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House Price Crash Forum

Desert Knight

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About Desert Knight

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    HPC Poster

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  • Location
    Dubai, UAE
  1. I doubt they'll go bust, Abu Dhabi will more than likely bail them out - but who knows what they will want in return......
  2. Okay, just for Gerald If you bought a Dubai property at the peak of the market, which was probably around September '08, you will have lost about 50% of your investment. Things have stabalized somewhat and some property is selling, but this is mainly to cash buyers. Bank valuations mean it is difficult to get finance to buy and I think this may be a 'pause' while the better value property sells before we take another leg down in prices. The city is still very busy and the much forecast exodus of people by 'experts' living outside the UAE hasn't materialised.
  3. Or how about this one? Independent UK Oh wait, that happened in the UK......Maybe it can happen anywhere? Shhhhhhhhh!
  4. ABC News Exclusive: Torture Tape Are you sure?
  5. Dubai Police Cheif disagrees Gulf News While I wouldn't deny this does happen, I have to say, the figure of 3,000 does sound like the one of the typical rumours in Dubai rather than investigated fact! I would suspect the figure falls closer to the "11" than the "3,000".
  6. I enjoy both and Dubai hasn't slowed down my enjoyment of either!
  7. It ain't as good as it once was, but "a total hell hole"? Not nearly close. Been here way too long, but still have great friends here and a social life with them that beats the pants off the UK experience. My kids got a 1st class education that was way ahead of what they were getting from the local school they attended in the UK before we left.
  8. Clearly you see little then. Dubai is in a superb geographic location - The local Airline (Emirates) can take people from almost anywhere in the world to anywhere else in the world with just one stop - in Dubai. This makes it a great hub and good place for Global companies to have headquarters. There are several million very wealthy people living within a few hours flight who live in very boring or volatile or restrictive countries. Dubai is a great place for them to escape to. You should also know, if you researched such things, that oil/ energy makes up a very small part of Dubai's GDP.
  9. I'm not trying to suggest that property isn't crashing in Dubai, cos it is, but let's put this into perspective for a UK investor. Villa bought at the peak in August 2008 for 6 million Dirhams (685,000 GBP) The Villa drops by about 30% Sell Villa today for 4 million Dirhams (784,000 GBP) .............ooops did they make a small profit?
  10. Good news for those of us in the Middle East! Once we come out the other side of this recession, oil demand back up, oil proces back up, Middle East ecomomies back up
  11. Gee, With the amount of research she put into this report she might (one day) be able to get a job at the Daily Mail or Express!
  12. What is wrong with people on here? FFS just get on with your lives, you can't legislate against every possible eventuality! Life is too short for all this hand wringing "what if interest rates go up to 30%, what if you lose your job, what if there's a war and your killed, what if your wife get's pregnant........". Make your own decision to rent or buy, take sensible precautions against things within your contril and enjoy life.
  13. Quite agree. Council Tax was a sh!te idea, poll tax was much more sensible.
  14. I disagree, up until the end of the summer it was pretty straight forward. I live here in Dubai and am well aware of what the market has been doing (even flipped a property myself ) so don't try telling me it was difficult coz it wasn't!
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