Can Dubai withstand the heat?

[georgihh]

All of us are used to the temperatures around 45-50 degree and we take it without pleasure but not difficult anymore.
But now we face another heat coming from Europe and America
The financial, the property and the credit wind.
If no money pouring in Dubai how long can the market survive -6 months?
DFM has already started to melt what’s next?

 

[Wannaberich]

I don't believe Dubai cannot be affected by the credit crunch.The UAE stockmarket is suffering badly.I think property prices may slow right down suddenly.
Perhaps the boom has finally come to an end?

 

[rudeboy]

does this affect the other states like RAK, Ajman where prices are relatively low? or are we talking about the whole of the UAE here??

 

[Wannaberich]

Every corner of the globe including Rak and Ajman.Just my opinion.
Now with Ramadan over and Cityscape just begun,this is where prices should start to rise again.If they dont then u know the UAE has been hit by the credit crunch.

 

[Roshan]

All of us are used to the temperatures around 45-50 degree and we take it without pleasure but not difficult anymore.
But now we face another heat coming from Europe and America
The financial, the property and the credit wind.
If no money pouring in Dubai how long can the market survive -6 months?
DFM has already started to melt what’s next?

Dubai will be affected with the worldwide recession. We could be looking at a correction.

A vibrant real estate market like India where the supply is absorbed by the inland demand is feeling the effects, then Dubai which could be considered an emerging market when compared to India should feel the melt down.

Check out the attachments. This is not to cause worry but definitely food for thought.

http://www.nytimes.com/2008/10/05/world/middleeast/05dubai.html?pagewanted=1&_r=2&hp

Realtors cut property prices by 25% - Business News - News - MSN India - News

Regards

Roshan

 

[georgihh]

Every corner of the globe including Rak and Ajman.Just my opinion.
Now with Ramadan over and Cityscape just begun,this is where prices should start to rise again.If they dont then u know the UAE has been hit by the credit crunch.

I don’t know about Ajman but RAK will be hit.
Dubai will have some corrections.
But longer the crisis last more danger for the property market to go down.
It’s up to America now how fast they will come out of the s****t.

 

[Roshan]

I don’t know about Ajman but RAK will be hit.
Dubai will have some corrections.
But longer the crisis last more danger for the property market to go down.
It’s up to America now how fast they will come out of the s****t.

If Dubai will be hit, then Ajman & RAK are no exceptions.

Regards

Roshan

 

[Wannaberich]

Every day I turn on the news and it seems yet another bank is in trouble.In the case of Iceland,the whole banking system is at risk.Hopefully this is as bad as it gets and now things will get better.If not then we all need to start praying.That includes anyone in Dubai.

 

[monsi]

An alternative view might be that people who are looking for a home for their money may look to the Middle East.

The Muslim dislike of interest giving and taking may have protected these areas from being caught up in a avalanche triggered by high levels of ill-conceived lending.

The economies that are getting a kicking at the moment are ones that are based on a foundation of money lending. People with actual cash still need places to invest (or hide) their money.