Negative equity
Apr 6th 2009, 5:57 am
#1
**** it we'll do it live
Thread Starter
Joined: Oct 2004
Location: Dubai
Posts: 7,892
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."
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."
Apr 6th 2009, 6:13 am
#2
Concierge
Joined: Feb 2007
Posts: 29,625
Re: Negative equity
hardly surprising is it? 
Apr 6th 2009, 8:11 am
#3
MODERATOR
Joined: Dec 2004
Location: Dubai
Posts: 6,373
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.
N.
Apr 6th 2009, 8:15 am
#4
Go on.. Pull my finger..
Joined: Jul 2008
Location: Dubai
Posts: 5,726
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....
Apr 6th 2009, 8:22 am
#5
Concierge
Joined: Feb 2007
Posts: 29,625
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....
Apr 6th 2009, 8:27 am
#7
banned
Joined: Oct 2008
Posts: 7,611
Re: Negative equity
20 years max these Springs/EH/Meadows will be levelled.
Apr 6th 2009, 8:44 am
#10
If I have to explain...
Joined: Sep 2008
Location: Where ever the road takes me
Posts: 3,999
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....
Apr 6th 2009, 8:56 am
#12
If I have to explain...
Joined: Sep 2008
Location: Where ever the road takes me
Posts: 3,999
Apr 6th 2009, 10:30 am
#14
MODERATOR
Joined: Dec 2004
Location: Dubai
Posts: 6,373
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....
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.
