Tuesday, January 13, 2009

Sinking in the sand?

Dubai Property Prices Slip

Dubai Property prices have been driven sky high by speculation for years. The problem is, when nobody wants to speculate anymore and end-users can't afford the prices or a 30% minimum deposit, it is hard to make a sale.

Posted by brickormortis @ 12:23 PM (745 views)
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2 thoughts on “Sinking in the sand?

  • Brickormortis says:

    “Still, for buyers with access to cash and credit, the lower prices mean bargains abound. “There is a great selection of available property at a price that a buyer would never have expected,””

    …Is this not just a ridiculous thing to say!? How can being just the other side of the peak of possibly the biggest housing boom in history present an abundence of “bargains”. To me, a bargain is not a 10% mitigation of a 6 year boom culminating in somethign in the region of a 50% price rise in 2008 alone. Am I going mad?

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  • A friend of mine has just come back from 2 weeks business/holiday trip in Dubai and reckons the place is at a standstill – EA with 60 employees he knows has paid everyone off and shut up shop – the car dealers have a huge amount of people on the forecourts (all looking to hand the cars back) – one word to sum it all up “MELTDOWN”

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