25% of Dubai homes lying empty - Colliers

Posted by: DUBAIITE SINCE 17 YEARS Saturday, 24 October 2009 2:16 PM[UAE]

MRS KHAN, DO UNDERSTAND YOUR PLIGHT. GET REAL IN THE REAL ESTATE IS THE FIRST RULE. NEVER SHY FROM FACTS/TRUTH. BE RESPONSIBLE.

Posted by: Simon Monday, 19 October 2009 4:09 PM[UAE] - Dubai

Mrs Khan, please...you can't just have it your own way...what you are asking for from this site is for it to not report anything negative so new investors can be fraudulently sold a story to come back into the Dubai property market to save the old investors from ruin!! Your comments just show what is wrong with Dubai. I'm not saying the article is 100% accurate but there are multitudes of properties left vacant by local and international investors alike. Thats not difficult to phathom. Unfortunately, you are at the bottom of a greed engineered Ponzi scheme equally known as a Pyramid sell. Prices were ramped up, sold on, ramped up, sold on, ramped up past real value, sold on, greed kicked in, prices were ramped again and again and sold on...then when there were few buyers around to soak up the property in the market...the pyramid and ponzi scheme collapsed...or another way of saying it...the bubble finally burst. Now the real truth is out there...its hard to attract buyers back in any volume that will sustain on going growth in prices. There will be little runs up in prices but they will be followed by further declines. Look at the banking reports on liquidity in the UAE...The banks declare they have a liquidity issue of AED40bln...and yet the very next day a Minister of the UAE says the recession is over!! look whats happening commercially with the banks. To get a mortgage now, they want you to be earning AED20k/month to qualify..the worst is yet to come in my view...but don't take my word for it...check out Gerald Celente, Peter Schiff...just a get a basic understanding of whats happening in the USA and you'll find distinct parallells to the UAE...Not everything they talk about applies here but a lot does! Not only did these two economists predict the credit crisis but they explained years before it happened...why it would happen. Real words of wisdom not guess work. Unfortunately, the investors who did not get out fast enough are left holding the Dubai baby...which unfortunately includes you.

Posted by: Golden Dragon Monday, 19 October 2009 3:19 PM[UAE] - UAE

It is very unfortunate that your money is stuck in real estate market. But havent you ever though that if somebody had told you before investing in dubai market that it is going to be a disaster......Thats exactly this article is trying to explain to the new investors......So no point in grumbling about the truth......It is a fact that 25% of residential properties are vacant and you dont need XXL size brains to identify that....Just walk around Barsha, JLT, Int City, D.Gardens..Marina..Mirdiff etc etc..Let me remind you that Dubai doesnt only include Deira and Burdubai..... And let me conclude by telling you that its ur greed which prompted you to invest in real estate..Had you been a long term investor who wants to live and settle in UAE , you would never wait for the market to pick up so that you can sell of you property and leave the country for good....End of the day whether it is profit or loss...its you who has to take it......No point in showing your frustration on the media... And for your kind information...Our GCC finance has already declared that the recession is over....so may i suggest you to take his golden advice and invest what ever left over with you in Dubai Real Estate market...... Happy Investing !!!! (?????)

Posted by: MRS. KHAN Monday, 19 October 2009 12:04 PM[UAE] - uae

When newspapers and media reports like what is shown above appears in the papers brings panic in the market!!! Why do papers and your website need to print such articles - JP Grobbelaar, director of research has no clue of whats going on in the market and we feel he should keep his research to himself by bringing out such comments you people are breaking the backbone of the investors who are waiting for recovery and can already see the signs of recovery - BUT one such negative reporting and comment brings everything down again and again and again PLS REFRAIN FROM PUBLISHING SUCH ARTICLES AND REPORTS WHO HAVE THEY INTERVIEWED?? ITS ALL NONSENSE WE INVESTORS HAVE BLOCKED MILLIONS IN THE DUBAI REALTY MARKET AND NEED DUBAI MARKET TO BE SHOWN IN A POSITIVE LIGHT YES FEW UNITS MAYBE VACANT BUT WHAT THE HECK THE BUYERS WHO ARE THERE WILL ALSO RUN AWAY IF SUCH ARTICLES APPEAR MOST INVESTORS ARE WAITING AND SELLING AT THEIR ASKING PRICES. PLS STOP SUCH REPORTING!!!!!!!!!

Posted by: SR Thursday, 15 October 2009 3:40 PM[UAE]

First, I am not bitter; if you felt so; please excuse! I don't think you are good at guessing because, I have not invested here and have no interest as well! I was simply responding to your hilarious attitude; i.e. branding Colliers report as not based on facts and then coming out with your own theory which was also not based on facts!!!!!!! What you say may be right or wrong, may be Colliers is right; but if you read carefully my point was that nothing is based on facts and nobody knows where market is heading!!! Cheers and have a nice weekend!!!