The price of property is about to .............
Nov 2nd 2008, 2:42 pm
#1
Forum Regular
Thread Starter
Joined: Apr 2008
Location: Dubai
Posts: 132
The price of property is about to .............
Has anone noticed the amount of property going up for sale, over the last couple of weeks dozens of properties have been placed on the market just on arabian ranches .......... but nothing is selling. Lets hope prices are going to drop
Nov 2nd 2008, 3:32 pm
#2
A bubbly-jock...
Joined: Mar 2005
Location: Teneriffe
Posts: 6,262
Re: The price of property is about to .............
...same probably also goes for the GB pound..good time to sell and go home..I suppose.
Nov 2nd 2008, 4:00 pm
#3
Account Closed
Joined: Oct 2008
Posts: 2,502
Re: The price of property is about to .............
If you can sell, that is!
The boom's already peaked. Should have put the house on the market before July or August, at the latest.
The papers are still talking about price increases, but after living through both the American and British housing booms and watching them peak and turn into busts, I'm seeing the same parallels happen over here. Right now we're at a phase where prices are still climbing, but far fewer sales are happening, which means the next phase will be the beginning of price cuts. This stagnation period of high prices but few sales will last perhaps a year, then the bust will begin.
The boom's already peaked. Should have put the house on the market before July or August, at the latest.
The papers are still talking about price increases, but after living through both the American and British housing booms and watching them peak and turn into busts, I'm seeing the same parallels happen over here. Right now we're at a phase where prices are still climbing, but far fewer sales are happening, which means the next phase will be the beginning of price cuts. This stagnation period of high prices but few sales will last perhaps a year, then the bust will begin.
Aussie dollar dropped 23 percent against the dirham in the last few months. So people selling up now make a handy increase when transferring money back to Australia..especially if their house/apartment here also went up in value (most between 40 and 60% increase over last year or so).
...same probably also goes for the GB pound..good time to sell and go home..I suppose.
...same probably also goes for the GB pound..good time to sell and go home..I suppose.
Nov 2nd 2008, 6:42 pm
#4
BE Forum Addict
Joined: Aug 2004
Location: Dubai
Posts: 2,082
Re: The price of property is about to .............
As a prospective buyer at the start of the year I registered with many websites and estate agents. Subsequently I received lots of mailings on an almost daily basis.
These mailings not only contained listings....but also news and data...such as sales volumes and totals for Dubai / UAE.....constantly trumpeting new heights in sales transactions.
Now....not only do hear stories such as 'emmar sold nothing in october' but I also notice that I don't get the mailings I used to. They've all but dried up.
Will be interesting times the next 12 months.
These mailings not only contained listings....but also news and data...such as sales volumes and totals for Dubai / UAE.....constantly trumpeting new heights in sales transactions.
Now....not only do hear stories such as 'emmar sold nothing in october' but I also notice that I don't get the mailings I used to. They've all but dried up.
Will be interesting times the next 12 months.
Nov 2nd 2008, 6:54 pm
#5
Lost in BE Cyberspace
Joined: Dec 2006
Posts: 23,434
Re: The price of property is about to .............
The Properties and Freehold section in Gulf News always weighed a minimum of 5 pounds...
Nov 3rd 2008, 3:20 am
#6
Concierge
Joined: Feb 2007
Posts: 29,625
Re: The price of property is about to .............
As a prospective buyer at the start of the year I registered with many websites and estate agents. Subsequently I received lots of mailings on an almost daily basis.
These mailings not only contained listings....but also news and data...such as sales volumes and totals for Dubai / UAE.....constantly trumpeting new heights in sales transactions.
Now....not only do hear stories such as 'emmar sold nothing in october' but I also notice that I don't get the mailings I used to. They've all but dried up.
Will be interesting times the next 12 months.
These mailings not only contained listings....but also news and data...such as sales volumes and totals for Dubai / UAE.....constantly trumpeting new heights in sales transactions.
Now....not only do hear stories such as 'emmar sold nothing in october' but I also notice that I don't get the mailings I used to. They've all but dried up.
Will be interesting times the next 12 months.
Nov 7th 2008, 8:54 am
#7
BE Enthusiast
Joined: Oct 2008
Location: Moved to Mirdif
Posts: 319
Re: The price of property is about to .............
