Long term, you can NEVER lose in property (Barring a war or natural disaster).
Short or medium term - Yes you can do your @ss very damn quickly trying to predict a boom or bust.
the message board for Dubai English speaking community
onetickin wrote:Maybe it will go up, maybe it will come crashing down.
All I know is that back in Dec2005 people were telling me not to buy (which may have included Arnie - I can't remember so if this is incorrect, please accept my apologises). Had I listened I wouldn't be have gained approx 50% plus unreliased P&L.
However, in saying this as in all property market booms what goes up will always eventually come down. I predict the market will slow down in late 2007, when the number of properties released/completed will flood the market with "re-sales". I also believe eventually supply will outstrip demand, it will be then that rents will in all probability drop substantially as investors will be competeing to rent out their properties.
I think there is very little time left now to make any money with property in Dubai , as i think we have passed the time between purchasing off plan and completion. People considering buying now for "investment" may possibly be dissappointed.
arniegang wrote:onetickin wrote:Maybe it will go up, maybe it will come crashing down.
All I know is that back in Dec2005 people were telling me not to buy (which may have included Arnie - I can't remember so if this is incorrect, please accept my apologises). Had I listened I wouldn't be have gained approx 50% plus unreliased P&L.
I was in the buy camp then mate, but i started to change my opinion mid 2006 and i'm sticking to it now until further notice, I started to see the warning signs early 2006 though. However my prediction for "late 2007" was spot on 2 years ago . You will also note my prediction for people back then buying off plan in 2006 completing in 2009 are equally at risk.
in fact i wrote this on 6th January 2006However, in saying this as in all property market booms what goes up will always eventually come down. I predict the market will slow down in late 2007, when the number of properties released/completed will flood the market with "re-sales". I also believe eventually supply will outstrip demand, it will be then that rents will in all probability drop substantially as investors will be competeing to rent out their properties.
I think there is very little time left now to make any money with property in Dubai , as i think we have passed the time between purchasing off plan and completion. People considering buying now for "investment" may possibly be dissappointed.
Interestingly enough Chocs who is saying in this thread "buy buy buy Sports City blah blah" was most vocal back then in saying we were all fools buying property. Read for yourself here:
http://www.dubaiforums.com/viewtopic.ph ... c&start=15
^ian^ wrote:Arnie stop talking. Nobody wants to read over and over again how lucky you were.
arniegang wrote:an interesting fact in Gulf News on their properties section. Listed are 10,052 properties for sale or rent in Dubai
10,000 !!!!! obviously there is a very long queue to buy or rent all these properties
http://www.gnads4u.com/properties
arniegang wrote:[quote="MaaaD
thats just a sign of a healthy market. An apartment i bought just completed, and i put it out for rent. not only did it rent out in two days .. the first people who came to see it took it. We are still far away from a position where supply exceeds demand.
MaaaD wrote:does anyone know the average for sq m in singapore?
Alex1111 wrote:GULF NEWS -
Dubai faces a shortage of both residential and commercial space.
Based on the number of residence visas issued, the city's population of 1.67 million is growing by 300,000 a year. If this pace continues, the population is projected to grow to 4.1 million by 2015.
If construction delays are "at a minimal," 170,000 new residential units will be available between 2008 and 2010, according to CB Richard Ellis.
The demand for residential units is estimated at 70,000 per year against a delivery of 57,000 units.
Maclean said Dubai's property sector growth is sustainable if economic growth continues and expatriate numbers continue to rise at current levels.
But competition from construction within the region and slow infrastructure growth could undermine the city's property sector, he added.
ebonics wrote:Alex1111 wrote:GULF NEWS -
Dubai faces a shortage of both residential and commercial space.
Based on the number of residence visas issued, the city's population of 1.67 million is growing by 300,000 a year. If this pace continues, the population is projected to grow to 4.1 million by 2015.
If construction delays are "at a minimal," 170,000 new residential units will be available between 2008 and 2010, according to CB Richard Ellis.
The demand for residential units is estimated at 70,000 per year against a delivery of 57,000 units.
Maclean said Dubai's property sector growth is sustainable if economic growth continues and expatriate numbers continue to rise at current levels.
But competition from construction within the region and slow infrastructure growth could undermine the city's property sector, he added.
this is a model of an article that is designed to fool a moron.
the 300,000 expatriates a year would not afford any of the units mentioned above to rent or buy for that matter, maybe a whole 25,000 would..
the rest are crammed into 2 bedroom units each with 10-15 bachelors living in them..
way to twist statistics to give people false sense that the property market is flying, buy buy buy...
Alex1111 wrote:DDastardly buy dont rent.Your still in time to see your property value go up.Late delivery of units will keep prices going up for at least 2 years.Reports from Investment Banks prices will keep rising till 2012.If u hang onto it for 6years plus your'll go through the predicted price corrections which will then rise again.Dubai is on the way to become a great city and once the metro is complete and many of the amazing projects it will be a huge magnet for people to come and live.If 300.000
are coming now when Dubai is a constuction site and traffic is a nightmare think of how many will come when all thats in the past.
Alex1111 wrote:are coming now when Dubai is a constuction site and traffic is a nightmare think of how many will come when all thats in the past.
ebonics wrote:ok so they're going up, but then what happens?
it will continue to go up
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