a) within 2 years
(b) 2-5 years
(c) not for at least 5 years

I am probably in the (b) camp myself. I am sure opinions differ but Dubai feels a little healthier than it did last year to me. Yes still more properties coming on the market but also more people coming here than leaving now from what I understand. Maybe I am wrong. Dunno.

I think atleast 5 years, Still way too many empty ghost towns and more and more come online everyday. Will take atleast 2 or 3 years to get everything what has started to finish if they ever get finished. Economic situation is Dubai not getting anybetter and more and more people will want to cut loose.

And not more people than comming now I think, just less leaving compared to the great exodus of sometime back. Don't let official figures sway you. Even during the worse of times they were issuing positive figures !

All the bad press internationaly isn't helping either and seems like this will just get worse. Economicaly Abu Dhabi has over taken Dubai and will keep doing so. Thus adding to the downward spiral.

During my sleepless night the other night I was watching Sky news and it was talking about Dubai. I think it must be because Mrs Queen is in the region. They were talking to an expert on the middle east and he was British, a doctor of some description. He was saying Dubai is very important indeed. Apparantly it's ports are the very best in the region and for that one reason alone Dubai will survive. He also mentioned that some buildings that will never be used are to be knocked down. I don't know if he was refering to unfinished ones or ones that are finished but not sold. He was very positive indeed on the outlook for Dubai.
For that reason I would go for 2 to 5 years.
I bought my place off plan in 2003. I could have sold it for silly money in 2007/8 but was never tempted. I was never in for the quick flip but for the long term. Je ne regrette rien.

BM - yep I think Dubai is definitely important from a middle east perspective. If you have money in the region (whether you are Iranian, Iraqi, Jordanian, etc, etc) Dubai represents a good place to live and lots of my friends in Dubai have business's either here or in other parts of the middle east but choose to live here as it offers the best lifestyle for them. Hence I can't see Dubai not growing and not succeeding (probably a contentious point for many) but after whats happened it will take a bit of time for property to recovery. People and banks have short memories - Singapore has had huge falls when its bubble popped and now its back with a vengence. As long as Dubai is surrounded by countries that are an absolute mess (and there are plenty) it should in my humble opinion do well - it doesn't need to be perfect just better than all of the other more disorganised, chaotic, dangergous countries its close to.

As a side track, I've found it difficult to get finance here. The banks here ask for a processing fee up front, and if for any reason the deal isn't finalised (like as in my case the land title is delayed) then you lose the processing fee.

Yeap, bought and loss like most. Lesson learnt - buying is just as good as dead money (renting) here.

XRW-147 wrote:Yeap, bought and loss like most. Lesson learnt - buying is just as good as dead money (renting) here.

Never mind X. It could be worse right?

benwj wrote:Never mind X. It could be worse right?

That's right mate, money can always be made. Health and family are more important.

XRW-147 wrote:

benwj wrote:Never mind X. It could be worse right?

That's right mate, money can always be made. Health and family are more important.

Yep.