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What a hate filled thread. It shouldn't be moved, it should just be binned.

When the market really crashes, I think we should put a lock on new memberships on the forum, because I for one don't want the place flooded by idiot investors who gloat when they're making money in this market, but whinge like no tomorrow when the pendulum swings the other way.

Stop whinging, nobody has held a gun to your head and said "buy this apartment". Let's face it, you got greedy and went after the short term gain. All short term gains come to an end, and it has well and truly here.

Don't blame the locals, blame yourself.

I could however sell you a 10 x CD Audio tape of the great Arniegang himself giving solid property advice and how to play the market. Yours complete for 10,000 AED. (Cash only though)

what do the CD's contain?

^ian^ wrote:What a hate filled thread. It shouldn't be moved, it should just be binned.

When the market really crashes, I think we should put a lock on new memberships on the forum, because I for one don't want the place flooded by idiot investors who gloat when they're making money in this market, but whinge like no tomorrow when the pendulum swings the other way.

Stop whinging, nobody has held a gun to your head and said "buy this apartment". Let's face it, you got greedy and went after the short term gain. All short term gains come to an end, and it has well and truly here.

Don't blame the locals, blame yourself.

I could however sell you a 10 x CD Audio tape of the great Arniegang himself giving solid property advice and how to play the market. Yours complete for 10,000 AED. (Cash only though)

Most project developers market their projects as investments, so all of those that buy into their projects are then are greedy? In most of the downtown areas in the main city where rents are quite high, most of the apartments can't be purchased by foreigners or expats. If I'm not mistaken 95% are owned by locals and when you have monopoly then you have outrageous prices like the rates that Etisalat charges the people in the Emirates for all calls.

Stylinexpat wrote:Most project developers market their projects as investments, so all of those that buy into their projects are then are greedy?

I don't know, but I've got a bridge to sell. It's a really sound investment, are you interested?

In most of the downtown areas in the main city where rents are quite high, most of the apartments can't be purchased by foreigners or expats. If I'm not mistaken 95% are owned by locals and when you have monopoly then you have outrageous prices like the rates that Etisalat charges the people in the Emirates for all calls.

Without divulging too much information, I can assure you that a good chunk of the freehold apartments are owned by expats, a very good chunk.

Now you're blaming the cost of a phone call on the market dipping. Clutching at straws?

Admit it, you didn't do your research.

Have had personal experience with the rent situation...however consider this:

HH Sheikh Mohammed capped the rent increases to a maximum of 15% in any 12 month period. That capping expires in January 2007, leaving landlords free to increase rents to whatever levels they feel suitable or the market will accept. If your rent is paid by your company, you don't care. If, however, you have to pay the rent yourself from an all-in salary package which is increasingly the way people are employed over here, then that allowance is never going to keep pace with the spiralling rent rates and it is going to cost you to work here in a very short period of time.

If you are self employed and have to cover all the costs yourself, then heaven help you!

I have an idea...everyone in Dubai move to Umm Al Quwain! What would the Dubai landlords do then? Ah yes, they will charge you to enter and leave Dubai, which they are already arranging!



Knight
(from his compact but bijou dustbin on wheels at the side of the road in Karama...)

Dubai Knight wrote:Have had personal experience with the rent situation...however consider this:

HH Sheikh Mohammed capped the rent increases to a maximum of 15% in any 12 month period. That capping expires in January 2007, leaving landlords free to increase rents to whatever levels they feel suitable or the market will accept. If your rent is paid by your company, you don't care. If, however, you have to pay the rent yourself from an all-in salary package which is increasingly the way people are employed over here, then that allowance is never going to keep pace with the spiralling rent rates and it is going to cost you to work here in a very short period of time.

If you are self employed and have to cover all the costs yourself, then heaven help you!

I have an idea...everyone in Dubai move to Umm Al Quwain! What would the Dubai landlords do then? Ah yes, they will charge you to enter and leave Dubai, which they are already arranging!



Knight
(from his compact but bijou dustbin on wheels at the side of the road in Karama...)

The wheels of supply and demand are tilting in the other direction as we speak, albeit slowly.

In the coming 3 months, there will be a total of 25,000 - 40,000 vacant apartments coming online in Dubai, of which there is approximately 60-80% expat ownership, depending on the development.

Now, consider that the Marina is still half empty - and consider that when these apartments come online, people aren't going to be holding out for the 40% rental return and will be happy for 10%.

This won't be a crash, it's a correction.

Rates in Thailand using a prepaid DTAC card from Thailand to:
1) Dubai 23.54 Baht per minute $.62 in U.S.D. or 2.28 Dhms.
2) USA 5.35 Baht per minute $.14 in U.S.D. or .51 Fils per minute
3) Moscow 5.35 Baht per minute Same as U.S.
4) UK 7.49 Baht per minute $.20 in U.S.D. or .73 Fils per minute

The above calls are including the 7% tax

In Taiwan I get 10MB. download with 2MB. upload speed ADSL for 850 N.T. per month which is $25.75 U.S.D.= 94.50 Dhms.

Dubai Knight wrote:Have had personal experience with the rent situation...however consider this:

HH Sheikh Mohammed capped the rent increases to a maximum of 15% in any 12 month period. That capping expires in January 2007, leaving landlords free to increase rents to whatever levels they feel suitable or the market will accept. If your rent is paid by your company, you don't care. If, however, you have to pay the rent yourself from an all-in salary package which is increasingly the way people are employed over here, then that allowance is never going to keep pace with the spiralling rent rates and it is going to cost you to work here in a very short period of time.

If you are self employed and have to cover all the costs yourself, then heaven help you!

I have an idea...everyone in Dubai move to Umm Al Quwain! What would the Dubai landlords do then? Ah yes, they will charge you to enter and leave Dubai, which they are already arranging!



Knight
(from his compact but bijou dustbin on wheels at the side of the road in Karama...)

Very true

^ian^ wrote:

Stylinexpat wrote:Most project developers market their projects as investments, so all of those that buy into their projects are then are greedy?

I don't know, but I've got a bridge to sell. It's a really sound investment, are you interested?

In most of the downtown areas in the main city where rents are quite high, most of the apartments can't be purchased by foreigners or expats. If I'm not mistaken 95% are owned by locals and when you have monopoly then you have outrageous prices like the rates that Etisalat charges the people in the Emirates for all calls.

Without divulging too much information, I can assure you that a good chunk of the freehold apartments are owned by expats, a very good chunk.

Now you're blaming the cost of a phone call on the market dipping. Clutching at straws?

Admit it, you didn't do your research.

I probably could have done a bit more research but research is limited in Dubai as many analysts aren't allowed publicly research and state research results which includes stocks and housing. I guess i'm in the same boat as all the other people that have ads in the Gulf News Paper for freeholds or what ever they are called. I like Dubai alot, just hope a few things change for the better.

^ian^ wrote:

Stylinexpat wrote:Most project developers market their projects as investments, so all of those that buy into their projects are then are greedy?

I don't know, but I've got a bridge to sell. It's a really sound investment, are you interested?

In most of the downtown areas in the main city where rents are quite high, most of the apartments can't be purchased by foreigners or expats. If I'm not mistaken 95% are owned by locals and when you have monopoly then you have outrageous prices like the rates that Etisalat charges the people in the Emirates for all calls.

Without divulging too much information, I can assure you that a good chunk of the freehold apartments are owned by expats, a very good chunk.

Now you're blaming the cost of a phone call on the market dipping. Clutching at straws?

Admit it, you didn't do your research.

I don't think this guy really understands the market here, as the downtown apartments he is refering to are not the freehold properties that are presently being sold on the market. He is refering to the Blocks owned by locals since before this boom started.

^ian^ wrote:

Dubai Knight wrote:Have had personal experience with the rent situation...however consider this:

HH Sheikh Mohammed capped the rent increases to a maximum of 15% in any 12 month period. That capping expires in January 2007, leaving landlords free to increase rents to whatever levels they feel suitable or the market will accept. If your rent is paid by your company, you don't care. If, however, you have to pay the rent yourself from an all-in salary package which is increasingly the way people are employed over here, then that allowance is never going to keep pace with the spiralling rent rates and it is going to cost you to work here in a very short period of time.

If you are self employed and have to cover all the costs yourself, then heaven help you!

I have an idea...everyone in Dubai move to Umm Al Quwain! What would the Dubai landlords do then? Ah yes, they will charge you to enter and leave Dubai, which they are already arranging!



Knight
(from his compact but bijou dustbin on wheels at the side of the road in Karama...)

The wheels of supply and demand are tilting in the other direction as we speak, albeit slowly.

In the coming 3 months, there will be a total of 25,000 - 40,000 vacant apartments coming online in Dubai, of which there is approximately 60-80% expat ownership, depending on the development.

Now, consider that the Marina is still half empty - and consider that when these apartments come online, people aren't going to be holding out for the 40% rental return and will be happy for 10%.

This won't be a crash, it's a correction.

Agreed, same thing happened in Abu Dhabi starting with very high rents in 92 with the construction of hundreds of Khalifa Committee buildings on the go, rents were 50% in 96. Supply and Demand

What do you guys think of this speech?
http://www.gulfnews.com/nation/Government/10087271.html

Those damn western journalists Let the locals run the paper. Reminds me of when the local couldn't be caught for over a year and I could not place a wanted or missing person advert in the paper because the man was a local. The advert would have been approved had he been an Indian or some other national.

"We are dealing with the reports of these organisations objectively and we appreciate whenever they bring these issues to our attention and represent them objectively," he added.

In most cases if the issue has something to do with a local one can't bring it to their attention in a local paper. Seems that it only get publicity when papers abroad start talking about it as local papers won't publish these things or issues.

"Perhaps some of these journalists appraised the situation based on their cultural background, or some lacked the competence to judge. In any case we are not assuming bad intention," he said.

"I call on the national owners of these media establishments to bear responsibility and to employ competent nationals to run their papers. Meanwhile, it is necessary to inform and educate expatriate journalists about our culture, values and way of living," Shaikh Mohammad said.


Again this is like saying the story would be better if it were printed or run by a local. Notice how it said to run rather then said to employ local journalists. Tha means the local would have the final say on what gets approved to be printed! I think the expatriates have a pretty good way of how the locals live.


"We are falling behind only in two areas, traffic jams and the increasing rents which we have capped. We will overcome these issues in less than two years with the completion of the new roads and bridges and the metro project, which will reduce traffic jams and stabilise rents," he said.

There won't be a need for rent cap when all these newly built units hit the market and the owners of these units struggle to find tenants. The prices will automatically drop or crash if a huge amount of units floods the market like what happened with the local stock market when a load of shares hit the market with no buyers on hand. The index went from 1200+ points to 350 before forming a new Index.[/quote]

Being an Intl City freehold property owner myself (bought for cash, screw the banks), I get annoyed when some so-called newspaper-hogging analysts keep predicting a crash or fall because tens of thousands of apartments are "coming online." Are these guys lumping Dubai Marina crap and International City together? IC is the only one in demand from the middle class, and I doubt there are enough.

And yes, Dubai Marina is crap. So many tiny "luxury" apartments, priced 3 times as much as IC, and right next to a freaking oil-burning power plant. Enjoy.

[quote="Stylinexpat"]What do you guys think of this speech?
http://www.gulfnews.com/nation/Government/10087271.html

As Jamal would say

He the man

sage & onion wrote:

Stylinexpat wrote:What do you guys think of this speech?
http://www.gulfnews.com/nation/Government/10087271.html

As Jamal would say

He the man

He the man alright. I prefer him over Bashar Al Assad any given day of the week. His policies though do show very clearly whom he supports.

Stylinexpat wrote:

sage & onion wrote:

Stylinexpat wrote:What do you guys think of this speech?
http://www.gulfnews.com/nation/Government/10087271.html

As Jamal would say

He the man

He the man alright. I prefer him over Bashar Al Assad any given day of the week. His policies though do show very clearly whom he supports.

The citzens of the UAE? Wow! Who'd have thought.

Sounds like some very thinly veiled local bashing to me. I think you should leave, you've obviously been here too long.

^ian^ wrote:

Stylinexpat wrote:

sage & onion wrote:

Stylinexpat wrote:What do you guys think of this speech?
http://www.gulfnews.com/nation/Government/10087271.html

As Jamal would say

He the man

He the man alright. I prefer him over Bashar Al Assad any given day of the week. His policies though do show very clearly whom he supports.

The citzens of the UAE? Wow! Who'd have thought.

Sounds like some very thinly veiled local bashing to me. I think you should leave, you've obviously been here too long.

Tell us a bit about your-self...