Well - fact is, that my HSBC Bank Manager keeps calling me every fortnight now, and tries desperately to sell me some appartments "at new bilding sites - soon to be finished" at repeatedly LOWER prices!
Firstly, the 2 bd.room appartment was up 4 sale for 850 thsd. Dhm -but nobody wanted it, then 810 - and now i would get it for 750 something - 95 % financing (!!) negotiable !! How bad is that !?
the appartment prices are obviously already on the downturn, as my colleagues confirm, who can't sell their investments at the Dubai Marina with profit anymore (bought right at the peak ...
, and are now stuck with their investments and have to cover the installments !
Ergo: The bubble will probably not burst rightaway - but it's definitively starting deflating by now - significantly - definitively at the appartments, whereas god located villas might be able to keep up their prices (NOT value!!) slightly longer - due to less oversupply there ...
wait another 1-2 years, and You wull see the prices coming back some 30-40% for sure
