Dubai offers 99 years PR for Apartment buyers

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amit kalia
Member since: Nov 03

Posts: 434
Location: Mississauga
Post ID: #PID

Posted on: 23-01-09 22:29:44

Quote:
Originally posted by amit kalia

There are contradictory reports about the property boom in Dubai. According to some experts boom may not continue. Others, see Dubai continuing to grow, somewhat at a slower pace than in the recent past.

You may already know that Dubai real estate boom has gone gloom.

Many projects that were yet to enter construction phase have been stalled or cancelled.

I know someone who had booked a property for approx. 3 million AED, the same surged to almost 9 million by Aug 08 (speculation by the way of assignment; i.e. value on paper before completion). Now this property is not even selling for 3 million in today's market.

Worse hit are star projects that experienced maximum price appreciation, like Palm Dubai.

One of the reasons, projects in Dubai were mostly bought by speculators (very few long time investors looking to hold) with no real buyers. This imbalance created a bubble.

The drastic rise and fall of Dubai R.E. may also be blamed on the media/government hype.

Regards,

-----------------------------------------------------------------
Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

dsd
Member since: Aug 04

Posts: 296
Location: Alberta
Post ID: #PID

Posted on: 24-01-09 10:35:16

No need to waste money in Dubai . Dubai is concrete jungle . If I have 100000USD I will buy good property in my village in India . I will by farm land , hire labours & do farming & sell agri products . I can live like land lord in India .

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DSD

Contributors: flyinghigh(5) new york(4) amit kalia(3) tamilkuravan(2) puttoo(2) dsd(2) neerupam(1) iiq2000(1) brown_bear(1) premlata s kambli(1) G13(1)

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