Dubai Housing Prices Tumble To 2008 Levels
#1
Onwards and Upwards!
Thread Starter
Joined: Sep 2010
Posts: 884
Dubai Housing Prices Tumble To 2008 Levels
#3
Forum Regular
Joined: Sep 2018
Posts: 35
Re: Dubai Housing Prices Tumble To 2008 Levels
Increasing, perhaps. Not accelerating.
#4
Re: Dubai Housing Prices Tumble To 2008 Levels
Man sometimes I hate being right about these sort of things.
Watch this space next year folks, its gonna get worse, I can feel it.
Now its come to people I personally know who have been fired and companies I have worked with have closed shop.
The IT market has fallen to the same fate the mobile market has suffered. The same mentality (people from a certain place in the world but never mind that), sell sell sell, doesnt matter how much you make, buy and sell and keep the cash rolling, loss or profit will be calculated by year end. As long as the sale happens.
It might be great for the consumers but this is not a self sustaining business model because in the end the serious business players just end up leaving or bowing out. VAT and Amazon has ***** the market. I can only talk about IT and I forecast more and more businesses leaving by next summers.
As a one time property owner here in Dubai, I keep my eye on the property market as well and its pretty shoddy now. The same flat for 500k is down to 300k and I am willing to bet it will be 250k next summer. Thats a 50% drop in almost 2 years. Rent income has also gone down drastically. A 60K annual rental is now at 32K with the service companies across the board increasing their service charges instead of decreasing them! w t f man, this cant run in the long term you know.
Oh and by the way they have opened the market to the chinese cash and they are going crazy buying here, dont ask me why, I dont have an answer to that
Watch this space next year folks, its gonna get worse, I can feel it.
Now its come to people I personally know who have been fired and companies I have worked with have closed shop.
The IT market has fallen to the same fate the mobile market has suffered. The same mentality (people from a certain place in the world but never mind that), sell sell sell, doesnt matter how much you make, buy and sell and keep the cash rolling, loss or profit will be calculated by year end. As long as the sale happens.
It might be great for the consumers but this is not a self sustaining business model because in the end the serious business players just end up leaving or bowing out. VAT and Amazon has ***** the market. I can only talk about IT and I forecast more and more businesses leaving by next summers.
As a one time property owner here in Dubai, I keep my eye on the property market as well and its pretty shoddy now. The same flat for 500k is down to 300k and I am willing to bet it will be 250k next summer. Thats a 50% drop in almost 2 years. Rent income has also gone down drastically. A 60K annual rental is now at 32K with the service companies across the board increasing their service charges instead of decreasing them! w t f man, this cant run in the long term you know.
Oh and by the way they have opened the market to the chinese cash and they are going crazy buying here, dont ask me why, I dont have an answer to that
#5
Re: Dubai Housing Prices Tumble To 2008 Levels
Man sometimes I hate being right about these sort of things.
…its gonna get worse
As a one time property owner here in Dubai, I keep my eye on the property market as well and its pretty shoddy now. The same flat for 500k is down to 300k and I am willing to bet it will be 250k next summer. Thats a 50% drop in almost 2 years. Rent income has also gone down drastically. A 60K annual rental is now at 32K with the service companies across the board increasing their service charges instead of decreasing them! w t f man, this cant run in the long term you know.
…its gonna get worse
As a one time property owner here in Dubai, I keep my eye on the property market as well and its pretty shoddy now. The same flat for 500k is down to 300k and I am willing to bet it will be 250k next summer. Thats a 50% drop in almost 2 years. Rent income has also gone down drastically. A 60K annual rental is now at 32K with the service companies across the board increasing their service charges instead of decreasing them! w t f man, this cant run in the long term you know.
I feel sorry for businesses that have to wind up and close down; as you probably know it is a nightmare to close a company and cancel a license here. It is very easy to setup but near impossible to close (kinda like Hotel California).
Welcome to the Hotel UAE yah,
such a lovely blace, such a lovely blace,
anytime of the year, inshallah, you can come here,
blenty blace for you in jumeirah, sharjah, ajman and fujairah
for some it can be heaven
for some it can be hell
yanni, we are brogrammed to receive,
you can check out any time
but you can never leave!
#6
Re: Dubai Housing Prices Tumble To 2008 Levels
[QUOTE=
Welcome to the Hotel UAE yah,
such a lovely blace, such a lovely blace,
anytime of the year, inshallah, you can come here,
blenty blace for you in jumeirah, sharjah, ajman and fujairah
for some it can be heaven
for some it can be hell
yanni, we are brogrammed to receive,
you can check out any time
but you can never leave![/QUOTE]
That actually made me laugh !
You have a great future here
Welcome to the Hotel UAE yah,
such a lovely blace, such a lovely blace,
anytime of the year, inshallah, you can come here,
blenty blace for you in jumeirah, sharjah, ajman and fujairah
for some it can be heaven
for some it can be hell
yanni, we are brogrammed to receive,
you can check out any time
but you can never leave![/QUOTE]
That actually made me laugh !
You have a great future here
#7
Re: Dubai Housing Prices Tumble To 2008 Levels
Hahaha! Now THAT was funny man! Have an upvote!
Yeah I would agree that theres more tough love down the road!
Yeah I would agree that theres more tough love down the road!
#9
Forum Regular
Joined: Sep 2018
Posts: 35
Re: Dubai Housing Prices Tumble To 2008 Levels
I can see why you came to the sandpit.
#12
Forum Regular
Joined: Sep 2018
Posts: 35
Re: Dubai Housing Prices Tumble To 2008 Levels
Doubt it. I could find a job in London.