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Red Chief wrote:Der Robbyg,
Yr. post shows one more time that you have never been to Dubai nor Ajman/Sharjah.

About Sharjah:
1) You can't buy property in Sharjah, only rent.
2) Rent charge has been also dropping there quite significantly...
3) There are barely no wealthy people. They are mostly clerks with salary 7K-10K and even those salary could easily squeesed by employer following rent...

So all your theory could concern only to RENT charges in IC, not Villa Prices in PJ...
Anyway RENT and PRICE are depend on each other very indirectly in the UAE.

Secondary you don't take into account the main problem in buying villa - problem with credits. All this buble on the property market was blown due to relatively cheap credits only evert where in the World. So as soon as credits haven't been available the prices will be drop more and more non-stop...

The Florida land boom of the 1920s was Florida's first real estate bubble, which burst in 1925, leaving behind entire new cities and the remains of failed development projects such as Isola di Lolando in north Biscayne Bay. The preceding land boom shaped Florida's future for decades and created entire new cities out of the Everglades land that remain today. The story includes many parallels to the modern real estate boom, including the forces of outside speculators, easy credit access for buyers, and rapidly-appreciating property values.

By the 1920s, its economic prosperity had set the conditions for a real estate bubble in Florida. Miami had an image as a tropical paradise and outside investors across the United States began taking an interest in Miami real estate. Due in part to the publicity talents of audacious developers like Carl G. Fisher of Miami Beach, famous for purchasing a huge lighted billboard in New York's Times Square proclaiming “It's June In Miami”,[1] property prices rose rapidly on speculation and a land and development boom ensued.[2]

By January 1925, investors were beginning to read negative press about Florida investments. Forbes magazine warned that Florida land prices were based solely upon the expectation of finding a customer, not upon any reality of land value.[3] New York bankers[who?] and the IRS both began to scrutinize the Florida real estate boom as a giant sham operation. Speculators intent on flipping properties at huge profits began to have a difficult time finding new buyers. The inevitable bursting of the real estate bubble had begun.

On January 10, 1926, the Prinz Valdemar, a 241-foot, steel-hulled schooner, sank in the mouth of the turning basin of Miami harbor. The old Danish warship had been on its way to becoming a floating hotel.[4]

The Prinz Valdemar, capsized and blocked the port of Miami for several weeks in January of 1926, helping to usher in the end of the real estate boom.

The railroads, already strained by the burden of transporting both food and building supplies, had already begun raising shipping rates. When the sea route to Miami was blocked the city's image as a tropical paradise began to crumble. In his book Miami Millions, Kenneth Ballinger wrote that the Prinz Valdemar capsize incident saved a lot of people a lot of money by revealing cracks in the Miami façade. “In the enforced lull which accompanied the efforts to unstopper the Miami Harbor,” he wrote, “many a shipper in the North and many a builder in the South got a better grasp of what was actually taking place here.”[5]

In October 1925, in an effort to improve Florida's clogged rail system, the railroad companies placed an embargo on all railway goods other than food, which further contributed to Florida's skyrocketing cost of living. New buyers failed to arrive, and the property price escalation that fueled the land boom stopped. The days of Miami properties being bought and sold at auction as many as ten times in one day were over. The first Florida real estate bubble had burst.

The next year brought the 1926 Miami Hurricane, which drove audacious Biscayne Bay development projects such as Isola di Lolando into bankruptcy. The 1928 Okeechobee Hurricane and the Wall Street Crash of 1929 continued the catastrophic downward economic trend, and the Florida land boom was officially over as the Great Depression began. The depression and the devastating arrival of the Mediterranean fruit fly a year later destroyed both the tourist and citrus industries upon which Florida depended. In a few short years, an idyllic tropical paradise had been transformed into a bleak, humid remote area with few economic prospects. Florida's economy would not recover until World War II.

http://en.wikipedia.org/wiki/Florida_la ... _the_1920s

Bora Bora wrote:There are, as far as I can find, two freehold properties in Sharjah.

Sharjah Gate and Abbco Building.

To say that it is a haven for clerical employees is totally wrong. I know several people who live in Sharjah and do well salary wise. These couples have 3 or 4 children so rents were affordable to them as they had schooling costs to cover.

Bora Bora wrote:There are, as far as I can find, two freehold properties in Sharjah.

Sharjah Gate and Abbco Building.

Red Chief wrote:

Bora Bora wrote:There are, as far as I can find, two freehold properties in Sharjah.

Sharjah Gate and Abbco Building.

There are probably. The only problem that there is NO law for free-hold for expats in Sharjah.

Red Chief wrote:I thought something like ownership for 99 years...

Red Chief wrote:Thank you, Bob. I appreciate all your theories very much... Are you happy?

Will not continue to save this important thread...

RobbyG wrote:Keep it up and no personal attacks anymore please. Keep it on substance

Red Chief wrote:http://www.dubainews.biz/Sharjah-freehold-law-awaiting.html

Bora Bora wrote:

RobbyG wrote:Keep it up and no personal attacks anymore please. Keep it on substance

You hypocrite! Do you think you have the exclusive rights on personal attacks?

RobbyG wrote:

Bora Bora wrote:

RobbyG wrote:Keep it up and no personal attacks anymore please. Keep it on substance

You hypocrite! Do you think you have the exclusive rights on personal attacks?

An eye for an eye, you 'non-substance' caveman.

You try being reasonable without getting offensive and assumptive. You can make fun of me for sure!!! Life is fun.

RobbyG wrote:

Red Chief wrote:http://www.dubainews.biz/Sharjah-freehold-law-awaiting.html

This mentions the proposed property law for Arab nationals, most recognizably the GCC nationals. This could exclude the non-GCC nationals from freehold opportunities which would make it racist in my opinion. This will be short-lived it that was the case.

I think they will open up just like Dubai and Abu Dhabi with freehold property licenses for all foreigners.

Until now they haven't decided yet, so its a pain in the Arab @ss so to speak.

RedKite wrote:Who says prices won't keep going DOWN until 2012 at least? A PHENOMENAL amount of property in Dubai and Abu Dhabi is due to be completed by 2012, so the market will be flooded. Yet the buyers have to come from the western world which is entering deep recession as private sector businesses close every week, and property keeps dropping in the USA, UK and Europe.

So, where are the BUYERS for a FAR GREATER VOLUME of properties going to come from?
Increase the supply PLUS Decrease the demand and what will you get? ........Even lower prices!!

Plus Gordon Brown is trying to convince other Govt leaders to abolish off-shore tax havens! He said it at the meeting of leaders last week.

The only advantage to that is that MAYBE some people who have fiddled tax in the USA, UK etc ,might flee Cayman Islands; Jersey ; Isle of Man et al with their loot and try and move to Dubai to live permanently. If Dubai is DESPERATE for their money, it might allow them in as residents .....no questions asked !!

Of course, Herve might say that it will prove a damn site more difficult to LEAVE [or Escape] from Dubai later with all monies intact!!

Again, the numbers of residents of tax havens coming to Dubai would be relatively small in number compared to the number of forthcoming properties in Dubai!!

RedKite wrote:Of course, Herve might say that it will prove a damn site more difficult to LEAVE [or Escape] from Dubai later with all monies intact!!

Misery Called Life wrote:

RedKite wrote:Of course, Herve might say that it will prove a damn site more difficult to LEAVE [or Escape] from Dubai later with all monies intact!!

And i guess we can all silently agree that Herve may very well be right here!

Bora Bora wrote:Is that to say the govt established freehold apartments to allow only Emiratis to buy them, whereas freehold in Dubai was established for both Emiratis and expats.

Bora Bora wrote:

arniegang wrote:PJ villas were never sold for 700k even in 2002.

I bought two 1 bed shoreline appartments sea facing in May 2002 for 725k each.

Back then 4 bed villa's on the fronds started at around 1.6 million depending on spec

The intro to freehold started in the Springs and that is where villas were sold at 700. PJ came much letter.

RedKite wrote:Arniegang,
I know I am generalising, but how much is an AVERAGE apartment in STERLING in Marina 1 ...NOW , on March 17th 2009 and how much was the SAME ,or similar, apartment on March 17th 2007 ?

How much of the difference is attributable to the fall in the value of Sterling?

RedKite wrote:Arniegang,
I know I am generalising, but how much is an AVERAGE apartment in STERLING in Marina 1 ...NOW , on March 17th 2009 and how much was the SAME ,or similar, apartment on March 17th 2007 ?

How much of the difference is attributable to the fall in the value of Sterling?

kanelli wrote:Robby, not sure if you were talking to me or VW earlier. My experience of bad build quality came from a Springs villa. We were the first occupants. When drilling holes for the curtain rods we found large air pockets in the concrete, because the drill just sank into the wall. I had to fill in order to fasten the screws. Some months later my skinny, light cat decided to walk across the curtain rod and a large chunk of concrete came out of the wall where the curtain rod was fixed. The tiles on the floor could chip if you even dropped a small sugar spoon. The water drain was place in the wrong spot on the balcony, so when it did rain or we washed the balcony I had to squeegee a large puddle of water to the drain. Outside of our villa the guys who did the street put the drain on the upward sloping side, not the downward sloping side, so we constantly had a puddle of water out front from everyone washing their cars, and we had flooding out front when it did rain. Water leaked into our sliding doors and front door when we had rain. The water pump was faulty. The water heater in spare room was faulty. The toilet seat fixtures were faulty and needed to be adjusted all the time. Our neighbours had to dig up their driveway because the water tank leaked. Floor tiles were uneven, and the grout was three or four different shades of brown in the same room - guess they got sand and dirt in the grout and just applied it as is. This is all I can think of at the moment.