Hy mensa boy et all ---
i really don't know what You guys are taking to come up with these ridicolous figures like 70 % profit in 9 mont h-
the harsh fact is, that over-priced properties are already DECLINING significantly since some time - just villas are doing slightly better!
in the Marina & especially in the JBR-Area, prices went already down over 25% from its highs, as NOBODY wants to live in this crappy & dirty ghetto - with just one overprices Spinneys, but several russian hookers in every building anymore; with cheap-built highrises popping up like mushrooms everywhere, closinging the last green spots (if any!) there- just to stay half empty for years after completion (2 years after plan) thereafter & no green garden nowhere left for the kids to play ..
most Appartments in the Marina are just impossible to be sold unless massively discounted, as the nice water-Channel is now obstructed by another line of cheaply built stadardized high-rises - more dirt, noise & pollution right in everybodys neighbourhood! plus massive building quality issues for example in the JBR:
massive cracks in the basement & walls & consecutively several broken water pipes & sewage hoses - a total nightmare & owners desperate to get out of their ownership - wiping out their gains by doing that!
That's jsut why emirates put their new pilots in this new concrete ghetto like "Lake towers" as nobody else wants to live there - just like the 60% unsold nightmare-ish Burj Dubai - an isolated &ghostly place !
Villas in Springs & Greens & Arabian R.or Green Comunitiy doing however much better in the downward trend now, but are already losing as well from its highs, as building and quality issues require now - after merely 4 years time - massive renovation costs (new heating, new c a/c etc. pp, cracks, detached terasses, cracks in the pools etc.); not to forget the skyrocketing municipality costs - up betwenn 80 and 150% in the last two years in most areas!
So - anybody still considering to buy must be outright naive - to put it mildly - Realize it & face it - the boom & party in the sandpit is over
- worse to come - Not for me - i'm gonna go back to europe asap - i just had enough from these greedy clowns here! You bet!
