Dubai house prices seen falling another 33%

Posted by: James Wednesday, 23 September 2009 8:41 AM[UAE] - UAE

I have been here a few years and, from a selfish point of view, have never had it so good. My business stayed profitable, cost of living here has dropped through the floor and I am enjoying this period in Dubai's history hugely. Of course I do sympathise with thos that fell foul of the the downturn, but thats life really.

Posted by: Sandy Monday, 21 September 2009 2:55 PM[UAE] - UAE

Happy Dubai Expat, you've hit the nail right on the head. Agree with you wholeheartedly....

Posted by: Happy Dubai Expat Saturday, 19 September 2009 8:31 PM[UAE]

As an expatriate business owner, my business, like all businesses in Dubai, has seen a drop in revenue and profits. Yet what I can say is that this has caused many unprofessional cowboy yeah yeah companies to collapse and property prices that were at completely absolutely stupid prices to collapse. This has forced EVERYONE in Dubai to be realistic, cleared out alot of rubbish, and has mae Dubai a far far better place to live. Service is better, people are beginning to understand customer service, and its absolutely glorious to be able to view a property and have the agent call you back rather than have he/she tell you, "take it now or someone else will and tommorrow the price will be 10% more" Anyone who thinks that what we previously experienced is "normal" frankly is a complete fool. As long as the quality of living in Dubai continues to increase (which it is now) Im staying right here!

Posted by: N SOLENT Saturday, 19 September 2009 11:29 AM[UAE] - UAE

The reality is that everyone has an opinion but no one actually knows what will happen. So why oh why do people get so wound up and vitriolic in their comments. Get a life!!!

Posted by: Karim Fastak Saturday, 19 September 2009 10:51 AM[UAE]

Sorry for all of you doubter, but UBS was the first to predict the real estate the crash in Dubai. I still have that report by tthe courageous Masud, where he predicted the crash more than a year ago, while Morgan Stanley was shyly saying: in 2009 there will be a 10-15% correction, and then as a fine print, they wrote that there might be a big crash like Singapore at the end of the 90s! Well guess what happened, a big crash! Most supposedly real estate experts at the time where publishing reports misguiding everyone...or were scared to call things as they really saw it...I still wonder if they were all genuinely wrong or manipulating the market... We should actually pray UBS for taking a huge risk for openly and clearly showing their outlook even if it is negative! because only when things are clear and transparent that we will all gain confidence again to buy, and our market will get rid of those greedy investors that abused our beloved country!