Quote:
Originally Posted by georgihh
Until the market collapses lets say 2 years from now I will loose 10% from transfer charges and 20% percent from rent
On top of that if the $ gets stronger against the Euro I can loose another 10-15% from the rate exchange.
And I don’t think the market will collapse before 2012 at the earliest that’s 5 years from now.
I am predicting 2012 as by that time the market will be really saturated with buildings and there will be not enough people to occupy even 50% of them.
I will sell my flat 2009 year for 420000net and will have 110000Dhs in my pocket from 3 years rent.
That’s almost 100 % profit in $ for less than 4 years.
Than I deposit the money in the bank and wait until the EURO starts loosing against the $.
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I seriously like ur optimism. You certainly have a crystal ball through which you see nothing but PROFIT. Well, my friend, from here the dollar can only go down, that is the reason why china with 255billion dollars surplus is buying assets in other countries and spending its dollars, similarly Warren Buffet is buying the Brazilian reals, the best performing currency, the way for the dollar is down, with Fed Looking to cut interest rates, Saudi also thinking of losing the dollar peg.
The next cut in rates by the fed will give the morgage payers in Dubai a respite, and give rise to a smaller boom, but that would be the ticket to sell, after that you are looking at $1,65=1 euro and $2.25=£1.
This is US being clever to be honest, its slowly wiping out its debt by devaluing its currency by 30-50 % in 5 years, but USA is clever why is UAE holding on to the dollar, its devaluing its currency, properties and giving rise to inflation. My best wishes to all those brave hearts out there.