# House prices down again



## telecompro (Apr 4, 2013)

With the house prices going down as i keep reading reports for the past few weeks..what do you guys think this is indicating? Do you think it is a good time to buy or a crash is on its way. I personally do not think this will happen as the market is basically correcting itself and will do so for this whole year.

Would love hear everyone's view and where you stand in regards to renting or buying.


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## Nuzhat1980 (Mar 30, 2015)

Well I think the rental price is going up rather than going down contrary to the reports. No clue about the buying situation.


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## INFAMOUS (Apr 19, 2011)

It can drop all it wants, me personally will never buy here as there are many other places I would like to buy in first.


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## The Rascal (Aug 6, 2014)

They'll continue to drop until September, by all accounts no-one is buying here at the moment, that will continue over Ramadan, then the crazies will come along after the Summer Break (with more employment) and the cycle will continue.

I'm waiting for the market on Saadiyat to drop another 20% then I'll buy there.


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## dream_dubs (Apr 4, 2015)

One needs to study the Boom/Bust theory, and then decide in which phase Dubai property is in. We have Bubbles all over the place, from Berlin to Lisbon and back to Sydney. Simply try and recognize whether Dubai is going through a simple corrective process (-10%/-20% from peak) or whether this is the end of it! Try and also discover the true fundamental value of property prices in Dubai, taking out the "speculative" nature of the credit cycle... you'd be shocked at what per square foot price you'd come up with.


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## telecompro (Apr 4, 2013)

dream_dubs said:


> One needs to study the Boom/Bust theory, and then decide in which phase Dubai property is in. We have Bubbles all over the place, from Berlin to Lisbon and back to Sydney. Simply try and recognize whether Dubai is going through a simple corrective process (-10%/-20% from peak) or whether this is the end of it! Try and also discover the true fundamental value of property prices in Dubai, taking out the "speculative" nature of the credit cycle... you'd be shocked at what per square foot price you'd come up with.


So true - would be great someone experienced in the field can shed some light here


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## The Rascal (Aug 6, 2014)

telecompro said:


> So true - would be great someone experienced in the field can shed some light here


Gut feel and intuition, very few people predicted the last crash even though all the signs were there.

I wouldn't trust a so called "Real Estate Expert" (An oxymoron if ever I've heard one) with anything, they tell you what they _*think *_you want to hear and massage it in with their personal agenda.


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## TallyHo (Aug 21, 2011)

Plenty of us were predicting the last crash before it happened, but no one imagined the severity of it. For a long time there was also talk that prices would drop a bit then stabilize, as Dubai was "oh so different" but as we know that wasn't the case.

Spoke to someone who manages the property accounts for Dubizzle and he predicts a 30-40% fall this year based on the listing patterns he's seeing. But that's just him (and a friend of an anonymous internet source via me!).

My personal view: prime properties in prime areas are holding up, secondary properties will fall more quickly. 



The Rascal said:


> Gut feel and intuition, very few people predicted the last crash even though all the signs were there.
> 
> I wouldn't trust a so called "Real Estate Expert" (An oxymoron if ever I've heard one) with anything, they tell you what they _*think *_you want to hear and massage it in with their personal agenda.


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## twowheelsgood (Feb 21, 2013)

What is likely to be different is that last time it was pretty much 100% hype that was keeping the market up.

In this case, there's a lot of properties coming available and supply will greatly exceed demand, even if the Russians were to start buying entire neighbourhoods or blocks again.


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## telecompro (Apr 4, 2013)

TallyHo said:


> Plenty of us were predicting the last crash before it happened, but no one imagined the severity of it. For a long time there was also talk that prices would drop a bit then stabilize, as Dubai was "oh so different" but as we know that wasn't the case.
> 
> Spoke to someone who manages the property accounts for Dubizzle and he predicts a 30-40% fall this year based on the listing patterns he's seeing. But that's just him (and a friend of an anonymous internet source via me!).
> 
> My personal view: prime properties in prime areas are holding up, secondary properties will fall more quickly.


I agree and that makes total sense but 30-40% is quite high drop dont you think? I believe if you plan to buy, its best to buy in developing new areas (such as JVC, Sports city etc ) and not well developed since from an investment perspective, its hard to make money when you try to sell few years down the line.

Again who knows ..its an open and tough question :confused2:


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## Fat Bhoy Tim (Feb 28, 2013)

TallyHo said:


> Plenty of us were predicting the last crash before it happened, but no one imagined the severity of it. For a long time there was also talk that prices would drop a bit then stabilize, as *Dubai was "oh so different"* but as we know that wasn't the case.
> 
> Spoke to someone who manages the property accounts for Dubizzle and he predicts a 30-40% fall this year based on the listing patterns he's seeing. But that's just him (and a friend of an anonymous internet source via me!).
> 
> My personal view: prime properties in prime areas are holding up, secondary properties will fall more quickly.


Always laughed at that ****.


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## Mr Rossi (May 16, 2009)

If you plan to buy a house and live in it for the next 15-20 years, offsetting all rent for that period. Then buying in Dubai is perhaps a good idea.

If you're from an unstable country with a political situation worse than the UAE and want to get your money out, then buying in Dubai is a good idea.

If you think, rent is dead money and want somewhere to live for 3-5 years, before selling that property on for a nice bit of profit. Then you're up against many chaotic elements that simply can't be analyzed or speculated on, the way you can in other countries.


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