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XPClone · Mar 30, 2009

With prices coming down on property in Dubai would you consider buying property here this year? With prices forecasted to to drop further this summer do you think it would be wise to buy a property?

I have rented since being in Dubai and instead of renting again I was considering buying a place at the end of the summer? What do you think?

Captain Australia · Mar 30, 2009

According to these guys don't buy yet.

Dubai residential property prices, down 34 percent from their peak last year, are likely to fall a further 20 percent amid a decline in the emirate’s population, EFG-Hermes Holding SAE said in a report.

“Supply will far outstrip demand as the overall population declines,” analysts Sana Kapadia and Jad Abbas said in the report. “Minimal immigration is expected, especially due to the sharp contraction in the real estate and financial sector.”

The forecast comes as a squeeze in global credit markets last year slowed development in the emirate, home to the world’s tallest building, most expensive hotel suite and largest manmade islands. Dubai property prices are expected to “stabilize” in the first half of 2010 and may start rising by the second half or early 2011, EFG-Hermes said.

dresden · Mar 30, 2009

I wouldnt touch it with a 10 foot pole unless you are:
1. getting an amazing deal..
2. willing to hold onto the investment for a decade (or two!).

We should have a lot better picture of the "bloodbath" after the 1st half of this year. The sand would have settled by then, the direction of the emirate will be a little more clear.

RobbyG · Mar 30, 2009

Love the quotes Dresden.

"10 foot pole", "bloodbath", "sand would have settled by then".... haha :lol:

First of all; What kind of sick creature are you poking with that stick,
and second; How many bodies does Mo have 'to dig out of the desert' before his vision can be enrolled again...! :lol:

Red Chief · Mar 31, 2009

Wait until 2011, according to my experience of another crisises...

RobbyG · Mar 31, 2009

Red Chief wrote:Wait until 2011, according to my experience of another crisises...

A Russian crisis perhaps ?

Just read a piece of the current crisis in Russia. Boy those people have major crisis' every 10 years. Thats tough.

dresden · Mar 31, 2009

RobbyG wrote:First of all; What kind of sick creature are you poking with that stick,
and second; How many bodies does Mo have 'to dig out of the desert' before his vision can be enrolled again...!

RobbyG · Mar 31, 2009

allrighty then.

This is a russian creature of creation.... dead body walking

If Mo finds these in his backyard, nobody will ever build there anylonger.

Orlex · Apr 03, 2009

..so here is a bunny lol..... that is some funny sh@t..... 1000%

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