Dubai house prices to slide up to 15% by year-end

Posted by: Johnny Wednesday, 31 August 2011 1:40 PM[UAE] - China

Once the UAE give the expats Green Card, the market will def go up.

Posted by: Paul King Sunday, 21 August 2011 3:05 PM[UAE] - UAE

Now that Omar has spoken on the subject, our fears and doubts are greatly reduced. Our anxieties relieved and our nerves are settled... You gotta hand it to him though....he consistently provides 100% nonsense!
I'll stay right here thank you very much...just trying to assist folk to avoid the "trap doors" that many have fallen through.

Posted by: Omar Sunday, 21 August 2011 9:50 AM[UAE] - Dubai

My wife just delivered last week and while taking her to hospital in Bur Dubai at 4:40 AM on a week-day in the middle of Aug. +50c in mid Ramadan, cars were almost bumper to bumper. I bought in Lakes 4 months ago and i am receiving calls and texts late at night offering 10% more!!!Dubai airport is all set to become the world's busiest airport and for those who say that they are transit, even transit passgs spend money to see Burj Khalifa or the Palm or x,y,z of Dubai. In AB, we see an interesting article on Chinese investors coming to Dubai!(beyond the US-European crisis) and the oil is still in triple digits!So Dubai is here to stay!!Whoever doesn't like Dubai can leave so we enjoy the Dubai dazzling assets in a more peace of mind!! +Dubai Oympics 2024 is a 99% reality with 2nd to none infrastructure. Go around Sports city and see work going on 24/7!!!so real estate prices will get triple 2008!!All flights from and to Dubai are full!!

Posted by: P.A.S.S. Monday, 22 August 2011 5:03 PM[UAE] - UAE

I recently came off a return flight from Birmingham. If more than 10 people walked with my family to arrivals, I would be surprised. All others went on to the transfer desk. Go Emirates - they are great, but people are not staying in Dubai, even overnight.

Posted by: John D Monday, 22 August 2011 1:15 AM[UAE] - UAE

Sorry to burst your bubble but oil prices haven't been in the triple digits for a few months now. With another recession looming and a slow down in China, they are likely to fall even more.
But, if your house has increased in value and people are lining up ready to buy it and everything is rosy for you, more power to you!!
We are leaving so you can enjoy the 'dazzling assets' with complete peace of mind.

Posted by: sonnydubai Sunday, 21 August 2011 5:36 PM[UAE] - uae

I presume you work in real estate? This is the most entertaining post I have read for a long time. You should try your hand at writing fictional novels.........

Posted by: Mark Sunday, 21 August 2011 5:14 PM[UAE] - US

You are getting late night texts offering to buy your house? How are they finding you?? And are your hundreds of neighbors with identical houses getting late night texts also? Or just you? Interesting. Dubai flights are full because it's a hub. Nothing more, nothing less. That doesn't equate to investment, even if someone does get out of the airport to look at the Burj Khalifa. Sorry but no bearing on the real estate market at all. And to think that Dubai has an infrastructure second to none? Certainly that would that mean efficient means of transportation and adequate roadways - correct? So how is it that the roads were bumper to bumper in Bur Dubai at 4AM???

Posted by: Jack J Saturday, 20 August 2011 11:19 AM[UAE] - UAE

Anyone who claims that this is the start of another Dubai real estate bull run obviously doesn't look at what's happening outside of the UAE's borders. The global economy is still in a complete mess!
If you're rich enough that you can afford to take a high risk with your money that's fine; however if you're relying on a mortgage or your life savings to make a real estate investment in the current economic environment you're taking a huge risk!
Very little has been done to fix the problems created in the run up to the 2008 crash; central banks have propped up the stock markets with their money printing and in doing so have created global inflation which is not going to disappear anytime soon. Many banks continue to hide their bad debts and toxic assets.
Unfortunately no one country is immune from a global crisis, as we found out in 2008, don't expect it to be any different this time round.

Posted by: Paul Reid Friday, 19 August 2011 6:33 PM[UAE] - Dubai

Start of a bull run 100%.

The market is a few months out of date as always and when you see real data of what has occurred over the next six months, you will be too late.

I am what you would call a pessimist but if you are specifically talking about finished property in communities like PJ, Marina etc- you could not be buying at a more opportune time (tho maybe 2-3 months ago may have been closer to the turning point).

If you are unaware of what lies around the corner best you keep schtum and watch.

Momentum will drag for a while as measures kick in, but you we have already witnessed the change in the curve. No doubt.

Posted by: Jake Saturday, 20 August 2011 11:17 AM[UAE] - UAE

looking at the figures posted by the land department, I can't agree to what is being claimed. Not only are the majority of purchases in areas that are only available to Locals and GCC Nationals, but there is no real incentive to invest here.

From a legal aspect, nothing has changed. Service charges are bound to increase further, rents may stabilize at the moment but there is still quite a lot of supply in the pipeline.

Anyway, the way I see it, the world is up for some more turmoil in the next 18 month, as none of the actual issues have been resolved since 2008. Contrary, things only got worse.