Like you guys said, the majority of the market is apartments and townhouses that are getting more and more unaffordable for those living here and those coming from abroad would have to be very well off to afford a 20% DP on something comparable to what they had back home. Salaries are not going up, rents are increasing, prices are increasing and there is no respite in sight. The majority of people who run Dubai (the working class) will hit a breaking point very soon...everyone I know has moved in the past year or plans to move this year due to unaffordability. The person who could afford a 2mil loan 3 years ago will still only be able to get a 2mil loan but will be able to afford 30-40% less square footage and further away than they wanted. Traffic is getting worse and the Dubai of old is slipping away.
The Build Quality can be compromised during construction in the UAE. Time pressure during building a main factor. Working during the hotter months can't be easy on the labour either.
I disagree. Like all cities there are a range of contractors and finishes. Whilst prices are not always reflective of this fact there is definitely an understanding of who the good/mid and bad developers are.
With over 17M tourists annually, a shortage of short-term rentals, and a growing population set to hit 6M by 2040, demand for housing remains robust. Add in the influx of Fortune 500 companies and their employees, and the market appears to be on solid ground.
The Dubai property market has always been a subject of speculation regarding potential crashes due to several recurring factors: Rapid Boom-and-Bust Cycles;Oversupply Concerns;Dependency on Foreign Investment;Speculative Buying and Investor Activity;Economic Diversification Challenges. When you look into it deeper you can clear the concerns but most of the overseas based realtors don’t 😊
We’re in quite a unique position now where Dubai is genuinely being seen as a place to set up homes and businesses now rather than an amazing holiday destination alone. There is an argument that we may even see an undersupply of properties handing over if the population keeps growing at its current rate. Time will tell.
Chances of reflation rises, don't see much inflation is coming down. that might effect the rising cost of construction?? Cost if living in Dubai has increased since last 2 years unlike pre covid. More influx of people will make More competitive and crowded.
What do you mean the U.S economy is not struggling as an Arab American I can assure you the economy and the realestate is suffering tremendously, just look at our National Debt it's at all time high 34Trillion dollars to be exact, shortage in housing, highest mortgage delinquent payments reported this year and watch the foreclosures kick in meaning more homeless people out in the streets.
@@Ahmed_ashfaqestate I agree with you when it comes to the real estate market. I also believe that the economy, compared to several other coutures is prosperous. It may not be as prosperous as it used to be but on a global scale, it has a lot to offer.
You only need to research other countries to get a better indication, you can never predict for sure. Take Spain for example a few decades ago. They had a construction boom that lasted 20 years before it began to slow down. And Spain not being a relatively new country compared to Dubai, UAE. Feel free to reach out to me for unique property deals and investments not on the open market.
Guys UAE great and exciting place to in northern hemisphere winter 🥶 months but how are you suppose to settle in a happy life when it’s 40-45 degrees and you chase air con which has its own health problems … UAE in summer months is more miserable than a European winter 🥶 and getting warmer each year and for me why it would only be a part time travel destination
@@Johndoe10007 if you’re part of the fortunate few you can leave the city for the worst of the heat in the summer months but if you do decide to take advantage of the doubtless rewards working here has, you’re 100% right. The summers can be brutal. 😁
At last a video with realistic commentary. Need to follow this channel.
Appreciate the comment. Thanks
Like you guys said, the majority of the market is apartments and townhouses that are getting more and more unaffordable for those living here and those coming from abroad would have to be very well off to afford a 20% DP on something comparable to what they had back home. Salaries are not going up, rents are increasing, prices are increasing and there is no respite in sight. The majority of people who run Dubai (the working class) will hit a breaking point very soon...everyone I know has moved in the past year or plans to move this year due to unaffordability. The person who could afford a 2mil loan 3 years ago will still only be able to get a 2mil loan but will be able to afford 30-40% less square footage and further away than they wanted. Traffic is getting worse and the Dubai of old is slipping away.
The Build Quality can be compromised during construction in the UAE. Time pressure during building a main factor. Working during the hotter months can't be easy on the labour either.
True all over the world my friend
I disagree. Like all cities there are a range of contractors and finishes. Whilst prices are not always reflective of this fact there is definitely an understanding of who the good/mid and bad developers are.
With over 17M tourists annually, a shortage of short-term rentals, and a growing population set to hit 6M by 2040, demand for housing remains robust. Add in the influx of Fortune 500 companies and their employees, and the market appears to be on solid ground.
@@RobertKoenekamp-u9q The growth of industry here is the key to the growth of the population. More companies = more people
The Dubai property market has always been a subject of speculation regarding potential crashes due to several recurring factors: Rapid Boom-and-Bust Cycles;Oversupply Concerns;Dependency on Foreign Investment;Speculative Buying and Investor Activity;Economic Diversification Challenges. When you look into it deeper you can clear the concerns but most of the overseas based realtors don’t 😊
We’re in quite a unique position now where Dubai is genuinely being seen as a place to set up homes and businesses now rather than an amazing holiday destination alone. There is an argument that we may even see an undersupply of properties handing over if the population keeps growing at its current rate. Time will tell.
Outstanding post! This information is a game-changer.
@@earealestate2961 Thank you
Chances of reflation rises, don't see much inflation is coming down. that might effect the rising cost of construction?? Cost if living in Dubai has increased since last 2 years unlike pre covid. More influx of people will make More competitive and crowded.
@@MohHus-r7o Competition is great for business
Excellent Podcast
@@ganifarm72khan45 Thank you
What do you mean the U.S economy is not struggling as an Arab American I can assure you the economy and the realestate is suffering tremendously, just look at our National Debt it's at all time high 34Trillion dollars to be exact, shortage in housing, highest mortgage delinquent payments reported this year and watch the foreclosures kick in meaning more homeless people out in the streets.
@@Ahmed_ashfaqestate I agree with you when it comes to the real estate market. I also believe that the economy, compared to several other coutures is prosperous. It may not be as prosperous as it used to be but on a global scale, it has a lot to offer.
Awesome pod
@@willia_mbrown Thanks William
You only need to research other countries to get a better indication, you can never predict for sure. Take Spain for example a few decades ago. They had a construction boom that lasted 20 years before it began to slow down. And Spain not being a relatively new country compared to Dubai, UAE.
Feel free to reach out to me for unique property deals and investments not on the open market.
@@scotland2196 A shameless plug scotland2169… I love it 😂
Keep up the good work
Guys UAE great and exciting place to in northern hemisphere winter 🥶 months but how are you suppose to settle in a happy life when it’s 40-45 degrees and you chase air con which has its own health problems … UAE in summer months is more miserable than a European winter 🥶 and getting warmer each year and for me why it would only be a part time travel destination
@@Johndoe10007 if you’re part of the fortunate few you can leave the city for the worst of the heat in the summer months but if you do decide to take advantage of the doubtless rewards working here has, you’re 100% right. The summers can be brutal. 😁
Completely disagree that the market in dubai will crash - caption is wrong
@@judecoutinho1494 Did you listen to the podcast or just read the caption? 😉
Good place to download funny money.