Tuesday, November 18, 2008

Is Real Estate Market really going down?

With the global economic crisis hitting Dubai's real estate market and other businesses, it has been reported that real estate business is going down specifically the off-plan properties. No premium properties or distress properties are common now in the market.

I am neither a real estate agent nor a broker but as what I have heard from agents and read from newspapers, I think that this is true. One of the popular Dubai-based estate developer as they say is laying off around 200 of its workers. The other property firm had reduced the level of its shareholding allocated for foreign investment from 20 percent to 15 percent to protect itself.

It has also been reported just in case you don't know that there are banks who are now reluctant to lend against a property that has yet to be built. And even car loans as what my colleague told me is now on hold, I don't know if this is true.

I have made a poll to see whether it is true that real estate market is really going down. You can cast your vote on the upper right portion of my blog if you think you still want to buy property in Dubai and you can give your comment why did you choose your answer.

4 comments:

Real Estate Guru said...

Real Estate is versatile, can be customized to fit any objective and is capable of yielding steady and multiple streams of passive income.

KALI said...

the Crisis is all over the world. no assurance when you can hit the best buy for now.
the best thing to do is to be safe...

Realtor said...

These are several of the most common terms you will hear from your realtor while you're shopping for a property. If you want to find the property that will best fit your needs your needs find a realtor who specifically handles and nowhere else. Someone who knows about it from front to back will be able to get you the best deal on the best property for you.

Extreme said...

I like this blog. It provides well thought of insights about Real estate properties :-)

Regards,
Abdul

Dubai Rental Index