House prices drop 41% in 90 days ? DXB ?
Thread Starter
Join Date: Apr 2005
Location: UK
Posts: 459
Likes: 0
Received 0 Likes
on
0 Posts
House prices drop 41% in 90 days ? DXB ?
BBC NEWS | Business | Dubai property prices 'fall 41%'
.
The above link shows these hugh numbers and they expect prices to slide some more.
.
Question to any in Dubai, is this link correct, any ideas of how this will pan out, at what value will the money men start buying ???
.
The above link shows these hugh numbers and they expect prices to slide some more.
.
Question to any in Dubai, is this link correct, any ideas of how this will pan out, at what value will the money men start buying ???
Join Date: May 2008
Location: Dubai
Posts: 25
Likes: 0
Received 0 Likes
on
0 Posts
yes cash is king at last
current level of mortgages are a rip off, only people interested in buying are cash buyers. there are desperate people out there and soon they will drop their prices to the cash buyers levels. Now the problem is we dont get the UA any longer so cannot even take advantage of this....
Join Date: Dec 2006
Location: KUL
Posts: 431
Likes: 0
Received 0 Likes
on
0 Posts
If it finally stops me getting up to 20 spam SMS a day whether I want to sell or rent my villa then its a blessing. I intent to just live in it. Right now they still keep coming.
Join Date: Jul 1999
Location: Stockholm / Sweden
Age: 48
Posts: 125
Likes: 0
Received 0 Likes
on
0 Posts
... well - there's No question, that the overinflated bubble /built on pure greed &sand/ finally burst .. Pffffff ...
the loss of value varies (id rather call that price than value - who wants to live at temperatures around 40ish degrees in the desert anyway - if it wouldn't be for the job/income)
worst hit are naturally those projects that reached swindling & totally unrealistic heights before - like:
business bay & especiall the iconic (&tilting) Burj Dubai, which came down well more than 40% from last summers peak values - as did the Jumeriah palm ... which is way out and not anway close to the real Jumerah -
and the posh Atlantis Hotel over there is still half empty - despite EK now offering "frre stop-overs" in the boling desert -great idea !!
However, the villas at springs, meadows etc. are keeping up quite well, as they offer decent "westery expat-livestyle" - which is definitively the opposite at the ghetto-like JBR, where apprtment prices came down even more than those posted 40 % -
as there just no buyers there for tese nightmarish monolith blocks - with a view & noise (!!) of the old Hilton bld. been demolished there since month ...
Resumee: try to aAvoid Dubai by al means - if You can - i't undeniably spiralling downwards
- who wonders/ cares anyway - definitively not me! Cheers from chilly Stockholm!
the loss of value varies (id rather call that price than value - who wants to live at temperatures around 40ish degrees in the desert anyway - if it wouldn't be for the job/income)
worst hit are naturally those projects that reached swindling & totally unrealistic heights before - like:
business bay & especiall the iconic (&tilting) Burj Dubai, which came down well more than 40% from last summers peak values - as did the Jumeriah palm ... which is way out and not anway close to the real Jumerah -
and the posh Atlantis Hotel over there is still half empty - despite EK now offering "frre stop-overs" in the boling desert -great idea !!
However, the villas at springs, meadows etc. are keeping up quite well, as they offer decent "westery expat-livestyle" - which is definitively the opposite at the ghetto-like JBR, where apprtment prices came down even more than those posted 40 % -
as there just no buyers there for tese nightmarish monolith blocks - with a view & noise (!!) of the old Hilton bld. been demolished there since month ...
Resumee: try to aAvoid Dubai by al means - if You can - i't undeniably spiralling downwards
- who wonders/ cares anyway - definitively not me! Cheers from chilly Stockholm!
Last edited by Cyberbird; 29th Apr 2009 at 20:56. Reason: type errors
Join Date: Jul 2001
Location: Gulf playing Golf
Posts: 1,141
Likes: 0
Received 0 Likes
on
0 Posts
The market will turn when the world economy recovers and the local powers come up with an incentive to lure new meat to town. People who have left will not come back. They have seen the ugly face of uncontrolled growth that turned into an inverted flat spin..
Join Date: Aug 2000
Posts: 6
Likes: 0
Received 0 Likes
on
0 Posts
Long way to go still ....
Folks ... there’s a long way to go before we see any improvements in our world here in EK/UAE. Besides the general turndown, the local greed and gluttony has come home to roost (see links below) and will take a protracted effort to sort.
Specifically in EK, the management (whoever they are) will find it very difficult to skimp and save in an already ‘low cost carrier’ type operation.
It’s going to be tough for all of us. I suggest we don’t take any of the threats (firings/condescending mails/threatening policy/poor management style etc) personally, suck it in and continue to try keep your operation safe – Oh, and still have some FUN ... like we aircrew are often despised and castigated for !
70 pct price falls loom for UAE real estate
Little chance of property recovery in Dubai this year | Middle East | News
Specifically in EK, the management (whoever they are) will find it very difficult to skimp and save in an already ‘low cost carrier’ type operation.
It’s going to be tough for all of us. I suggest we don’t take any of the threats (firings/condescending mails/threatening policy/poor management style etc) personally, suck it in and continue to try keep your operation safe – Oh, and still have some FUN ... like we aircrew are often despised and castigated for !
70 pct price falls loom for UAE real estate
Little chance of property recovery in Dubai this year | Middle East | News
