British Expats - Here we go again....... property 'flipping'......

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- - Here we go again....... property 'flipping'...... (https://britishexpats.com/forum/sand-pit-116/here-we-go-again-property-flipping-775070/)

The Dean

Oct 19th 2012 7:57 am

Here we go again....... property 'flipping'......

Of course, it will all end in tears........... any chance of intervention by the Dubai government to put a stop to this practice? No I suppose not...... I still can't work out how/why some prices are rising while other areas are still dead......

http://www.thenational.ae/thenationa...n-brokers-warn

Jim Smith

Oct 19th 2012 10:05 am

Re: Here we go again....... property 'flipping'......

Quote:

Originally Posted by The Dean (Post 10338731)

Could it be called market manipulation? Must be sad for those who invested about 6 years ago and whose property isn't even out of the ground yet to hear the market is supposedly booming again!

Boomhauer

Oct 19th 2012 11:22 am

Re: Here we go again....... property 'flipping'......

The article says property is literally changing hands as soon as the flipper has the deeds/title. What I don't understand is why someone would buy a property from the flipper when they could have bought it direct from the developer???:confused:

Couldn't most of these supposed flippers just be put up by the developer to create the perception of a hot property?

norsk

Oct 19th 2012 4:14 pm

Re: Here we go again....... property 'flipping'......

Quote:

Originally Posted by Jim Smith (Post 10338874)

Could it be called market manipulation? Must be sad for those who invested about 6 years ago and whose property isn't even out of the ground yet to hear the market is supposedly booming again!

I think this is bullshit, and if flipping is actually happening I suspect it is middlemen acting on behalf of the developers.

There are very few others in the market who have the means to fund such a thing and who would benefit hugely if there is inflation of property prices. Certain other more parasitic organisations like Better Homes will happily fuel the fire as they obviously stand to earn big money again if prices go up...

DesertOcean

Oct 19th 2012 4:36 pm

Re: Here we go again....... property 'flipping'......

Is that picture of the actual buyers, they look more like they were bused in from a labour camp, just saying:unsure:

Boomhauer

Oct 19th 2012 6:39 pm

Re: Here we go again....... property 'flipping'......

Quote:

Originally Posted by DesertOcean (Post 10339420)

Is that picture of the actual buyers, they look more like they were bused in from a labour camp, just saying:unsure:

I was thinking the same thing...

Maybee they are menial help employees of wealthy people who are there to stand in line because the actual buyer doesn't want to?

Paracletus

Oct 20th 2012 6:25 am

Re: Here we go again....... property 'flipping'......

Quote:

Originally Posted by DesertOcean (Post 10339420)

Is that picture of the actual buyers, they look more like they were bused in from a labour camp, just saying:unsure:

They are the flippers..says alot about the house prices.

busybee2

Oct 20th 2012 2:12 pm

Re: Here we go again....... property 'flipping'......

Quote:

Originally Posted by Boomhauer (Post 10339592)

I was thinking the same thing...

Maybee they are menial help employees of wealthy people who are there to stand in line because the actual buyer doesn't want to?

yep they are paid to stand in line.

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