Quote:
Originally Posted by Roshan
It's healthy discussion and exchange of views and nothing personal.
You have a valid point, however at the moment, getting commercial space in Dubai is difficult with 1% vacancy rates. Dubai chamber of commerce issued 1100 licences last month only as per the article on Gulf News. Yes, all that is bound to change when more commercial property comes in, which takes me back to the point I made.
An investor ( investor A ) who bought ar 1295 dhs psf in Business Bay is bound to do well than an investor ( investor B ) who bought for 2800 dhs psf. If the market should correct, the corrections will be on the prevailing rates of 2800 dhs psf if not more.
Now even if the market corrects by 50%, investor "A" who invested at 1295 dhs psf will not be affected. More over investor "A" would be able to rent out at a lower rate.
Right now it's a wait & watch situation. Everybody hopes that people will come in. Dubai is strategically located they say and that should be a plus point.
This is my analogy, hope it's right.
Regards
Roshan
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Hi Roshan
Your thoughts are very sensible but the tread is about Eden Garden.
People are not happy with the delay of the project as they are loosing money.
A year delay will cost them at least 50000 DHS (per studio).
And I don’t think if the construction takes longer, the property will be of better quality, for the simple reason that the cost of the materials and labour are going up and the contractor will try to save money.
So one year delay will cost you not only money but quality.
Further more the price of the property goes up at the time of completion and is difficult to sell if on hold .
As I can see some of the people paid everything in advance and I understand their frustration. But as I said Dubai is full of surprises. Some people are lucky (like Roshan) and some are not ( like the people bought in Eden Gardens).
So far very few have lost money from purchasing a property in Dubai and that’s a good sign.
My advice is - don’t gamble with all of your money and keep some for rainy days