Mark Wallington's Blog: All Categories

With the current economic down turn and Dubai real estate residential property crash, there has been a quick and strong shift in emphasis to affordable housing. Dubai residents have found that they too are not immune to the world’s economic problems, and have been affected just like other people all over the globe. Dubai has seen job losses and residential freehold property prices plummet, whist numerous property development have at best been put on hold, and in most cases simply canceled due to a lack of interested buyers and an inability to obtain project funding. Whilst some lucky folks have not been affected, and are still able to purchase large and up market luxury property, the average person has to be slightly more prudent with their cash. With…

Usually when Dubai developers suffer, Dubai investors are then forced to feel the effects too. However this week has seen the unusual situation, where a Dubai developer’s problems have ended up resulting in a positive situation for property buyers! In what some are calling a wise move giving tough market conditions currently being experienced, and others are calling a move of desperation, developer Deyaar has taken drastic action in order to help the firm get around its current cash flow problems. Dubai real estate developers have been hit badly of late, with the property downturn, low investor confidence, difficulty obtaining funding, and recently a range of new legislation and laws being implemented by the Dubai Real Estate Regulatory Agency (RERA). All…

We have a unique property for sale in Ajman in Goldcrest Dreams which is a 1 bedroom apartment direct from the owner at a very good price, full details are below:

The four magestic residential towers of Goldcrest Dreams is being built in the newest mixed use development on the Emirates highway, Ajman. Aptly named the Paradise Lakes, it caters to a wide range of tastes and preferences - an ideal environment to build your dream home.

Dreams at your door step

The moment you step out of your comfortable apartment, you are spoiled for choice with ready access to shopping areas within Paradise Lakes.

And if you are not an avid shopper, perhaps you could choose to spend the whole day by staring at clouds silently moving above or working out in the gym…

With all the negative headlines about Dubai freehold property prices crashing and developers having to delay or halt construction on planned projects, the announcement that a large amount of Dubai real estate has now reached completion and is nearing handover time can be greeted with a mixed reaction at the present time. One the one hand it is good news that a developer has successfully managed to complete and deliver its promised properties to investors. However on the flip side, we are currently at a situation where freehold residential property prices are in freefall with no one really wanting to buy in such an uncertain environment. The delivery of a large deal of property to the market will only increase supply at a time when demand is at an all time…

With freehold residential property prices falling at an alarming rate, and with predictions from experts saying this is unlikely to change in 2009, no one is exactly rushing out to buy Dubai properties for the time being. With banks not really willing to offer much credit at the moment, deeming it too large a risk, even those wanting to buy properties are finding it hard going unless they can obtain the cash by other means. The only properties that seem to be moving at present are distressed sale properties, whose owners have not been able to make the necessary payments on the property, and are therefore forced into selling at a much reduced price. But where does all this leave developers? They still have properties to sell, but at the moment there is no…

One of the things most likely to attract negative publicity in Dubai is unreasonable behavior from a developer when it comes to dealing with customers. Whilst not that common, when it does happen, it tends to generate a lot of interest and does in some ways act as a reminder that the Dubai real estate market is still young and still has some way to go before it fully matures into what it would like to become. Dubai developers have in the past not always acted in the interest of customers, but the most recent story to cause uproar among residents does not actually involve a property developer but rather a property management company. The dispute surrounding Jumeirah Beach Residence has been covered on the blog before, but it now seems like the deadlock…

Every day there seems to be another report telling us how much Dubai real estate prices have decreased of late, or how much we can expect them to decrease further in the coming months. And today is no different! Yep, more figures are being thrown around; this time the figure being used is an average drop of 30% throughout Dubai property. This is according to Gulf Housing, but the general message being delivered if one of a positive future for Dubai property. The announcement was made at Dubai’s Mega Projects Conference and went onto speculate that the days of Dubai’s record breaking developments may not be quite over yet! Gulf Holding simply believes what is currently being experienced throughout the Dubai real estate market is nothing more than cyclical…

Well first up is the news that Dubai real estate developers are now starting to openly admit that all is not well in the real estate market! What really! I know a shocking revelation, but it was only 6 months ago developers were trying to paint a picture of a rosy property market, that would recover in the 1st quarter of 2009, and than no job cuts would be necessary etc. You get the general idea. But now, they seem to have actually come around to the fact the fact the market is in a bad state. Whereas previously developers would dart around questions to do with development progress and property demand, now they are responding more honestly to questions, and are giving more information on project problems and setbacks. This enhanced communication can only…