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Dubai Housing Prices Tumble To 2008 Levels

Dubai Housing Prices Tumble To 2008 Levels

Old Sep 19th 2019, 11:10 am
  #61  
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

Originally Posted by Millhouse View Post
Nah, it's a fairly standard provision we negotiated - but the principle is right, when you invest you should look at all the possible ways you will lose the money and try and mitigate as many of them as possible. Most people only look at the ways it will make them rich.

Using the dice rolling analogy... where 1 is a loss, 3 is break even, 6 is a great deal, of the deals done in our current fund, we have:
3 (which we thought would be a 6 but we didn't lose anything so all good),
6 (which I thought would be a three - all down to luck),
1 (which I think will be a one, but others think it will be a five/six)
3 (which I think will be a three, but others think it will be a two)
3/4 (which I think will be a three/four, others agree)
5 (which I think will be a three)

So you can see - in a standard fund we expect to lose on one, make out on two, and break even on three. That's how it rolls in reality - anyone who tells you otherwise is lying. We have one deal that is a swing deal which will basically make us kings, or just above average. If we stay on this track we will be one of the best performing regional funds, but note, it is a very low bar.
Nice analogy
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Old Sep 23rd 2019, 5:38 pm
  #62  
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

Originally Posted by Millhouse View Post


Probably the same reason as you came...
Can’t see how. My work requires full literacy.
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Old Sep 23rd 2019, 5:41 pm
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

Originally Posted by Me 2.0 View Post


Can’t see how. My work requires full literacy.
So did you buy?
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Old Sep 24th 2019, 11:35 am
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

Q3 numbers are in - impressive given that the quarter isn't over yet.

https://www.zawya.com/uae/en/busines...SNG_154699718/
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Old Sep 24th 2019, 12:37 pm
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

Originally Posted by Millhouse View Post
Q3 numbers are in - impressive given that the quarter isn't over yet.

https://www.zawya.com/uae/en/busines...SNG_154699718/
Some decent drops all round. I wonder which nationality is buying in Dubai or even considering to buy, who is the target market. Indian residential market is also in a similar state of free fall - except for low cost housing.
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Old Sep 25th 2019, 4:34 am
  #66  
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

This stood out for me -

"Total international guests Jan-July 2019 reached 9.58 million, up 3.6% when compared to the same period last year.

Citywide occupancy rate for the same period stood at 74%, dipped 2% YoY. Revenue per Available Room (RevPAR) and Average Daily Rate (ADR) witnessed double-digit declines on annual basis, plunged 13.5% and 11.3%, respectively."

The Chinese tourism factor. Occupancy up slightly, RevPar down quite a lot.
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Old Sep 25th 2019, 9:06 am
  #67  
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

Originally Posted by TheShed View Post
This stood out for me -

"Total international guests Jan-July 2019 reached 9.58 million, up 3.6% when compared to the same period last year.

Citywide occupancy rate for the same period stood at 74%, dipped 2% YoY. Revenue per Available Room (RevPAR) and Average Daily Rate (ADR) witnessed double-digit declines on annual basis, plunged 13.5% and 11.3%, respectively."

The Chinese tourism factor. Occupancy up slightly, RevPar down quite a lot.
I believe the RevPar numbers etc. as I know the ex-Deloitte team that prepare them, and I mostly agree with your conclusion. I do question the government numbers and that tourist arrivals are up, and I certainly wonder what the definition of a tourist is. Someone on a 3-month tourist visa looking for a job or whoring is not a tourist but would almost certainly be recorded as one.
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Old Sep 25th 2019, 9:54 am
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

Originally Posted by Millhouse View Post
I believe the RevPar numbers etc. as I know the ex-Deloitte team that prepare them, and I mostly agree with your conclusion. I do question the government numbers and that tourist arrivals are up, and I certainly wonder what the definition of a tourist is. Someone on a 3-month tourist visa looking for a job or whoring is not a tourist but would almost certainly be recorded as one.
Agree wholeheartedly. One of the FB groups that I occasionally look at seems to be full of Brits coming over here without jobs and chasing a dream (normally unsuccessfully) and doing visa runs every month.
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Old Nov 3rd 2019, 2:00 pm
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Default Re: Dubai Housing Prices Tumble To 2008 Levels

Originally Posted by Millhouse View Post
I believe the RevPar numbers etc. as I know the ex-Deloitte team that prepare them, and I mostly agree with your conclusion. I do question the government numbers and that tourist arrivals are up, and I certainly wonder what the definition of a tourist is. Someone on a 3-month tourist visa looking for a job or whoring is not a tourist but would almost certainly be recorded as one.
HaHa, So an escalation of tensions in the gulf and the presence lots of american naval personnel should have a positive impact on UAE tourism figures? who would have guessed. Not someone who bought property in Dubai that for sure.
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