Negative equity
 

OOOPPPPSSSS

Negative equity hits 70% of expat property owners in UAE

http://www.arabianbusiness.com/55169...rty-owners-uae

"Seven out of 10 expatriates who own a property in the UAE have revealed if they sold it now they would lose money, according to the findings of a new study.

The research by market research firm Real Opinions found that four out of 10 UAE expatriates had bought property in the country, of which 22 percent had bought off-plan and still had further installments to pay.

Of these a quarter said it was unlikely that they would be able to make the next payment – highlighting the importance of job security in the region at present, according to CEO of the research firm, Dan Healy."

Re: Negative equity
 

hardly surprising is it? :huh:

Re: Negative equity
 

I wonder if they can get to positive equity before the poor quality of the buildings makes it undesirable to live in as will happen with a few of the properties here?

N.

Re: Negative equity
 

Am now on my 2nd round of villa viewings, since my LL wants his place back, and I have to say, based on what I have seen, I would NEVER buy a property here until the quality issues are addressed. I do wonder about those who have bought as a long-term investment, since the property itself is not a long term invetsment vehicle....

Re: Negative equity
 

where are you looking?

Re: Negative equity
 

Springs, Meadows etc and down around Umm Suqqeim and Jumeirah...

Re: Negative equity
 

20 years max these Springs/EH/Meadows will be levelled.

Re: Negative equity
 

only 15 years to wait then :p

Renting an Emaar property will be a last resort for us, I am looking for something privately owned - by someone who has least 20 villas.

Re: Negative equity
 

Which is why I would never buy here..... But dont plan on being in Dubai for that long so renting is fine....

Re: Negative equity
 

Whole compound of new villas on Al Wasl Road near the Dive Centre. No idea the price or size but noticed they are now advertising with the proverbial sign hanging out a window.

Re: Negative equity
 

It does seem to be all you get for paying 5% commission, doesnt it......:rofl:

Re: Negative equity
 

Think they call it creative marketing...:p

Re: Negative equity
 

..and, of course, its carbon neutral and recyclable....

Re: Negative equity
 

Property is never a long term investment vehicle unless you're buying property that will last for the long term and remain livable...

Last time I looked at Forbes the top 10 rich people made most of their money from buying and holding shares, owning and/or running companies or being born into despotic families who own all the oil ;)

N.