Jameel replied on Monday, November 17, 2008 07:45 PM
Ready property with residential potetial will lose only about 25% to 50% value as we have seen in Lahore as well, the Projects in pipline will come to earth and people may lose lots of money in them, and later account for about 80% in Dubai and 95% in Ajman. The point of Bubble bust in Dubai is such that no one will be winner, Rents might come down marginnally because of some supply and winding up of Constuction activities [people losing Jobs and going back to their homes as in 1995], Had it been after completion of 50%+ projects you must have got chance to buy at very attractive rates, as happened in US where most of Projects got completed before market crashed.
The current sceinrio will put more strain on Banking and mortgage sector if projects are to be completed. |
