Varied opinions on Dubai property

[Roshan]

Varied opinions on the Dubai property market.


70% 'are being priced out of Dubai property market'

UAE house prices will continue to rise

Dubai property prices - why the only way is up

Dubai real estate correction 'very close'

Regards

Roshan

 

[georgihh]

Varied opinions on the Dubai property market.


70% 'are being priced out of Dubai property market'

UAE house prices will continue to rise

Dubai property prices - why the only way is up

Dubai real estate correction 'very close'

Regards

Roshan

Hi Roshan,

What ever people say it’s up to the government.
Currently they limit the release of the new projects and keep the demand over the supply.
I don’t see any reason why the government will change the current situation.
Regarding the above the prices will go up, but only on the completed projects as the uncertainty over the new projects will accelerate

 

[Vicks]

Its all based on speculation and this word is now being used a lot about the Dubai property market, especially in the UK.

Varied opinions on the Dubai property market.


70% 'are being priced out of Dubai property market'

UAE house prices will continue to rise

Dubai property prices - why the only way is up

Dubai real estate correction 'very close'

Regards

Roshan

 

[Wannaberich]

Hi Roshan,

What ever people say it’s up to the government.
Currently they limit the release of the new projects and keep the demand over the supply.
I don’t see any reason why the government will change the current situation.
Regarding the above the prices will go up, but only on the completed projects as the uncertainty over the new projects will accelerate

Are u serious,the goverment are limiting the release of new projects ?!
Have you seen how many projects have been released?!
From what I can see the goverment are doing absolutely nothing.

 

[georgihh]

Are u serious,the goverment are limiting the release of new projects ?!
Have you seen how many projects have been released?!
From what I can see the goverment are doing absolutely nothing.

Dubai cannot accept more than 100000 Expatriates per year for the reason that the local population will vanish in couple of years plus so many other reasons.
100000 need 30000 residential units per year. Currently 200000 units are to be build, under constriction or have been sold of plan. 200000 divided by 30000 is 7 years.
So for the next 7 years nothing can be released.
On top of that Ajman is also going to supply over 100000 units
On top of that Palm Deira and Jebel Ali must kick off – 500000 units
Plus Dubai Land, Plus so many more

We are talking approximately 1000000 units in the next 7 years
Is it going to happen – I don’t think so

 

[Investoman_uae]

The Dubai Government needs to listen to experts and professionals in the market. They need a consultancy team which can advice them exactly on how they should manage this market.

They need to manage it well... I dont know how... could be by limiting developments... slow release of projects (although landlords will go nuts over this step).... limiting speculation (steps are being made here) so this forces the flippers away and brings the end-users closer.

There arent many end-users....and this is the problem.

Also Dubai needs to continue to attract people to live and work here. So they need to raise salaries for the low/middle class and put a cap on salaries of westerners at the top of the chain.

I mean how the hell can someone with 5 years experience get 40k a month and I still hear of salaries being 1000 a month, 1500 a month etc...for alot of ppl.... so we need more justice here..... the government needs to give enough buying power to the right people... i.e 70% of the population so that they are able to fill those thousands of units being built.... either through renting or buying.

Inv.

 

[Wannaberich]

I think the Dubai goverment really need to put a stop to any more launches for at least a year.This will give them a chance to access the market properly and see what needs to be done.During this time concentration should be on getting more of the tourist developments under way,Dubailand etc.Theres plenty of residential building goping on presently but not enough for tourists.
This will also get developers to concentrate on finishing one project before starting another.
Due to the credit crunch I would assume alot of the intended projects will get cancelled or delayed anyway.
Also,I still cannot see who will buy the Waterfront and Arabian Canal launches due next year and the year after etc.By then the market would have levelled off so the amount of investors
buying into Dubai will reduce greatly.

 

[Roshan]

Hi Roshan,

What ever people say it’s up to the government.
Currently they limit the release of the new projects and keep the demand over the supply.
I don’t see any reason why the government will change the current situation.
Regarding the above the prices will go up, but only on the completed projects as the uncertainty over the new projects will accelerate

Hi Georgihh

I seriously don't think that Dubai is doing anything to limit the number of projects. It's money for them and I am sure they would not like to kill the golden goose. They might not have time to think of supply / demand.

Regards

Roshan

 

[Roshan]

The Dubai Government needs to listen to experts and professionals in the market. They need a consultancy team which can advice them exactly on how they should manage this market.

They need to manage it well... I dont know how... could be by limiting developments... slow release of projects (although landlords will go nuts over this step).... limiting speculation (steps are being made here) so this forces the flippers away and brings the end-users closer.

There arent many end-users....and this is the problem.

Also Dubai needs to continue to attract people to live and work here. So they need to raise salaries for the low/middle class and put a cap on salaries of westerners at the top of the chain.

I mean how the hell can someone with 5 years experience get 40k a month and I still hear of salaries being 1000 a month, 1500 a month etc...for alot of ppl.... so we need more justice here..... the government needs to give enough buying power to the right people... i.e 70% of the population so that they are able to fill those thousands of units being built.... either through renting or buying.

Inv.

Dubai needs to take care of the middle segment which unfortunately is not done. But how can they do this, if they were to launch a project for the medium segment, you will have investors / speculators going in and booking a whole building.

They should control the medium segment projects by alloting it to people who can come forward and buy with proof of salary. One of these clauses are that they cannot be flipped or sold for say "n" number of years.

The middle segment is very important in any economy. It's sad to see people who earn 1000, 1500 for that matter 4500 dhs and finding it hard to survive.

Low cost housing to the right people is a call which Dubai needs to take....and I wish it happens soon.

The job market is extremely tight and getting good experienced people is difficult.

Regards

Roshan

 

[georgihh]

Thank so much for the posts.
I have put some figures in the above post and if someone have more prices numbers please could you share with us as all of us want to make a good return from our investments.
I think all of you agree with me that Dubai cannot grow up with more than 100k-150k people per year.
Your opinion and figures please