# Dubai Property Prices



## arfie (Jul 23, 2004)

Are property prices in Dubai still likely to increase by 30-40% over the next 2 years as expected before or are prices hitting there peak now ? What are the signs like in dubai ? From what I hear it wont be long before all the apartments in Dubai ( Palm, Marina, JBR, JLT ) are all sold out off plan. How does the market look for those that are out in Dubai ?


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## Dubai_Boy (May 21, 2003)

well in 2-3 years time , most of the towers will be completed and i think prices will go down . there will be a lot of competition , and tower owners will put down prices to get the most residence


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## Dubai-Lover (Jul 4, 2004)

Dubai_Boy said:


> well in 2-3 years time , most of the towers will be completed and i think prices will go down . there will be a lot of competition , and tower owners will put down prices to get the most residence


i don't think so
maybe 30 to 40% is a bit much and too much positive thinking, but the prices are expected to rise
this is why many people immediately buy the apartments very cheap from the developer itself or via a real estate company, whose prices are a bit more expensive than the developers' prices because they are "second hand"

when the investors sell their apartments after the tower has been completed they expect to make some extra money, 30 to 40%

if the economy keeps growing like this i don't see a problem here


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## AlMillion (Oct 17, 2004)

Its all about affordability - I'd imagine as the market matures competition amongst the banks will increase and mortgages will be easier to obtain at lower rates over longer periods. Additionally as the number of companies moving to Dubai increases the average wage in Dubai is likely to go up dramatically (esp. with things like the DIFC) meaning more people can buy more expensive places.

Don't forget that a massive portion of people buying are foreign (wish I knew what percentage) and so while its cheap compared with the West there's room for prices to rise. Just look at the Ukraine, Czech Republic, etc.

Population grew 22% last year, didn't it? And there's expected to be a shortage of property until 2010??!


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## arfie (Jul 23, 2004)

I have bought a 2 bed and a 1 bed in the Goldcrest Tower @ JLT. Im thinking of selling my 1 bed to buy in the JBR. Im trying to set up a business where I let out these apartments to holiday makers from UK and elsewhere. Ive purchased a website dubailuxuryholidays.com. Do you lot think there is a good market for this ? Im told prices will rise by 40% from now till completion and alot of tourists expected in the country for many years to come.


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## juiced (Aug 18, 2004)

Prices will probs go up but 40% sounds a bit overambitious


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