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Dubai Property Crash

Dubai Property Crash

Old Mar 14th 2009, 2:02 pm
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Default Dubai Property Crash

http://www.dubaipropertycrash.com/wp...und-predicted/

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Old Mar 14th 2009, 2:33 pm
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Default Re: Dubai Property Crash

"People are loosing jobs all over the world due to the global financial crisis. This is the best time to get a job in Dubai."

.... riiiiight.
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Old Mar 14th 2009, 3:27 pm
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Default Re: Dubai Property Crash

We had a really interesting chat with our landlord - who's a really nice, normal chap with quite a twisted (even British) sense of humour. Anyhow, amid his usual anecdotes of dodgy dealings and tales of woe, he put forward that "they" are predicting a further 30% crash in rentals in Dubai this year, but a 15% increase in AD. Obviously, no concrete sourses, but he's a local... and not overly hopeful.
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Old Mar 14th 2009, 4:53 pm
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Default Re: Dubai Property Crash

If rents come down that much in Dubai, but go up that much in AD I would expect to see a bit of a levelling out- people will live in Green Community/Dubai Marina/JLT and just commute to work in AD. That will tend to equalise the rents in both places. They are too close together to have such a huge difference.
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Old Mar 14th 2009, 5:13 pm
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Default Re: Dubai Property Crash

Originally Posted by Border Reiver View Post
If rents come down that much in Dubai, but go up that much in AD I would expect to see a bit of a levelling out- people will live in Green Community/Dubai Marina/JLT and just commute to work in AD. That will tend to equalise the rents in both places. They are too close together to have such a huge difference.
I agree, DH says he has heard of alot of people who are planning on moving out of AD.
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Old Mar 14th 2009, 5:19 pm
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Default Re: Dubai Property Crash

Originally Posted by Blue Cat View Post
I agree, DH says he has heard of alot of people who are planning on moving out of AD.
No, no, no. Last thing we need is all those low class Abu Dhabiites coming to Dubia, would really bring the neighbourhood down. Keep them in their slums where they belong.

I sense the end of an era. Woe, woe is me......
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Old Mar 14th 2009, 5:25 pm
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Default Re: Dubai Property Crash

Originally Posted by Roadking View Post
No, no, no. Last thing we need is all those low class Abu Dhabiites coming to Dubia, would really bring the neighbourhood down. Keep them in their slums where they belong.

I sense the end of an era. Woe, woe is me......

But we have heard that the streets are paved with Gold in Dubai and you can pick up free cars outside the airport?
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Old Mar 14th 2009, 5:46 pm
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Default Re: Dubai Property Crash

Originally Posted by bimcnorth View Post
But we have heard that the streets are paved with Gold in Dubai and you can pick up free cars outside the airport?
Only if you pay the parking fee....
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Old Mar 14th 2009, 6:03 pm
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Default Re: Dubai Property Crash

Originally Posted by Roadking View Post
No, no, no. Last thing we need is all those low class Abu Dhabiites coming to Dubia, would really bring the neighbourhood down. Keep them in their slums where they belong.

I sense the end of an era. Woe, woe is me......
Yeah, some of them might even be able to spell the name of the city they live in correctly....
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Old Mar 14th 2009, 6:08 pm
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Default Re: Dubai Property Crash

Originally Posted by Autonomy View Post
Yeah, some of them might even be able to spell the name of the city they live in correctly....
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Old Mar 14th 2009, 6:24 pm
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Default Re: Dubai Property Crash

Originally Posted by Autonomy View Post
Yeah, some of them might even be able to spell the name of the city they live in correctly....
Admon, he'll call you a pedant for that.
It just makes me lurve you more Morph
I posted a song on Music thread and Youtube tolerated piece being spelled peice......me no likee .Song's great though
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Old Mar 14th 2009, 8:40 pm
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Default Re: Dubai Property Crash

Originally Posted by Hello.Kitty View Post
We had a really interesting chat with our landlord - who's a really nice, normal chap with quite a twisted (even British) sense of humour. Anyhow, amid his usual anecdotes of dodgy dealings and tales of woe, he put forward that "they" are predicting a further 30% crash in rentals in Dubai this year, but a 15% increase in AD. Obviously, no concrete sourses, but he's a local... and not overly hopeful.
I don't follow that............

Forget the comparisons with Dubai - why should Ab Dab rentals rise at all in the current environment?

Last edited by The Dean; Mar 14th 2009 at 8:40 pm. Reason: spacing
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Old Mar 15th 2009, 5:01 am
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Default Re: Dubai Property Crash

I am assuming it's because A-D has a smaller supply of housing, and under current economic conditions, a slightly stronger demand than in Dubai.

I agree rents won't go up, but I don't expect them to decline noticeably, at least within the next six months.

As for people commuting: know a handful myself. It's a long drive, but if you're working in one of the new masterplanned developments just outside A-D and don't have to drive onto the island itself, it's possible to have a Marina-AD commute in under a hour.

Originally Posted by The Dean View Post
I don't follow that............

Forget the comparisons with Dubai - why should Ab Dab rentals rise at all in the current environment?
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Old Mar 15th 2009, 5:09 am
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Default Re: Dubai Property Crash

The whole commute v. rents thing was covered in the National this weekend...

http://www.thenational.ae/article/20...127/0/BUSINESS
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Old Mar 15th 2009, 9:23 pm
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Default Re: Dubai Property Crash

Originally Posted by B Bear View Post
The whole commute v. rents thing was covered in the National this weekend...

http://www.thenational.ae/article/20...127/0/BUSINESS

So basically

2004 : Sharjah : Dubai

2009 : Dubai : Abu Dhabi

So Dapper Dubai becomes Shitty Sharjah in less than 5 years?
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