zabone

Yes i agree to an extent - i see the prices of established accomdation in prime areas of central london and current off plan prices in abu dhabi and i am very sceptical if sustained levels of growth can continue - even in Abu Dhabi. perhaps i need to put this comparision to one side....

I have cash ready but cannot with conviction justify to enter the market at present. On the other hand I have seen those brave enough to enter the market and do extremely well - all in the space of weeks - not even in months !!! prices in abu dhabi seem to be rising by the hour !!

i guess it really is a case for fortune to the brave !!

The Dean

Hang on to the cash - and put it all on Leicester City to come straight back up from League One next year - much better return than UAE property - and more certain...!

zabone

lol...i wish i could share your enthusiam but after seeing the dire performances over the last few years - and months in particular - need to see what happens this summer first...at least holloway got sacked which is start in the right direction....

The Dean

Always had a soft spot for Holloway after I heard him say "Things are not going to change around here unless something different happens. If it doesn't, things will stay the same."

Can't argue with that logic.........

The Dean

.... and don't worry about League One - I've seen the standard this year. You'll be fine - unlike my lot.........

zabone

Forest ? Leeds ?

The Dean

What? You are asking if 'my lot' is Forest or Leeds? Oh I can only dream of the season either of them had........

Try looking at the other end......... and I understand we are starting NEXT season with ANOTHER deduction again.......

IndieG

Look at what happened to the brave in Florida. Prices were 'rising by the hour' there too. By the way prices may go up in a matter of hours/weeks/months but none of the investors actually sell and realise a profit within hours/weeks and very very few actually realise a profit within months.


Think again then - these professionals are taking personal loans to fund even down payments. Most of them are working in Dubai, buying within 6-9 months of arriving and are mortgaged to the eyeballs....


Provided the economy continues to do well for the next 20 years and the buyers continue earning fat salaries until they pay off the loans...


Dubai has no oil and I can bet my bottom dirham that Abu Dhabi (or anyone with oil money) ain't going to prop up the Dubai property market. The only way to stop a collapse is to put in various controls (e.g. prevent local media from publishing any news perceived to be negative for Dubai, stop transfers.....).

I am hanging on to my cash too.

pauldxb

I hope your right

MacScot

To the Dean:


Your signature is a defensive reverse take of the one that appeared in an actual statistical book that posed the question "When a Scotsman moves from Scotland to England, he improves the average IQ in both places. Explain?

This happens because average IQ in Scotland is higher than in England, and the said Scotsman's IQ is between those two averages. So Scotland loses a below-average man, and England gains an above average one.

However, one often hears the opposite story when in an English pub or an Englishman's signature on a BE forum !!

By the way, you refer to the Englishman as an object ('it') rather than a person ('he') - what a putdown ?

All in jest.

The Dean

Aaaahhhh - actually I heard it as part of an England-Australia banter......

The idea presumably is that you'd have to be pretty stupid to want to emigrate to such a place, hence your "...loses a below-average one...".

All sorted - no offence taken.

Mind you - I assume that's a joke - the statement that Scotland's IQ is on average higher than England's?? That's the sort of thing you'd hear in the Borat movie.....

Robbies

It would appear that you are not much of a fan of the property market in Dubai then IndieG?

This is interesting news to hear considering I work for an oil company in Dubai. I had best let those in charge know

I do however agree that oil is not major in the Dubai economy (only 3 or 4% of GDP IIRC). That means there is a lot of other industries that can 'prop' up the market...

MacScot

Yes, I made it up to tease you. As I said, all in jest !!

admon

Lets be fair.. The major 'industry' at the moment helping to 'prop' up the market at the moment is the construction industry itself.
Once the market slides, how many people in Dubai will leave, as there is no longer a job for them?
And this won't be confined to those just in construction/real estate, but every industry that serves thoses industries AND a huge amount of people in jobs totally unrelated, as a population drop wouldn't be able to sustain the amount of employees in most businesses.

People depend on other people for their jobs. As many have previously stated, it is the perfect example of a 'house of cards'.

lionheart

So where exactly in Dubai are they drilling for oil as many of us here were under the impression that only Abu Dhabi and other Emirates were producing oil these days?