guys...please wake up...3 years now!!! Two Bedrooms in SO 45k per year
Business fees per year 5k (to run a business)
No crime
To me looks very attractive – don’t know about you.
People are going to smell the advantages very soon ,be ready
I have been banging my head long before the bubble bursted and all i see is HOPE. I mean a famous quote comes to mind here..we_are_all_in_the_gutter but_some_of_us_are looking at the stars.
What is attractive about Dubai?
1) tax free status?(too many indirect taxes, charges and fees)
2)too many units not enough demand??well, where are the jobs?who created the jobs?it was the west, the American and the British companies, well they are totally broke.The chinese and Indians aren't dumb enough to set anything up in Dubai.Has anyone heard of the Hong Kong property boom?thats where the money is.
3)The British investors have lost so much buying off plan, they cringe at that word..''dubai''.
4)Dubai, sounded nice and beautiful when it was spending money and paying celebrities and organisations to set up base, money gone, status gone, celebrities gone...dubai gone!!PEOPLE DON'T WANT TO BE SEEN AND HEARD TO BE LIVING IN THAT PLACE ANYMORE..TOO MUCH NEGATIVITY IN THE NEWS.
5)Dubai has a biggest problem...it's currency peg!! i've said this before and i say it again, if it ever has to improve, that dirham has to be devalued, i mean the authority have hidden the inflation IN THAT PLACE, ITS SCARY . Trust me its even more expensive then the UK. The other problem is if the peg is removed the dirham will plummet, which Abu Dhabi wont agree to(with oil prices fixed etc etc)so, the big brother is indirectly harming dubai's prosperity. I mean since the financial crisis, european currency has depreciated, that helps in several ways, reduces debt, promotes export, tourism,spending, retail...etc etc, what has happened to dubai's currency?? we all know.
It has made many british property investors cash in and dump their properties for way less and indirectly cover their losses in the currency devaluation of the pound.
6)No body ever wanted to come and live in Dubai. Yes, people from russia,Philippines,india and africa dreamt of it, but the westerners came there to make tax free money and sunshine(they soon realised it was too much of it),lets not forget they are and were the big spenders, the rest send their hard earned cash BACK HOME and live with minimum expenditure.
I may be wrong here and may have missed the big picture and dubai may still be a great place for those living there in hope....BUT IT CERTAINLY ISN'T GETTING ANY BETTER!!