Kix

There are times when I feel sorry for Scamp.

This isn't one of then.

scrubbedexpat141

So you HAVE been in my bedroom...

scrubbedexpat141

Hahaha but let's face it, this is one of only a few threads that isn't miserable...

Irishbeekeeper

yes....i have

shiva

Partly but partly a concern that the bubble that's already inflating will pop spectacularly in a weeks time. My shit bucket is currently ahead of the cash one and I'd like the bubble to continue for a bit longer to reverse that situation.
It is after all ostensibly a free vote so not really a foregone conclusion, a fact that pretty much most of the country has forgotten

Blue Cat

I am not sure if I want them to win this bid or not, rents will all go up etc.

Ethos83

Only in Dubai would they take a second rate 'international' marketing conference and turn it into the next coming of Jesus Christ.

Millhouse

Exactly. I'm not really sure the link between the expo and rents. I'm sure it didn't really affect Milan. Afterall, all they are doing is building a larger Global Village...

Meow

Any excuse though.

Surely there will be building projects, more jobs, more people coming to live here so more demand?

scrubbedexpat141

Whilst I agree, the only 'demand' in the equation is for an increase from Landlords....with very very little justification.

The bollocks reasons I was presented with:

'the city is busier, now'
'the roads are finished'
'other places are going for this price'
'you have been paying too little'

I don't believe my block is anywhere near full. In fact, I know it isn't.

Oh well, I'd be jumping on the bandwagon if I were a landlord.

the_red_sheep

I’ve also heard that building managers in some areas are setting minimum leasing prices for apartments so to keep the reputation and allure of the building high.

Also, demand will only become an issue if it starts to outstrip supply. Given the market is already oversupplied and that there are a host of new, large developments in various stages of progress is seems unlikely that in the short to medium term this will realistically cause any increased pressure on prices. Of course the landlords here perception of supply and demand may be considerably different…

scrubbedexpat141

Exactly....the supply and demand model the rest of the world's economics are generally based on seems to be roundly ignored here.

Oh well, what can you do?

Kix

Says it all don't you think?

OleJanx

Yep.

Irishbeekeeper

Well I was told by a dubious source that if Dubai gets the Expo, all the unfinished property projects that are stuck in limbo will HAVE to be finished i.e. thats one of the commitments the city has to make to the powers that be, is that IF they get the expo, then all unfinished / stuck in limbo development transactions need to be completed before the start of the Expo...or words to that effect.
Hence the wait with bated breath for quite a few investors and henceforth the expected rise in prices of property and therefore the rents
But having said that, this is Dubai and as said before by my esteemed colleague, the perfect economic model does not apply here!