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Dubai rents fell 23%, sharp fall in sales in Q1 - report
by This email address is being protected from spam bots, you need Javascript enabled to view it on Thursday, 7 May 2009
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Results 1 to 7 of 7
Posted on Thursday, 7 May 2009
Dubai Rents Fall by 23% - A Hog Wash
Posted by Deeyem at 17:57 UAE time
Dubai is not only Discovery Garden and International City
The Rents in majority of the centre - Bur Dubai, Karama, Satwa & Deira are increasinbg...YES Increasing even in todays time...
On One Hand RERA says we want the rents to remain same this year, if not reduce and then they post a Virtual Rental Index created from warped thinking which is making the landlords greedy and they are pushing up the renatlas of even OLD BLdgs. in Bur Dubai, karama, Satwa and Deira by 10 to 20% higher...
They dont care wether Expats bleed or work with half salary...they want their pound of flesh...GOD BLESS THEM
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Great News or Bad News - to SS
Posted by John Thomas at 16:45 UAE time
So basically you are saying that everyone was better off when it was daylight robbery and people were spending 75-80% of their salary in rent and taking out loans to cover it? - You should re-think that, it was abominable to say the least what these lanlords were charging people for rent in Dubai - where did they think they were? midtown Manhattan??? It is sad that so many people lost their jobs, but this rent and housing rip off lunacy had to end - no pitty on that here!! By the way, do you work for a real estate company?
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Great news or Bad News
Posted by ss at 14:30 UAE time
Well, the above is certainly a great news for all the expat residents, temporarily. At the same time, this would have an impact on all of us. Already, we are seeing Job losses around us and believe me we are all affected.
Hence, instead of celebrating the above, we should look into how we can rebuild the economy. Because its people, who make or destroy the cities not the governments.
Give it a thought, its all circles. All these sharp falls in rent, commodity prices would have a catastrophic impact on us and eventually on the country.
Well, correction is called for, but certainly not at the cost of job losses or plummetting business.
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Bottom Out
Posted by Sunita Bhatia at 14:18 UAE time
It makes me wonder when is the bottom out on prices going to happen - it is going to be a bottom out or a complete flat out. What is the price going to be for a bottom out or flat out property - less than the original price???? Have we all got fooled..and still want to be the fools??
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local bank made the probelm worse
Posted by kamal mohamed at 13:47 UAE time
The Global Crises took place early Aug however it hit Dubai end of 2008 and Q1 2009.
One of the main reasons for making the problem worse is that local banks squeezed the credit which in turn forced many buyers to default.
this has shaken the confidence in the market ......leading to a shaken real estate market at present.
The US supported the market ( local companies) by injecting stimlus funds to revive the cycle contrary to what happened in Dubai.
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I own a property
Posted by patrick at 12:07 UAE time
I own a property in Emaar Square, I have reduced my price 35% to rent it out and I still have no one interested in it. Prices are falling like crazy, I am thinking of selling it however no one is buying. I am in a dilemma...
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Great News
Posted by Zia at 11:36 UAE time
This is breaking news folks but the bottom is yet to come. I am in real estate and so you guys will se another drop of 30% by end of June - July 09 and that will be the right time for purchasing property.
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