Dubai Forums Dubai Discussions Dubai General Chat

gtmash wrote:Either way, I paid cash for it so I don't have any mortgages to worry about, and gave it for rent at slightly less than what the real estate agents are asking for those apartments (most of which sit empty as of now). Since I bought it off-plan, I doubt I'll ever lose any money on it if I sell it later (and I can wait for a long time), crash or not. In the mean time, I make money off the rent.

That's a sound investment then, you only have to match the current interest rate to make a decent return... not beat it by 5 to 7%

It is true that if the Marina apartment owners become desperate later, they'll bring their rates down to what the middle-class can afford. Those pointlessly expensive apartments will the ones most burnt in a crash.

Agree totally with this point.

with the attitude you guys have against every dam thing in this country, even if the government built such a city still you guys will go crazy dancing on the streets (( oh god...this gove is discriminating us and wants to push us a way from locals areas.. human rights ... please help us ) aaahhhh

even though I agree with building such a city with all of us middle class living in Dubai.

I think Abu Dhabi is starting to solve such a problem before it accrue by stating a mass labors cities and midd class homes.

but again Dubai is a big business city and like it's sisters world wide it is common not to find a cheap apartments or cheap rent . it just wont happen , check rent rates in the same class of Dubai, I think price will be almost the same, considering locations, building age, communities and facilities near by, I mean to expect prices to be like ajman, RAK or Fujarah..

my point is .... why cant the gov. / developers build or develop lands for (non emerati) people with less income, where they will make the design simple, and use the space to accomodate more flats than gardens ... make it low cost buildings ... and offer it on low rent with a income screening scheme so that only people of certain salary bracket can avail those flats .... or why cant they make a sharing flat system but government manage so that the governent can insure that the space rent wouldnt be more than what its supposed to be .... i mean it is also good for the governemnt cause its still income ... and at the end of the day they can still make their low income people happy ....

Its all about balance .... looking at each walk of life properly and equally

i dont know what do you think of this idea ?

like what other countries are doing[/quote]

Well, government intervention within a free market is never usually welcome by investors.

The high rents are attracting the investors, at the moment, which is leading to the sustainment of the growth in the economy.

When the demand curve shifts (and believe me, it is shifting) we will see rents come down to more reasonable prices.

There is a glut of luxury developments in Dubai and it's increasing. What this will mean in the long term is that many of these developments will either have to be let out cheaply or sit empty. Not what investors want so they will hang out until forced to, but it will come.

Added to that, the mass freehold and overseas investor property is only coming online now. Until this point 90% of the freehold property available for rent is owned by locals. This is no judgement on locals, but they have the time, wealth and luxury to let these things sit empty until they get the right rent. The expat and overseas investor has a mortgage to pay in most cases and would rather rent an apartment out for lower return than have it sit empty waiting for the 'right' renter to come along.

Government intervention won't help in either scenario. Pushing people out of shared accommodation and giving them no option also won't help.

[/quote]

Ian has summarised the situation extremely well and also he has his facts right.

However i would like to add a few caveats.

As more properties come on stream like JBR, Int City and the Palm Shoreline Appts the supply problem will shift. In line with Ians summary regarding rents, then he is totally correct in deducing that rents will start to shift downwards as the investors other than locals will not be able to sustain the financial burden of keeping those properties empty.

This situation has already showed itself in europe in particular Spain. The buyers market has ended. Now the popular coastal resorts are flooded with properties and the buyer/renter has more power of negotiation. The same has also happened in the United States.

Following a "boom" there is always the fallout. DXB will experience this within the next 12 months.

Another factor that wil have a "knock on" in the next 6 months is those from the UK that have to complete on their properties with borrowed money. Interest rates are already high in the UAE and the UK base rate is creeping up fast, we are at highest interest rate for 5 years now and it will continue to climb. This will make the properties more expensive to the owners and in turn will lead to more "bargining" because the owners will not be able to afford to hold out for that extra 5/10k Dhs rent.

Summary - good news for those needing rental in the next 12 months.

soon they'll pay for their greediness. I hope so! .. but the bachelors will still be evicted.
Is there a currently bahelor-friendly area in Dubai? Who would want to live in a building full of bratty rowdy kids and suspicious whiny parents anyway?

firefingers wrote:with the attitude you guys have against every dam thing in this country, even if the government built such a city still you guys will go crazy dancing on the streets (( oh god...this gove is discriminating us and wants to push us a way from locals areas.. human rights ... please help us ) aaahhhh

I think you've clearly got a chip on your shoulder. Time to get it off.

Everytime someone posts something that even has a sniff of perhaps the government isn't acting properly, you explode into a whine fest.

Get it together man, and construct some proper arguments.

firefingers wrote:but again Dubai is a big business city and like it's sisters world wide it is common not to find a cheap apartments or cheap rent . it just wont happen , check rent rates in the same class of Dubai, I think price will be almost the same, considering locations, building age, communities and facilities near by, I mean to expect prices to be like ajman, RAK or Fujarah..

Dubai has aspirations to be a big business city, and is well on its way to becoming one, but it's not in the league of New York, London, Singapore and Hong Kong just yet.

As part of it's growing pains, these issues will happen where the market supply and demand remain in a flux until it plateaus. What HH & Co are trying to do here is magnificent, but it's not without its issues, understand this.

The thing you need to consider is that for a city to function it needs all classes and just can't be a high class city with expensive rents. Eventually the supply of cheap labour will diminish because nobody will be able to afford to live here.

Who will take away your trash?
Who will serve you in the restaurants?
Who will pump your gas?
Who will cut your hair?
Who will come and fix your plumbing when the sewerage is blocked?

Just these little things make a big difference and you can't expect people to sacrifice so much quality of life just to service the upper class.

Reasonable rental accommodation needs to be accessible to all for the city to function. You need lower class areas within close reach to the higher class areas.

The idea of people commuting for 2 hours a day in each direction just to service you is one that will soon fail to appeal to people, especially with the rising cost of living.

Fortunately, you don't have to worry about this as the laws of economics and sustainability are here to save the day. Rents will come down due to oversupply and unwillingness of people to pay.

Just don't whine when the rents do come down.

^ian^ wrote:
Who will take away your trash?
Who will serve you in the restaurants?
Who will pump your gas?
Who will cut your hair?
Who will come and fix your plumbing when the sewerage is blocked?

Emiratisation should take care of all that.

teehee

the only way the rents will go down is when the us attacks iran and brings freedom and democracy to the gulf region.

so keep ur fingers crossed.

xibit wrote:the only way the rents will go down is when the us attacks iran and brings freedom and democracy to the gulf region.

so keep ur fingers crossed.

You war-mongering traitor.

^ian^ wrote:

firefingers wrote:with the attitude you guys have against every dam thing in this country, even if the government built such a city still you guys will go crazy dancing on the streets (( oh god...this gove is discriminating us and wants to push us a way from locals areas.. human rights ... please help us ) aaahhhh

I think you've clearly got a chip on your shoulder. Time to get it off.

Everytime someone posts something that even has a sniff of perhaps the government isn't acting properly, you explode into a whine fest.

Get it together man, and construct some proper arguments.

dam it , this became like a habit arguing with you and gtmash ( beavis and butthead ) I'm starting to like it

you are nothing but a showoff guy whos trying to be all that in this forum.
ok we get it .

it's not an argument I wana go in to here, but just being a pain in your asses, thats all.

gtmash wrote:

^ian^ wrote:
Who will take away your trash?
Who will serve you in the restaurants?
Who will pump your gas?
Who will cut your hair?
Who will come and fix your plumbing when the sewerage is blocked?

Emiratisation should take care of all that.

teehee

LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL

thats it I'm giving you and ian a nick names ( antiUAEism )
LOOOOOL

just please change the dam car man, it's too embarrassing if you thing it's a cool one and get a hair cut for god sack , the 70's are over.

Great review Arniegang. Now thats some confirmation from the Biggie.

firefingers wrote:

gtmash wrote:

^ian^ wrote:
Who will take away your trash?
Who will serve you in the restaurants?
Who will pump your gas?
Who will cut your hair?
Who will come and fix your plumbing when the sewerage is blocked?

Emiratisation should take care of all that.

teehee

LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL

thats it I'm giving you and ian a nick names ( antiUAEism )
LOOOOOL

just please change the dam car man, it's too embarrassing if you thing it's a cool one and get a hair cut for god sack , the 70's are over.

There's only one person embarrassing himself around here. And it's not me. That same person is also putting down this country for projecting such an image of locals.

How come the locals graduating from local colleges so smart and friendly? And UCLA puts out such a LOLing oaf?

^^^Unbelievable...

I don't care about other locals my self , what matter here is my country butthhead, it is so weard man you guys discussing such issues and you still keep fighting year after year to renew your visa to keep your ugly butt in this country UNINVITED to give yourself and your family a life they never dreamed off, you know it gtmash, be real.

why you keep pullshitting each other in this forum and go a long with it, you all know that, but you keep doing it on and on day after day.

I don't care where you from or your race, but I know for a fact that your ass wouldn't leave your country unless you found a better life in all aspects in another. so instead of you guys pullshitting each other, you realy should go back home and fix all the things in your counrties,the countries that faild to provied you a jobs, health care and schools or such a living you are having here.



it is simple dud.

I careless of your replies people, you know this is a fact.

firefingers wrote:I don't care about other locals my self , what matter here is my country butthhead, it is so weard man you guys discussing such issues and you still keep fighting year after year to renew your visa to keep your ugly butt in this country UNINVITED to give yourself and your family a life they never dreamed off, you know it gtmash, be real.

why you keep pullshitting each other in this forum and go a long with it, you all know that, but you keep doing it on and on day after day.

I don't care where you from or your race, but I know for a fact that your a#s wouldn't leave your country unless you found a better life in all aspects in another. so instead of you guys pullshitting each other, you realy should go back home and fix all the things in your counrties,the countries that faild to provied you a jobs, health care and schools or such a living you are having here.



it is simple dud.

I careless of your replies people, you know this is a fact.

yeh i m with u on this one bro. ppl in dubai cant stop Bullshitting. they always complaing and complaining. they always complaining about traffic, fines, oh i parked my car on the curve will i get fined. oh the rent is going up. they all bunch of CHEAP BLOODY JEWS if u cant afford it y dont u get a better job. as for the traffic there are loads of roads out there who told u to go to shj zayed and get stuck there for hours

firefingers wrote:I don't care about other locals my self

Obviously. I think the majority would cringe at the attitude you display.

what matter here is my country butthhead, it is so weard man you guys discussing such issues and you still keep fighting year after year to renew your visa to keep your ugly butt in this country UNINVITED to give yourself and your family a life they never dreamed off, you know it gtmash, be real.

Not everyone is from an impoverished country. As much as you'd like to say the UAE is the best, there's plenty of other countries that are more enjoyable to live in and have better infrastructure.

A lot of us are here helping you put this infrastructure together, and it's this mentality you display that makes our jobs more difficult everyday.

why you keep pullshitting each other in this forum and go a long with it, you all know that, but you keep doing it on and on day after day.

Why don't you address the issues intelligently instead of just screaming 'UAE bashing!' everytime someone points something out and wants to discuss it?

Why resort to childish name calling and attacking the person instead of the issue?

It's a good thing I know plenty of locals socially and through work that are completely different to you. These are the locals working hard to ensure this country does get to where it needs t be. These locals are proud, but also realise there's still much to do.

I don't care where you from or your race, but I know for a fact that your a#s wouldn't leave your country unless you found a better life in all aspects in another.

Er... really?

Did you ever consider that some of us have the luxury to pick and choose where we work on this planet? I am personally here because I wanted to experience working in the middle east. I have no long term plans to live here, and my country will always be my home.

It has better weather, and the best beaches in the world. It also has an exceptionally high standard of living.

so instead of you guys pullshitting each other, you realy should go back home and fix all the things in your counrties,the countries that faild to provied you a jobs, health care and schools or such a living you are having here.

The irony to your statement is that I work with many expats who are here because they are amongst the best in their country for their type of work, and they have been recruited to come here and help your country get to that level. i.e. emulate and borrow best practices from the developed world.

I could get a job easily in Australia, it's you guys who want me, not the other way around.

it is simple dud.

I careless of your replies people, you know this is a fact.

You care less because you're behaving like a child man. Face the issues and address the concerns, don't pretend it will go away or bundle it up as an 'expat problem'.

On behalf of all locals at the UAE Mr.FF opinions are his own & he does not represent us nor or government.

FF in this forum there are some racist comments against UAE and there are constructive criticisms you should ignore the bullshit and grasp the points that could help our country and our community both expats & locals.

This is the new Dubai Bachelor City

bonk wrote:This is the new Dubai Bachelor City

lol, nice picture..

Yes this is the new Dubai Bachelor City

But wait a minute, bachelors are being evicted!