Bawadi Maysan, hold or withdraw?

[sally_hsu]

I bought Bawadi Maysan 1B this August from the secondary market but now I am in trouble as the market is sleeping and the next payment is due soon. I need your advice here: should I take mortgage loan (next year) and hold the property for long term or withdraw it now since I have only paid 5% and suppose Emaar can return 70% of the payment to me (could be unlikely).
thanks in advance

 

[sasherwani2]

Its an overpriced unit. Maysan will be re-released next yr and a much lower price (I expect it to go down by 40%). I wouldnt recommend you hold it but dont just take my opinion for it. As per the 70% refund is concerned, Emaar considers itself above the law and shall not obey the Law 13.
There is a group fighting for the investor's rights whereby the developer is supposed to refund you the 70% of your original deposits. I suggest you join that group.