Dubai Forums Dubai Expat Forums Accommodation in Dubai

here is another article re-enforcing that the property prices in the key areas are not going anywhere but up !

http://www.business24-7.ae/cs/article_s ... ineID=2128

And yet another article reinforcing that:
FROM DUBAI CHRONICLE !!!! NOTHING TO DO WITH ME !!!! NO CREDIT REQUIRED !!! FROM THE DUUUUUBAI CHRONICLE!!! OK !!!

DUBAI CHRONICLE :
12 February, 2008
Dubai crash fears unreasonable


Experts looked to calm fears that a possible market crash could stunt Dubai’s impressive growth on Monday, arguing the emirate’s expanding population and sound economic fundamentals would sustain future growth.

Speaking at the Dubai International Financial Exchange (DIFC), a panel of experts argued that the expansion of Dubai’s market, particularly in the real estate sector, was not in imminent danger of “bursting” as it is underpinned by sound economic fundamentals.

“It is easy to come to Dubai and look around at all the cranes and think that it’s all a bubble waiting to burst,” said Farouk Soussa, director for Standard & Poor’s sovereign ratings division. “I would caution against taking the ‘bubble’ approach,” he said.
Soussa said the region’s high population growth, expected to increase at close to 10% over the next decade, ought to sustain high demand for residential property and service the needs of the expanding economy.

“If you take the UAE as a whole, there are few pitfalls from a ratings perspective” Soussa told ArabianBusiness.com after the official discussion.

Speaking specifically about Dubai and the level of debt the emirate has taken on in order to fund its expansion, Soussa said he remained confident the emirate is on sound footing.

“While it [Dubai] does have a greater debt than some of its GCC partners on a gross basis and even on a net basis, it is certainly not disproportionately greater, or not even as great as some of the more highly rated countries in the west,” he said.

Sousa emphasized the emirate's strong growth in real estate as a sound economic fundamental, saying that supply bottlenecks will be serviced by the large amount of new inventory coming on to market in future months.

Adding to Soussa's comments, Jan Willem Plantagie, regional manager for Standard & Poor's in the Middle East, pointed toward the growth opportunities in emerging markets as a key driver in attracting international investment capital.

“Dubai will continue to be a gateway for both global investors seeking to maximize returns in emerging markets and for regional investors looking to grow abroad,” Plantagie said.

The diversification of Dubai's economy and its repositioning as a finance and tourism hub would also add to the underlying strength of the record GDP, currently at around 13% in real terms, he said.

Asked when a possible correction in the regional markets may occur, if at all, Plantagie said any answer would be “pure speculation” adding only that the situation is “being eyed very closely” by investors.
---------------------------

A friend told me that a house in Dubai can cost from 50.000.000 aed to 300.000.000.000aed, is that true? i hope one of you answer me im so curious.

3 million aed up to 45 million aed for villas

as an architect,

dubai's got great buildings, great vision, very poor infrastructure that i hope will be improved at some stage..

but at the end of the day, all these buildings are vacant, and i dont see in the foreseeable future, enough people coming to inhibit them... at least not in my lifetime.

this will cause a massive slump in the real estate market... dubai's not being exactly smart about it all, but one would hope they would learn from models of other countries that started doing the same thing and slow down and pay a little more attention to consumer demands, rather than just building huge landmark after huge landmark.

Alex1111 wrote:Bonk your an idiot.

Oh good. I wasn't sure about that myself.

ebonics wrote:as an architect,

dubai's got great buildings, great vision, very poor infrastructure that i hope will be improved at some stage..

but at the end of the day, all these buildings are vacant, and i dont see in the foreseeable future, enough people coming to inhibit them... at least not in my lifetime.

this will cause a massive slump in the real estate market... dubai's not being exactly smart about it all, but one would hope they would learn from models of other countries that started doing the same thing and slow down and pay a little more attention to consumer demands, rather than just building huge landmark after huge landmark.

Don't you think the remark "very poor infrastructure" is over the top?

Cristin wrote:A friend told me that a house in Dubai can cost from 50.000.000 aed to 300.000.000.000aed, is that true? i hope one of you answer me im so curious.

I will take 10 then thank you

No if your friend was talking about villas, he is waaaaaaay off. The cheapest I have heard of was 1.5 million and that was a year ago.

In fact, even studio apartments that you can buy would cost you at least 400k as far as I know. Though most likely even more.
But I sense that your friend was talking about the yearly rent for apartments, not the price of the place. In that case he/she would be spot on as that is pretty much the range you would find depending on the type.

sage & onion wrote:

ebonics wrote:as an architect,

dubai's got great buildings, great vision, very poor infrastructure that i hope will be improved at some stage..

but at the end of the day, all these buildings are vacant, and i dont see in the foreseeable future, enough people coming to inhibit them... at least not in my lifetime.

this will cause a massive slump in the real estate market... dubai's not being exactly smart about it all, but one would hope they would learn from models of other countries that started doing the same thing and slow down and pay a little more attention to consumer demands, rather than just building huge landmark after huge landmark.

Don't you think the remark "very poor infrastructure" is over the top?

depends, what are we comparing to?

compared to any developed nation, its a joke.... the day i got here the airport was struggling to cope with a bit of heavy rain, the streets were then flooded. how on earth can you ignore a guttering system in something as crucial as an airport??

id hate to think what happened to many other buildings being pelted with rain flat stick with no guttering...


public transport?

no underground system?

the streets of dubai not sustaining its own traffic? it takes you 2 hour to get to and from a meeting in dubai these days. abu dhabi's probably worse in terms of town planning, its like a catacombs between blocks with cars parked everywhere, all different directions.. i can go on and on.


i think poor infrastructure is rightfully so - if you think otherwise, maybe you havent experienced the dubai i did.

dont get me wrong, they seem to have all the right ideas for the future etc, but they're not prioritizing in terms of their town planning...

ebonics wrote:dont get me wrong, they seem to have all the right ideas for the future etc, but they're not prioritizing in terms of their town planning...

Town Planning...they will implement that part when every mega projects they have planned have been built. like A-Z procedures but instead in Dubai its B-Z then A.....

reviewer wrote:

ebonics wrote:dont get me wrong, they seem to have all the right ideas for the future etc, but they're not prioritizing in terms of their town planning...

Town Planning...they will implement that part when every mega projects they have planned have been built. like A-Z procedures but instead in Dubai its B-Z then A.....

truth

painful truth... i had this dream that this place is a super-power, super-efficient, every second lost is worth a million dirhams down the line...


my was i let down.

Ebonics -
Totally agree. It doesn't take a genius to recognise that Dubai is slowly choking itself on it's own traffic. "too little, too late" is something that I have heard time and again for the city. Town planning is a joke.

Actually, planning is a joke, come to think of it......

AD is not as bad. Sure, the traffic gets bad, but nothing compared to the car park of SZR everyday. There is a move afoot to totally alter the main arterial road from city out - an extension of Salam Street for those that know - but that will require some real careful planning if things are not to go t*ts up.

Again, you need onyl travel as far as Doha to see AD 10 yuears ago. They are struggling with infrastructure already and that is drastically reducing the effectiveness of any expansion to the city.