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This is funny


Stylinexpat They have so many homes being unloaded in Dubai onto the local market in Dubai that stopped taking listings for homes for sale in Dubai. I tried renewing or updating my apartment that was listed for sale only to be told that they were no longer taking any more listings for Dubai. Is that FU**ED or what? What kind of a real-estate agency that has a website stops taking listings for units for sale in their own country or city? They are now only taking listings for homes or other listings abroad. I see a big bubble waiting to burst!
MaaaD interesting .. but it might be a technical reason that they arent taking more listings. Stylinexpat
I would have believed that had they stopped new listing all together rather then allow international listings and not local listings :wink: jabbajabba How does that map to a bubble burst? Stylinexpat
More projects coming out and more homes coming out on the market without buyers and all those homes or apartments out on the market (at least most of them) need to be payed of by the time the building is ready for move in as no local bank will finance you untill the building or unit is ready with the exception of some Emaar projects. There are so many sellers now on the market that even companies like Gowealthy aren't taking any more sellers on there list from Dubai. Look at the Gulf News paper and see how many sections there are for homes for sale. You name it "Freeholds, Classifieds, Villas, Apartments,etc.." and they are all either for sale or rent. If they are available for rent then the rent is usally high because the last dude got kicked out or moved out due to high rent and if the place is for sale it is most likely that they dude can't keep up with the payments for a unit that is not ready. A friend of mine lived in the area around Burjuman Center just down the road past the Spinneys and her rent used to be 85,000 Dhms. Per year for a 2 bedroom apartment and her rent just got jacked to 120,000. she had to move out. Her landlord (a local of course) told her to either pay the new rent or move out. The year before last year her rent was 65,000 Dhms. per year. So it went from 65 to 85 to 120K. Amazing, they won't eat meat if it isn't Halal but the money that buys that meat doesn't have to be Halal :roll: alexandra
:lol: :lol: :lol: i needed a good laugh. thanks sage & onion
Me 2 :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: asc_26
LOL. :lol: :lol: :lol:
If you own a flat, no need for you to work cos you can keep on increasing the rents and sitting pretty while waiting for the cheque to be cleared from the bank, then go shopping and buy halal foods.
:shock: :shock: :shock: sage & onion
Hey ASC, you got it worked out already :lol: Stylinexpat Let's not forget the prayers 5 times a day after that contract is signed for 120K because that's Halal money :lol:

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sage & onion
Do you actually know what "Halal" is???? Stylinexpat
(As a Noun) meat from animals that have been slaughtered in the prescribed way according to the shariah
(As an Adjective) proper or legitimate; "the fund earns halal profits in full compliance with the Shari'a"
I had meant it as an Adjective so yes I do know the meaning of "Halal". asc_26 once the contract is signed, you'll never see your landlord/s again not even for maintenance check of the unit. you'll see him/her before the last cheque will be cleared for another increase of rents. expats are working so hard to bring food on the table of the landlord/s and to finance their extravagance life style. :shock: :shock: :shock: alexandra
now asc run and hide... :lol:
i am pretty sure the comment: if u dont like it than leave the place we own the place bla bla will come up really soon :roll:
dubai is an amazing place, yet all great things come with a high price to pay :! Stylinexpat
:hello1: You hit it right on the nail. Just remember that when ever you see a rich and generous giving local, you know that someone is either being FU**ED over or recently jus got FU**ED over. asc_26 If they'll ask me to leave, alex & stylinexpat - please be my defense lawyer. :oops: alexandra
i thought that was how the word pleonasm was defined :lol: :lol: :lol:
that's really funny :laughing3: asc_26 You too be prepared, i am talking based on experience. :lol: :lol: alexandra
oh sure...piece of cake: we will just say u were not aware u have to pay the rent :lol: :lol: :lol:
case closed; we win :roll:
bushra21 I dont get it, what's so funny? alexandra
no major problem if u dont.
it was a reply to asc, i am súre she got it, didn't u hun :wink: ? asc_26 and i don't mean to hit anyone on here. it was just my opinions and of course there's always an exemption. :wink: alexandra
subtile withdrawal...u should be a politician asc 8) asc_26
:lol: :lol: :lol:
why are you so brilliant? I am practising being a diplomat, hate politics dear. bushra21
no not about your response, but about the thread topic itself...
the thread is labeled 'this is funny', but I fail to see what is so funny asc_26 Bushy nice avatar.. :D Stylinexpat
Dubai is supposed to have a shortage of homes yet the homes ,freehold, villas section of (an example) The Gulf News keeps getting thicker and thicker by the day with more and more unsold units flooding the market that even companies who allow you to post your home or apartment for sale on their website have stopped allowing people to post their apartment for sale on their website (). What was supposed to be funny was the continuous lies that continue to spread to cheat foreigners or investors in Dubai. On a free day, drive down one day to the local court house and just look at how many cases there are of foreigners suing locals. In most cases the locals win and if they don't win they are then pardoned once sentenced only to be free to commit more crimes against the expatriates living in Dubai. Even when the expatriates do win their court cases more then half of them never ever collect their money from the locals! At times I think that this city is the biggest scam ever living off of con-artists. The old saying of when something looks too good to be true it usually isn't... sage & onion
These are heavy comments to make, do you have any proof though, because on the property side the market is very active and its not as you say. Stylinexpat I and 10 other close friends have units for sale in Dubai and neither one of us has been able to sell any of them because the buyer usually does not have 40-70% in cash to put up for a unit that may not be ready for another 1-2 years from now. As you know most go from 1,000,000 Dhms. on up. So one would have to have around 500,000 in cash to buy one from another person, be able to make payments on time and be able to pay their own rent and expenses in Dubai and last but not least be an expat making good money to be able to afford this type of life and payment structure.. Take for example the Palm which has been delayed and won't finish for some time. sage & onion
I have a friend who purchased on the Palm, Off Plan, 3 years ago, had a change of heart after 6 months, went to Arabian Ranches, arranged to purchase a Villa, eventually sold the place on the Palm after another 6 months and made enough profit to pay for the A.R. Villa. Not all bad stories.
Another friend purchased in A.R. 2 1/2 years ago, sold it 6 months ago and made enough to purchase his own business back in Australia over US 800,000.00. ^ian^ What a hate filled thread. It shouldn't be moved, it should just be binned. When the market really crashes, I think we should put a lock on new memberships on the forum, because I for one don't want the place flooded by idiot investors who gloat when they're making money in this market, but whinge like no tomorrow when the pendulum swings the other way. Stop whinging, nobody has held a gun to your head and said "buy this apartment". Let's face it, you got greedy and went after the short term gain. All short term gains come to an end, and it has well and truly here. Don't blame the locals, blame yourself. I could however sell you a 10 x CD Audio tape of the great Arniegang himself giving solid property advice and how to play the market. Yours complete for 10,000 AED. (Cash only though) Bleakus what do the CD's contain? Stylinexpat
Most project developers market their projects as investments, so all of those that buy into their projects are then are greedy? In most of the downtown areas in the main city where rents are quite high, most of the apartments can't be purchased by foreigners or expats. If I'm not mistaken 95% are owned by locals and when you have monopoly then you have outrageous prices like the rates that Etisalat charges the people in the Emirates for all calls. ^ian^
I don't know, but I've got a bridge to sell. It's a really sound investment, are you interested?

Without divulging too much information, I can assure you that a good chunk of the freehold apartments are owned by expats, a very good chunk.
Now you're blaming the cost of a phone call on the market dipping. Clutching at straws?
Admit it, you didn't do your research. Dubai Knight Have had personal experience with the rent situation...however consider this: HH Sheikh Mohammed capped the rent increases to a maximum of 15% in any 12 month period. That capping expires in January 2007, leaving landlords free to increase rents to whatever levels they feel suitable or the market will accept. If your rent is paid by your company, you don't care. If, however, you have to pay the rent yourself from an all-in salary package which is increasingly the way people are employed over here, then that allowance is never going to keep pace with the spiralling rent rates and it is going to cost you to work here in a very short period of time. If you are self employed and have to cover all the costs yourself, then heaven help you! I have an idea...everyone in Dubai move to Umm Al Quwain! What would the Dubai landlords do then? Ah yes, they will charge you to enter and leave Dubai, which they are already arranging! :shock: :shock: :shock: Knight (from his compact but bijou dustbin on wheels at the side of the road in Karama...) ^ian^
The wheels of supply and demand are tilting in the other direction as we speak, albeit slowly.
In the coming 3 months, there will be a total of 25,000 - 40,000 vacant apartments coming online in Dubai, of which there is approximately 60-80% expat ownership, depending on the development.
Now, consider that the Marina is still half empty - and consider that when these apartments come online, people aren't going to be holding out for the 40% rental return and will be happy for 10%.
This won't be a crash, it's a correction. Stylinexpat Rates in Thailand using a prepaid DTAC card from Thailand to: 1) Dubai 23.54 Baht per minute $.62 in U.S.D. or 2.28 Dhms. 2) USA 5.35 Baht per minute $.14 in U.S.D. or .51 Fils per minute 3) Moscow 5.35 Baht per minute Same as U.S. 4) UK 7.49 Baht per minute $.20 in U.S.D. or .73 Fils per minute The above calls are including the 7% tax In Taiwan I get 10MB. download with 2MB. upload speed ADSL for 850 N.T. per month which is $25.75 U.S.D.= 94.50 Dhms. :D Stylinexpat
Very true :occasion5: Stylinexpat
I probably could have done a bit more research but research is limited in Dubai as many analysts aren't allowed publicly research and state research results which includes stocks and housing. I guess i'm in the same boat as all the other people that have ads in the Gulf News Paper for freeholds or what ever they are called. I like Dubai alot, just hope a few things change for the better. sage & onion
I don't think this guy really understands the market here, as the downtown apartments he is refering to are not the freehold properties that are presently being sold on the market. He is refering to the Blocks owned by locals since before this boom started. sage & onion
Agreed, same thing happened in Abu Dhabi starting with very high rents in 92 with the construction of hundreds of Khalifa Committee buildings on the go, rents were 50% in 96. Supply and Demand Stylinexpat What do you guys think of this speech?
Those damn western journalists :roll: Let the locals run the paper. Reminds me of when the local couldn't be caught for over a year and I could not place a wanted or missing person advert in the paper because the man was a local. The advert would have been approved had he been an Indian or some other national.
[color=red]"We are dealing with the reports of these organisations objectively and we appreciate whenever they bring these issues to our attention and represent them objectively," he added.[/color]
In most cases if the issue has something to do with a local one can't bring it to their attention in a local paper. Seems that it only get publicity when papers abroad start talking about it as local papers won't publish these things or issues.
[color=red]"Perhaps some of these journalists appraised the situation based on their cultural background, or some lacked the competence to judge. In any case we are not assuming bad intention," he said.
"I call on the national owners of these media establishments to bear responsibility and to employ competent nationals to run their papers. Meanwhile, it is necessary to inform and educate expatriate journalists about our culture, values and way of living," Shaikh Mohammad said.
[/color]
Again this is like saying the story would be better if it were printed or run by a local. Notice how it said to run rather then said to employ local journalists. Tha means the local would have the final say on what gets approved to be printed! I think the expatriates have a pretty good way of how the locals live.
[color=red]"We are falling behind only in two areas, traffic jams and the increasing rents which we have capped. We will overcome these issues in less than two years with the completion of the new roads and bridges and the metro project, which will reduce traffic jams and stabilise rents," he said.[/color]
There won't be a need for rent cap when all these newly built units hit the market and the owners of these units struggle to find tenants. The prices will automatically drop or crash if a huge amount of units floods the market like what happened with the local stock market when a load of shares hit the market with no buyers on hand. The index went from 1200+ points to 350 before forming a new Index. gtmash Being an Intl City freehold property owner myself (bought for cash, screw the banks), I get annoyed when some so-called newspaper-hogging analysts keep predicting a crash or fall because tens of thousands of apartments are "coming online." Are these guys lumping Dubai Marina crap and International City together? IC is the only one in demand from the middle class, and I doubt there are enough. And yes, Dubai Marina is crap. So many tiny "luxury" apartments, priced 3 times as much as IC, and right next to a freaking oil-burning power plant. Enjoy. sage & onion [quote="Stylinexpat"]What do you guys think of this speech?
As Jamal would say
He the man 8) Stylinexpat [quote="sage & onion"]
He the man alright. I prefer him over Bashar Al Assad any given day of the week. His policies though do show very clearly whom he supports. ^ian^ [quote="Stylinexpat"]
The citzens of the UAE? Wow! Who'd have thought.
Sounds like some very thinly veiled local bashing to me. I think you should leave, you've obviously been here too long. Stylinexpat [quote="^ian^"]
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