K-Dog
arniegang
Sage
Quote:
- Flats
Posted by Saeid on Tuesday 3 February 2009 at 22:18 UAE time
We stopped payments on two flats. Lost 120K. But it was a good decision. We could buy the same two flats now for 35% the original price. We are making payments on another flat also. But considering stopping payments on that one too. It makes no sense paying for a flat that is coming down in value by the day. I think within a year we will see prices down by 80% UAE wide.
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mate , this is an example of what is happening in "off plan" sales re our discussion in other thread.
arniegang
good find dog
and it will continue to grow and grow. see my post above, i bet within 6 months there will be hardly any residential construction in progress as more and more people pull the plug on their purchases.