Dubai Residential Prices Keep Falling

[Nicholas Wallwork]

Average residential property prices in Dubai have fallen for the second consecutive quarter this year according to the latest index from real estate advisors Colliers International. Ita quarter three 2010 Dubai House Price Index recorded a 6% decrease in house prices since the second quarter and has reached the lowest recorded level since the second [...]

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[Bernard M.A. Doff]

Free fall or bottom-bumping

How much further will they fall? Back to the levels of 2003? Or is the market bumping along the bottom, as some shrewd people believe.

 

[georgihh]

Prices are falling in general, but some of the properties already hit the bottom. Some properties are still overvalued and they will fall further more. Lost or won in Dubai property market you need to reconsider the current situation and start from scratch. If you buy to rent is not a bad idea, but to buy and wait for your property to appreciate is equal to suicide. Property balloons are seen every 10-15 years, expect something to happen at the end of the decade, but Dubai might be out of this. In general buy in Dubai for your own purpose or to rent it out. Dubai will drag on until the Iran scenario is cleared; once Iran becomes democratic again I am afraid to say Dubai is over for sure. But Dubai could also become democratic you never know.:hahaha:
The life is a gamble and that’s why is so interesting.
:beer::beer:

 

[shoeb]

i think prices already been fallen so much and now it will not fall more because last 6-7 months no property rate drop down can say stable and will raise soon...

 

[Brendan R]

hot money has moved to Asia, mainly HK and Singapore.

Don't think you'll make a quick buck out of Dubai real estate.

Make sure you do your homework and analyse the risk/reward.

Economic growth, political stability, corruption,... take all these into account and compare on a international basis.

If I want to invest real estate, what is the best place on earth.

Good luck

 

[Sportsman]

Be very careful in Asia and the places you mentioned.... bubble forming there, just like it was here. Low interest rates etc... HK gov't just came out with new changes to try and curb increases.

If you want to go against the masses and try and buy low, Dubai is close to very good value now. Having said this, the laws must get better and protect the investor.

 

[eyeC]

will property prices fall more? it depends on the following:

1-property will fall more if rent drops more

2-property will fall if people outflow from the country is more than inflow

3-property will fall if developers keep on charging high maintenance fees

4-any more improvement in the stock market will make people prefer other investments to RE

5-currency fluctuations ,strength of the dollar will make people look for other regions

6- no mortgages make it hard for people to raise money


:captain: