Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE
Property chiefs set out vision for the future
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 13 January 2009
Page 1
Results 1 to 11 of 11
Posted on Wednesday, 14 January 2009
when the well is dry move on
Posted by paul at 15:13 UAE time
You can complain all you want but, Why o Why? do people in Dubai think this country owes them a living. We are Expats and like the desert nomads wonder the world looking for the best watering holes, once they have dried up we move on to the next.
In my humble opinion, Dubai has always looked to be the Monte Carlo of the Middle East and ultimately is looking to attract only the supper rich and high rollers who can afford to live here, the rest of the populous can be used and degraded as necessary.
So don’t kid you self about Dubai, dry your tears and try to make some money for that rainy day, enjoy the sun shine and move on when your well has dried up.
pap
CLICK HERE TO POST A COMMENT
Fraud and Greed
Posted by Dubai Real Estate at 15:12 UAE time
This is something that is seen also in US & India recently. India's #4 exporter of software services Saytam Computer Services Chief has admitted to fraud of over a $150 million and is currently in jail.
CLICK HERE TO POST A COMMENT
Affordable
Posted by Ram at 11:37 UAE time
Reading all the comments, it is clear that word 'Affordable' is the 'Mantra' Dubai has to adopt. I am here in Dubai for 22 years. Back then in the 80s and 90s the best place to live for the working population was Karama, because of the affordable homes and affordable shops. The majority of Dubai residents used to go there for their daily needs or daily eats. What Dubai forgot are these roots that made Dubai what it was - a place for the hardworking and where their contribution was appreciated by those who mattered. Now this population is pushed to far off places like Ajman, beyond, and out of the country.
If Dubai wants to develop as balanced society, you have to build a 'Karama' near Marina development, Jabel Ali, jabel Ali Airport, etc. People who live there will re-make Dubai to it's old glory. The quicker they realise this, it is better for this truely great place on earth.
CLICK HERE TO POST A COMMENT
advertisement
Words from the insider
Posted by Jeff at 11:32 UAE time
The big projects and luxury housing was built for some who had some who had a real vission missing. The middle class and residents of the UAE and some from the GCC would be the end users and not customers from NZ or UK, they go to Spain and the Bahamas!!
A lot of unprofessionals entered the market and some are being kicked out, all they did was develop unrealistic projects and never challenged them by the owners.
The laws til today have not been fully developed to cover every aspect of the real estate purchase until possible disputes, banks also contributed by taking advantages of the rates, nowadays a house loan should not exceed 4 to 5 %. Finally what is the longterm plan for an expat to buy freehold and get semi-permnant residency but there obstacles such as job secuirty, inflation, and nationalization of the work force.
Once the real estate market isn unified across the board and in all cities then we can have a clear option to buy or keep renting and walk away
CLICK HERE TO POST A COMMENT
Time will tell
Posted by Swidub at 11:12 UAE time
I am living in a 3bdr Villa in the Lakes and am paying close to 300k. These villas are now worth over 300k. I fail to see how the rents will decrease especially with villas. They may be decreasing in areas like intl city etc. where it is not that convenient to live with a family of 4. The greedy owners will continue to be greedy as long as the demand outstrips the supply. In addition, people can't buy now so they are going to rent. Let's face it, it is becoming increasingly difficult to live well in Dubai now so some of us will have serious decisions to make. Look forward to another shitty year of paying exorbitant prices in Dubai yay !
CLICK HERE TO POST A COMMENT
Laughable
Posted by MasD at 09:31 UAE time
The same people who claimed dubai wont see correction, let me re-state, CORRECTION till mid-2010 are saying the market will be back by 2011. I think its about time, people didn't trust these people and analysts. Because as we have the market CRASHED IN NOV 08'... Laughable.
CLICK HERE TO POST A COMMENT
Hardly dramatic!!!
Posted by SR at 07:54 UAE time
Well, drop of 8% is hardly dramatic!
Time they realize it would be a lot better to be more transparent than eye washing with unrealistic reports!!
CLICK HERE TO POST A COMMENT
Posted on Tuesday, 13 January 2009
Low Maintainance & Low MORTGAGE Rates
Posted by RRK at 19:12 UAE time
I think the developers of high end appartments and developments should lower thier maintainance charges as these charges are exorbident, when compared to Sharjah and Ajman. This will benefit the investors who inturn will reduce the rents of their appartments, which inturn will decrease the inflation in the country.
Another problem faced by the investors is VERY VERY HIGH MORTGAGE RATES. when compared to the other parts of the world, the mortgage intrest rates in dubai are quiet high when compared to the rest of the world. I think if the intrest rates are brought down, this will lead to less EMI's for the investor, which inturn will lead to fall in rents.
So in my opinion. LOW MAINTAINANCE & LOW MORTGAGE RATES are key factors for affordable housing.
CLICK HERE TO POST A COMMENT
At Last!
Posted by Rainigade at 16:44 UAE time
At last someone has seen the light. The readers of Arabian Business have been clamouring for affordable housing for months now! Finally, people in positions of power have seen the writing on the wall. The blindfold of greed has been stripped away, I'm guessing.
Now I hope that these big-wigs, in collaboration with RERA (whom they extol as doing such a great job), will lower the rents of already existing properties in order to bring more affordable housing on the market quickly.
Lets be honest - its not like the units of International City or Discovery Gardens are of the highest grade or quality and therefore costly to build.
Lets get back to the basics, indeed! Let the people who manage to hang on to their jobs, be able to AFFORD to stay in Dubai.
And - do I dare say it - actually be able to save some money in the process? Just remember - if a person feels like they are in a comfortable position, they will spend more and inject more cash into the system.
Fingers crossed that all this will come to pass!
CLICK HERE TO POST A COMMENT
affordable housing
Posted by ossama at 16:31 UAE time
that is waht we say long time back, please build cheap and reasonable and affordable housing to meet the requirements of middle class , but unortunately, all construction was built on fantasy and Extravagance, so all of us has to pay the price of that fantasy.....please do not expect that the real estate market will come back booming unless you are living in another planet
CLICK HERE TO POST A COMMENT
One Word
Posted by Skeptical at 15:17 UAE time
I have one word for you....MORTGAGES!
(enough said)
CLICK HERE TO POST A COMMENT
Page 1
Mobile
