Negative equity

Old Apr 6th 2009, 5:57 am
  #1  
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Default 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."
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Old Apr 6th 2009, 6:13 am
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Default Re: Negative equity

hardly surprising is it?
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Old Apr 6th 2009, 8:11 am
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Default 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?

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Old Apr 6th 2009, 8:15 am
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Default Re: Negative equity

Originally Posted by Norm_uk View Post
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.
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....
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Old Apr 6th 2009, 8:22 am
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Default Re: Negative equity

Originally Posted by TGFKASE View Post
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....
where are you looking?
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Old Apr 6th 2009, 8:24 am
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Default Re: Negative equity

Originally Posted by Blue Cat View Post
where are you looking?
Springs, Meadows etc and down around Umm Suqqeim and Jumeirah...
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Old Apr 6th 2009, 8:27 am
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Default Re: Negative equity

20 years max these Springs/EH/Meadows will be levelled.
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Old Apr 6th 2009, 8:35 am
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Default Re: Negative equity

Originally Posted by commander View Post
20 years max these Springs/EH/Meadows will be levelled.
only 15 years to wait then

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.
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Old Apr 6th 2009, 8:43 am
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Default Re: Negative equity

Originally Posted by commander View Post
20 years max these Springs/EH/Meadows will be levelled.
Which is why I would never buy here..... But dont plan on being in Dubai for that long so renting is fine....
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Old Apr 6th 2009, 8:44 am
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Default Re: Negative equity

Originally Posted by TGFKASE View Post
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....
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.
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Old Apr 6th 2009, 8:48 am
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Default Re: Negative equity

Originally Posted by Roadking View Post
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.
It does seem to be all you get for paying 5% commission, doesnt it......
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Old Apr 6th 2009, 8:56 am
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Default Re: Negative equity

Originally Posted by TGFKASE View Post
It does seem to be all you get for paying 5% commission, doesnt it......
Think they call it creative marketing...
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Old Apr 6th 2009, 8:57 am
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Default Re: Negative equity

Originally Posted by Roadking View Post
Think they call it creative marketing...
..and, of course, its carbon neutral and recyclable....
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Old Apr 6th 2009, 10:30 am
  #14  
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Default Re: Negative equity

Originally Posted by TGFKASE View Post
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....
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

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