Dubai's Properties Confidence ?

[benho]

I've seen some minor downturn of properties prices for 1B in JLT areas compare to a month ago. I suspect it is the Ramadan period, and thus the slow progress.

For example, Some apartment was oringally selling for Aed 1.5mil in August, and now asking for 1.2mil. I think the seller just too greedy, and no enquires!

However, with all the current issues and pointing out correction is going to happen in 2010, what's your confidence of buying properties in Cityscape?
I bet the developer will put up the price, and i am worry that no one will be interest of buying and cannot flip at all....

 

[georgihh]

I've seen some minor downturn of properties prices for 1B in JLT areas compare to a month ago. I suspect it is the Ramadan period, and thus the slow progress.

For example, Some apartment was oringally selling for Aed 1.5mil in August, and now asking for 1.2mil. I think the seller just too greedy, and no enquires!

However, with all the current issues and pointing out correction is going to happen in 2010, what's your confidence of buying properties in Cityscape?
I bet the developer will put up the price, and i am worry that no one will be interest of buying and cannot flip at all....

The flipping is over for the time being
All those flippers who bought the Emaar new projects will burn out and will never start the business again.
Last year the prices went up 20% during Ramadan – this year as you said 20% down
You can buy at Cityscape but what you buy you don’t know that’s the problem
The project could start but could be delayed
The project could never start
You choose, to buy something which doesn’t exist from cityscape or buy something ready with high rental return

 

[Roshan]

I've seen some minor downturn of properties prices for 1B in JLT areas compare to a month ago. I suspect it is the Ramadan period, and thus the slow progress.

For example, Some apartment was oringally selling for Aed 1.5mil in August, and now asking for 1.2mil. I think the seller just too greedy, and no enquires!

However, with all the current issues and pointing out correction is going to happen in 2010, what's your confidence of buying properties in Cityscape?
I bet the developer will put up the price, and i am worry that no one will be interest of buying and cannot flip at all....

Cityscape is the wrong time to buy. One needs to see the response for this years cityscape.

This is an uncertain period and the no one knows where the markets could be moving.

Regards

Roshan

 

[Safdir]

'All those flippers who bought the Emaar new projects will burn out and will never start the business again'

Which Emaar new projects? I thought Emaar projects were always good buys?

Saf

 

[cansaw]

Property investment in Dubai will always be good - lots are being planned for the future - the sooner you are investing, the better your return will be. For many years, property investment was not just for a quick turnover in a few months, but rather a long time investment. Dubai? - YES - you can never go wrong!

 

[Harvey]

totally agree with cansaw.
my clients are still making great rtns in Dubai and they will continue to do so...Dubai has a good few years left.
TIP, just make sure you purchase in the right area and buy at the right price per sqft.
Just becuase a developer is @ pre launch, this does not mean that you have instantly made $$$.

I have some larger clients are making some great rtns and the Joint Ventures are becomming the next big thing.


[email protected]

 

[cansaw]

I do agree, investors are still making good monies. Just make sure that you deal with Brokers that are RERA registered (The Real Estate Regulator Authority, Land Department, Government of Dubai) which is compulsury from 1 Nov 2008.

 

[Harvey]

that's correct RERA registered is a must people.
I have opportunities in the Waterfront. NOC & Escrow accounts in place on units available direct from developers.

please feel free to contact me if you are serious about investing.