ounces of gold

[Don.W]

I think International City is a unique investment opportunity. Why?

1. There is very little affordable real estate in Dubai at the moment. Wherever you go (Marina, Palm, Old Town, Greens) the prices are 1.5 million plus - that's if you are lucky. The units here are not as prestigious or as well finished as the others, but still there will be a good demand for low to medium priced units in Dubai for the next 5 years, both for purchase and rent. I am sure someone who is working in Dubai and trying to procure affordable accommodation would rather stay in IC than Sharjah.

2. Once International City becomes fully functional (i.e. everything has been built and we see more greenery), people would feel more at home here = prices will increase further.

3. Yes right now the pound and euro are strong. It would be a good investment for those dealing in European currencies to buy now, as they will have greater purchasing power. Furthermore they will pocket a handsome return if they hold on to this for 2-3 years as the Dollar will strengthen. A double bonus for those investors.

4. After all it's under the Nakheel brand name!

5. Eye.C, gold is at the moment at the highs seen decades ago, alot has to do with the weakness in the US dollar. Most things are cyclical so may see it increase a little more and then drop sharply once the dollar strengthens.

[eyeC]

Originally Posted by Don.W

hold on to this for 2-3 years as the Dollar will strengthen .

but take my word there is only one way to go for the dollar DOWN and it is good for everyone apart from far east mainly china, India etc

and not for one year or two...... for years and years to come maybe 10 years or more

and the keys will be handed to the new world Currency just like what the pound did before


Lets say buying gold will not make for you profit but you will not lose purchasing power and yes people want to make profit so they look for other investments

Try selling your IC flat now see how much gold ounces you will get (i bet it is less now than few months back or less than last year)

[georgihh]

Originally Posted by eyeC

FACTs

before
If you bought your flat last year it would have cost you approx. 108 ounces
of gold 3.375 KG of pure gold .

now
it would cost you approx. 141 ounces or 4.4 kg today
and it would produce for you approx.12 ounces ayear

so how good is this chicken i leave it up to u

1 kg= 32 ounce

if you have any comments about this chicken please post it here

The gold chicken doesn’t pay service charges transfer duties and I don’t want to think of what else.
But the flat chicken pays all of the above and The chicken is very big and to get rid of it you need a lot of time and more and more charges

Why should a carry such a big chicken which can burst when a can carry a small bag with my gold and still can make some money

[eyeC]

now you are on the right tracks

i never thought of the weight

[eyeC]

lets see what was said here few months back


1-"gold is heading for $900 per ounce next year and you can get (20 to 1) leverage much better than a property mortgage where you get 8/1 20% down payment on average "

it reached $892 / ounce today second week of 2008

2-"prices will pick up again very soon

price of a studio flat in ic should be around 400,000AED

no drop no peg it will never happen "


prices did move up to almost 400,000AED for a studio and yes no depeg

3-i did say buy gold now (at the time)property later

so lets see

it would cost you approx. 122 ounces of pure gold or 3.8KG which makes buying now cheaper than last time calculations.

i assumed gold at 892/ounce and studio flat 400,000AED

from the above price of gold which means higher inflation than last time (if we assume gold is a global indicator) buying today is cheaper

therefore property prices should go up more to catch up with gold(or inflation)


prices go up with high inflation and go down with restrictions such as rent cap

so i guess lower property prices at the moment are reflecting the rent cap reduction from 7%to 5% and maybe to the unknown