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dougless

Free Tessla with a new flat in Dubai*

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You know those adverts on the right of the screen that we try to ignore?  Well I just saw one but I had moved on before it fully registered; it was offering a free Tessla when you buy a new flat.  Now the last time I saw that kind of 'marketing' was a few years into our Great Depression, probably 2009-10.

*I have amended the title because the advert came up again and its Dubai not Londinium - shame but its good to see desperate sellers wherever they are.

Edited by dougless

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8 hours ago, dougless said:

You know those adverts on the right of the screen that we try to ignore?  Well I just saw one but I had moved on before it fully registered; it was offering a free Tessla when you buy a new flat.  Now the last time I saw that kind of 'marketing' was a few years into our Great Depression, probably 2009-10.

*I have amended the title because the advert came up again and its Dubai not Londinium - shame but its good to see desperate sellers wherever they are.

Is there a link?

Pretty sure I saw one which was related to buying property in Hong Kong.

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There are unfortunately plenty of places in the Middle East where the laws of Real Estate supply and demand seem not to operate. 

If you head to the Amwaj islands, on the far eastern side of Manama, Bahrain, for example, you can find entire streets of empty new build apartments, 2 bedroom, 3 bedroom 4 bedroom. Their advertised prices are astonishingly expensive for such a poor country, with offer prices ranging from 180 K GBP to 400 K GBP. 

But what astonishes me even more is the sheer immovability of their offer pricing. Year after year, empty properties, but the prices....do.....not....budge. The same empty 4 bedroom apartment on sale for 375 K GBP in 2013 is still on offer for 400 K GBP in 2018. This in a neighbourhood so empty that spotting a lone pedestrian 200 metres away is cause for wide-eyed surprise. 

The only obvious explanation that springs to mind is that the real estate owners are simply money laundering.

If there's no pressure to sell, why sell ?

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30 minutes ago, Society of fools said:

There are unfortunately plenty of places in the Middle East where the laws of Real Estate supply and demand seem not to operate. 

If you head to the Amwaj islands, on the far eastern side of Manama, Bahrain, for example, you can find entire streets of empty new build apartments, 2 bedroom, 3 bedroom 4 bedroom. Their advertised prices are astonishingly expensive for such a poor country, with offer prices ranging from 180 K GBP to 400 K GBP. 

But what astonishes me even more is the sheer immovability of their offer pricing. Year after year, empty properties, but the prices....do.....not....budge. The same empty 4 bedroom apartment on sale for 375 K GBP in 2013 is still on offer for 400 K GBP in 2018. This in a neighbourhood so empty that spotting a lone pedestrian 200 metres away is cause for wide-eyed surprise. 

The only obvious explanation that springs to mind is that the real estate owners are simply money laundering.

If there's no pressure to sell, why sell ?

Had the pleasure of staying in hotel in Amwaj Islands and it has lot of empty lands and empty apartments. The issue is builders there have tons of money (limited or no debt) and they can just hold and hold until they can sell at their asking prices.

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4 hours ago, warrior88 said:

Had the pleasure of staying in hotel in Amwaj Islands and it has lot of empty lands and empty apartments. The issue is builders there have tons of money (limited or no debt) and they can just hold and hold until they can sell at their asking prices.

But surely even at very low interest rates you have to sell sooner or later to get the money in the bank?

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  • 407 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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