I thought the property market had collapsed out there?
Mar 3rd 2009, 2:51 pm
#16
Forum Regular
Joined: Mar 2009
Location: Manama
Posts: 277
Re: I thought the property market had collapsed out there?
This time last year anything with a pulse and walking upright was a 'property consultant/manager' in DXB/AD.
You probably met one in the UK this week 'do you want fries with that?'
Again, this time last year I was wondering had I missed some magical boat, and Mrs Bear was mentally adding it to my growing list of shortcomings, not having a portfolio of 3 or 4 properties that would ensure a life of milk and honey.
Bearing in mind the tidal wave of first payments coming due on multiple properties 'bought' at the height of the market in the late summer, and now worth perhaps 60% of original value,
I can only imagine the sleepless nights that many are having.
Come and have a look and make your mind up - holidays from UK are cheap at the moment.
I can only imagine it would be like trying to sell water to drowning people.
You probably met one in the UK this week 'do you want fries with that?'
Again, this time last year I was wondering had I missed some magical boat, and Mrs Bear was mentally adding it to my growing list of shortcomings, not having a portfolio of 3 or 4 properties that would ensure a life of milk and honey.
Bearing in mind the tidal wave of first payments coming due on multiple properties 'bought' at the height of the market in the late summer, and now worth perhaps 60% of original value,
I can only imagine the sleepless nights that many are having. Come and have a look and make your mind up - holidays from UK are cheap at the moment.
I can only imagine it would be like trying to sell water to drowning people.
Mar 3rd 2009, 3:23 pm
#17
BE Forum Addict
Thread Starter
Joined: Jul 2007
Location: London and Dubai
Posts: 1,072
Mar 4th 2009, 7:07 am
#18
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: I thought the property market had collapsed out there?
Met someone today whose delightful 5-bed villa next door on Palm Jumeirah was going for AED14.5m a few months ago. Now they have reduced to AED6.5m which is beginning to look attractive. Beautiful waterfront location. The person I met is renting his for AED400K which still seems high to me.
and probably not as well built as a barratt house.
Mar 4th 2009, 2:34 pm
#19
BE Enthusiast
Joined: Dec 2008
Location: Western Australia
Posts: 758
Re: I thought the property market had collapsed out there?
Met someone today whose delightful 5-bed villa next door on Palm Jumeirah was going for AED14.5m a few months ago. Now they have reduced to AED6.5m which is beginning to look attractive. Beautiful waterfront location. The person I met is renting his for AED400K which still seems high to me.
anyway 400k is still a 6% rental return which for Dubai is fairly standard.
