G
georgihh
New Member
Last time a sort of recession happened in Dubai was 2001-2004
The business went down - no tourists no salary no activities
But the rent went down as max as 5%.
The flats were empty at one stage but the prices didn’t go down
Emaar were selling at cost in Greens and springs for as long as 2 years.
This time will be a similar scenario prices will stabilize the developer will sell at the current prices for some time to come and the activities will slow down.
Expect nice 2-3 years from now on.
The business went down - no tourists no salary no activities
But the rent went down as max as 5%.
The flats were empty at one stage but the prices didn’t go down
Emaar were selling at cost in Greens and springs for as long as 2 years.
This time will be a similar scenario prices will stabilize the developer will sell at the current prices for some time to come and the activities will slow down.
Expect nice 2-3 years from now on.
