admon

Just saw this ad:

International City

Persia Cluster - 1br
743sqft
aed 850,000 net to owner, ready


I think I'll have two..

Blue Cat

someone has made 100% profit

admon

I think they were originally 340k or something like that.

I can't imagine anyone in their right mind buying it..

where's dxbdude 'got a deal for you'..

admon

http://www.gulfnews.com/business/Markets/10281865.html

Morgan Stanley stating that property prices in the UAE have 'fell off a cliff'..

I guess they are officially off the governments Xmas card list..

Blue Cat

if they have representation here today, they won't tomorrow

The Dean

Property prices in Dubai have slumped 25 per cent from the market's peak in September, while Abu Dhabi prices have declined 20 per cent, Morgan Stanley said in a report received yesterday.

Now that IS dramatic............ 25 percent in less than five months........

W10

It's actually more than that in the pricey areas (Eg: Palm)

Blue Cat

and another 25% in the next 6 months I reckon.

Confucius

They have in DIFC...Visited their neighbours yesterday...Good people...

Ethos83

Arabian Business Weekly had an article that said rents in Dubai have fallen 30% in the last two months.

Dubizzle adverts for villas certainly confirms this.

I expect another 30% drop through early summer, and then perhaps a free-fall after that when the impact of families leaving at the end of the school year is fully felt.

Confucius

Any ideas on Sharjah Corniche rents???

Jeeper

weeeeeeeeeeeeeeeeeeeeeeeeeeeeeee..........