Dubai property prices set to rise in Q4 - Sherwoods

Again

Posted by The Don at 00:32 UAE time

Here we go again, another non sense predictions comes from some one call himself expert and on top of all of that our dear friend Omer comments.

Let try this one: assume you are accurate in your prediction and in Q4 prices will start to rise. I have two questions:

1) From which level these prices will rise, at what %, and for how long it will keep rising before the predicted so called stabilization year?
2) From where investors / buyers will pay for these assets (assuming price rise is a reaction to higher demand than supply) when you have 4 banks downgraded and still the extent of toxic assets needs to be quantified?

Dubai Property Prices set to rise in Q4

Posted by H L Nagpal at 13:33 UAE time

Is there anyone who can tell us investors who are in Europe or USA or other far off places as to what is the reality. On the one hand we have Omar/Rehman painting a bright picture. Have they got a vested interest in hiding the truth and spreading false information for the purpose of making a profit. Or is there forecast based on informed research in which case they should be treated with respect. How about these prophets of doom and gloom who seem to be bent on destroying everything. I wonder if these are the same speculators who have made millions and are now creating panick-like situation to make people like us sell dirt cheap so that they can pick up bargains and become multi-millionaires. Please please give us an independent, unbiased and informed view.
H L Nagpal
Greater London

Omar vs. Oprah

Posted by Research at 11:32 UAE time

Obviously Omar had the wisdom and foresight to read The Secret--no doubt from Oprah's book club.

Just think positively about prices, and prices will go up. The mind is a powerful instrument for altering reality.

Like this one time, I decided to be rich, so I went to the bank and asked for AED 50,000,000 to buy a studio in the Burj. They gave it to me, no questions asked!

Now I even get to post on the internet from my jail cell. Dubai is the best!

Omar.. Jai Ho!

Posted by MM at 09:59 UAE time

Omar maybe right. Agents are buying latest cars and gadgets. They live in Palm Jumeirah. They are ready to take this market up and more expensive – as a result unattractive. Great news around. Omar thanks for bringing this up. You and your beloved agents can live happily here... now.

Oh between, ask your rich money making agents if they need any assistants. We wont ask too much, just accomodation in Dubai Marina, SUV and school education and oh yea entertainment expenses.. oh and wait, yearly holiday allowance, oh and one more if possible bathroom allowance.

Thanks Omar. We all love you (your comments, not you).

This is a business opportunity!!

Posted by WHATAN at 09:55 UAE time

If someone has the time to collect all the junk articles and comments and put them in a book-- I will certainly pay for that entertainment!!

Prices going up in Q4 !

Posted by Sammy at 08:20 UAE time

Speaking of the Titanic,, this article and Omar reminded me of the ship when it first started sinking. There where people in life vests, but still hanging around in the ball room, fully suited, having drinks, socializing... Basically in denial and oblivious to whats going on around them. Goodluck, and take your time on board.

Jokers.

Posted by Paul King at 19:34 UAE time

I'm sure Sherwoods would say the Titanic is relatively buoyant if they were sitting on stacks of tickets for atlantic crossings! If, and only if the market is stablising, it's more likely because there are zero buyers. A big fat 0! Talk to any employee of the major real estate agents and they will tell you there are no buyers. No one! This positive collapse will continue for sure, so sit tight and wait for the next phase of reductions.

omar

Posted by paul at 12:53 UAE time

Great stuff Omar.

Any vacant villas over there in the twighlight zone? (somehow I suspect they will all be full, with a waiting list of successful real estate agents queuing up to move in)

Omar lives! Get thee to Neverland!

Posted by Geriant at 11:50 UAE time

So good to see Omar is still around. I would have thought he had gone to Neverland by now to hold a vigil for that other great financial and social commentator, the one who liked monkeys, can't remember the name.

Posted by John Thomas at 11:37 UAE time

Ah Omar, Omar, Omar, I personally know at least 20 agents that have made didly squat (zilch, zero, nada AED0000000) in the last 5 months, are you talking about the same Dubai we live in??
Where do you find these people that no one else seeor know about?? - I personally know 7 of them that are defaulting on car loans, bank loans, mortgages etc... Omar - Real Estate in Dubai is defunct, and it will take a few good years before it shows any heart beat...

All these guys are making millions

Posted by Omar at 10:27 UAE time

Either we like it or not plenty of real estate agents are making millions to date. They are around. Can not you see them? Can not you see their ads, offices, cars, etc...??
MM, Yes, it's dust, +50, and .... but nobody actually leaves Dubai including yourself?!Did you ask yourself why??! you should ask yourself before anyone else. You are the best to answer this question. We should be honest with ourselves first before we give any opinion.

But no one believes them

Posted by paul at 10:14 UAE time

"during H1 this year Dubai's property sector was able to remain relatively buoyant, due to the significant reduction in the number of speculators operating in the market."

Relatively buoyant? 50%+ crash in prices and a total slump in activity is 'relatively buoyant'?

You can argue about the future direction, but if the people trying to convince us it will rise are busy peddling demonstrably false commentary of the past 6 months (i.e. 'relatively buoyant') then you have to take their predictions in context. The context being that they are either unashamed liars or completely bonkers. Or both.

Yes dear

Posted by Geriant at 06:57 UAE time

Do these guys all need therapy, or is it just this one. Try to deal with reality, stop living in Neverland and remember, Harry Potter is a storybook character who never bought on The Palm.

Nice strategy

Posted by MM at 00:26 UAE time

Can Arabian Business stop publishing these nonsense by unqualified agents. Sherwoods has a lot of inventory to clear off so ofcourse they would report such in their interest.

The reality is, the prices must fall and come to an affordable and worth value. A lot of times, people have to say in Dubai ofcourse you have to pay premium. Let me ask... premium for what? To live in dust, sand and heat? This is like an agent I had called informed me "In tecom, you have to pay high price." I am sure he hasnt been to tecom only then he would realise that there arent proper roads, drainage, sewage and its completely dusty and pathetic. And pay 80K for 1 bedroom rent? He was sure out of his mind. I am not bashing... but can we have some sense in the words we use.

Its a great city... no doubt. But expensive for no reason. The real estate had killed a lot of market and business here by simply making leasing and buying expensive which then reflected in the price of goods. Which makes sense why recently everything is expensive here and why tourists spend less these days. Ask most of them would say Dubai seems expensive compared to home.

Prices must fall and greediness must end. If anyone paid high price, accept the loss. Just because some fools had paid nonsense price, doesnt mean it has to rise up for them to sell. There aren't much fools left in Dubai. They have all been swiped in redundancies.

Good times

Posted by Captain goodvibes..rjk at 22:37 UAE time

Right on solid and far out...let the good times roll. Hang on to what you have got.Dont let the "wish i had',"should have done" negative cockroaches inluence the your final game plan.