TA5

Yes, that is what everyone would like, but the UAE is setting itself up for a MASSIVE crash in the very near future.

Tell me this, when the 40,000 units currently under construction are completed in 2-3 years (not including palm jebel ali, dubai waterfront, palm deira, burj dubai, and about 100-150,000 units that will be completed in the next 10 years), who is going to move there? Really, who? That's enough new housing for 250,000 new people in the next 3 years, and over 1 million in the next ten, and expensive housing at that. For a place that is struggling to get anywhere close to its desired population growth that is market suicide, as it will be a market in massive oversupply for 10-30 years at the current underperforming growth rates.

BMW 318i

Hardly, prices for the villa type we want have been increasing over the past few weeks!

Palm Tree

Do you have any idea how many people live on this planet who are just waiting to invest (oh sorry, throw away would be more along your lines) their money in Dubai? There are many countries where investment just could not be an option and just because Europeans and Americans are not jumping at opportunities coming their way, there are plenty waiting on the other side who are more than happy to do so and who will be the once with a big smile on their face?

Just because not all properties will be occupied all at the same time doesn't mean they will not belong to happy owners who will just make use of it whenever they please to or even let their friends or people they want to impress use them.

Ever heard of holiday homes in Spain? Do you know how many Spanish people thought Europeans were crazy and those homes would never fill up? Do you know how much a home in Spain cost 10 years ago in the middle of nowhere and how much it is now?

Thanks to people like you there is more left for those with faith in something worth grabbing who otherwise wouldn't stand a chance.

TA5

http://www.ameinfo.com/60573.html

Palm tree, you really need to come out about what you do for a living, as biased opinions from real estate agents should be known when they are posted.

TA5

http://www.ameinfo.com/60603.html


Keep in mind that AMEinfo is a government propoganda machine that pretty much never says anything but 'dubai is perfect'. Pretty bad when a propoganda machine starts putting out bad news about something it is designed to glorify.

clownfish

TA5, I have been reding your opinions on the property market with interest as I might be buying and it's always great to get a second opinion. But I strongly disagree with you on the AME Info issue :scared: . I am currently cooperating with the company for study-purposes and it is NOT a government proganda. Obviously they have an interest in being positive about Dubai as a whole, but from that to blaming them for propaganda is simply not true.

And keep on raving about the property issues - very interesting .

clown

Palm Tree

I suck on my husband's pockets for my living and entertain our kids! Basically, just a housewife. Before my move to Dubai, I did the following:

6 years Primary School
3 years Secondary School
4 years School of Economics, Commercial apprenticeship at Oerlikon Buehrle Machine Tools Company in Zurich
3 years School of Economics and Business Administration (SEBA) in Zurich
5 years at Eurocentres language schools head office in Zurich, Finance Department
2 years at Accounts office in Bournemouth
1 year at Eurocentre English Language school, Administration
2 years at Video Nites Bournemouth running my own video shop
12 years helping in setting up businesses with my husband, 3 restaurants, 1 night club, 1 take-away, 1 video shop, 1 computer shop, construction company in UK and Iran. All paperwork, including accounts and salaries done by me.

SEBA school is a higher education that provides a very general and broad education. Topics range from History, Politics to Mathematics, International Law, Accounting, Marketing, Psychology and Management just to name a few. The school focuses on a very close relationship to the economy. Part of the diploma are several case studies and analysis of companies. Unlike in the UK when trying to gain diplomas a broad range of subjects needs to be studied which are all set and there are no choices. University is only geared towards medical and law professions. I meanwhile also speak 10 languages. Czech, Slovak, Russian, German, Swiss German, French, Italian, Spanish, Farsi, English, getting accustomed to Arabic.

I continue gaining an insight into the worlds happenings by observing several news medias and websites as well as making contacts with people from a wide range of professions.

Does this info help you as a clue of how I earn my living?

Palm Tree

What you are portraying as bad news being put out is nothing but positive news.

Premiums on RE-sale MARGINS are falling.
Speculators are not achieving EXPECTED RE-sale price.
It is a CORRECTION phase.

Original sale prices are not affected. What are speculators expectations? A correction phase is excellent news, except that after a correction phase a big boom follows once more.

novita77

Absolutely ...

How r u PT? Haven't see u much lately on here.

TA5

It specifically says 'developers suggest it is a correction phase'.

Nowhere does it say 'it is a correction phase'. Of course developers are suggesting is a correction phase, what else are they supposed to say when the market takes a turn for the worse. In reality it isn't, it is supply completely overpowering demand. It would be nice if it was a correction phase, but it isn't, it is the market starting to turn downwards, with nothing to give it an upwards boost for a long time.

We'll just have to wait and see, its only your money we're talking about...

Palm Tree

Exactly, lets just wait and see! Maybe you should learn to relax when reading articles and look between the lines too. Media has always 2 types of clients. Those that eat out of their palm (called brainwashing) and those that can translate it for their own benefit.

Palm Tree

Hi Novi. My life is designed to be very hectic at times and can just pop in and out. I am doing fantastic by the way, still on the road of recovery.

TA5

Yea, but you are living in a society where the media feeds exactly what the government wants them to, and never has a bad thing to say about anything to do with the place. You are being brainwashed if you are listening to anything that is written in any of the big papers or magazines here, or ameinfo.com. Those are nothing more than propaganda machines for dubai.

For instance, when they quote big population growth figures for dubai, you'll never see them mention that 65%+ of the population growth consisted of indian and pakistani labourers for all the construction projects. I'm sure they are all going to be buying 2M dirham homes once they are done with their projects. When you take away the labor population increase, dubai isn't growing all that quick at all, but you'd never know it reading the papers...