Imthiaz Blog

I think there is going to be a substantial correction in the Dubai real estate market. Banks have either stopped financing or put stringent lending policies for retail investors. Moreover, due to current economic crisis some companies have already started trenching jobs. And, I heard that this is a beginning of a massive job cuts because of the crisis. If this happens, it will eventually lead into a real estate crash.

It happens everywhere when things are over priced. But i’m sure it is going to come back anyway. When there is a upside there is definitely a downside, nature economics.

In the real estate industry, Dubai is seen as a prime target for investment purposes. In fact, real estates in Dubai have consistently grown at 20% annually, compared to other places where constant fluctuations are the order of the day.

I’m no market expert in the Real Estate Sector but I believe in 2 things on this planet, one is Gravity – what goes up must come down and vice versa and two is – The strongest survive. This has been proven time and again in the annals of history. I am but one of the few disgruntled tenants in Dubai, inspite of the insane property prices, I have chosen to stay. Why you ask?…one it’s a great place to be in, second, even if the place am staying at now is literally screwing me over with rental rates, I’ve managed to find this one broker (Roots Land Real Estate) whose managed to do the impossible for me and found me a reasonable enough apartment to move to. Thank God for that! Let’s just all hang in there and see how things go. Here’s to keeping our fingers crossed.