Emirates City Forum

Dear sir
resale prices also a factor of market trend, these days so many investors are even tryin to sell their apartment at par ( without any premium ) and still they are unable to sell. this clearly shows market trend.
At this time if somebody says that chapal is selling at 600, its a joke for me.
thanks

Newera,

Lets make it clear.

We got two types of sellers in the market at this time of the year.

1. Speculators - Expected to resale at certain period, but unable to do so due to financial crisis and therefore forced to resale at minimal premium. This could be an opportunity for people looking for homes and this could be a terrible moment in time for speculators, who hoped to resale at much higher premium.

Who would have thought this crisis would hit the market at this time of the year?? I never knew!

I bought a unit in Lake Veiw towers 1 before 15 months at 320/- and resold at 390/- in 7months! i am a speculator, and guess what we need speculators in the market anyways.

2. Panic sellers - Due to financial crisis, people didnt know what to do, started panicking and tried to resale their unit at any price even though they were able to continue their installments and some of them had already paid 80%! these are people with little knowledge and understanding of the market.

So lets make it clear ^^

Chapal sells at 600/- are pre-launch and this primary market are still moving forward and plenty of people are buying because of minimal installments payable right away with flexible 6 year payment plans.

Resale will be good but just the wrong time why?

1. Global financial insecurity - Lets hope these concerns clear up very soon which i think it will in the 1st qtr next year.
2. Negative speculative trends from anti-Ajman residents, speculators and such..
3. Resale should usually occur during the final stages of completion but with people wanting to resale at the time when above stated are happening than it takes time.

But overall its good investment EC, far better than any other projects near emirates city.

**I really do not wish to resale my unit right now at the wrong price. Does anyone wants to be a purchase partner? Any one interested to keep the unit for another few years and looking for good return. Let me know, we would partner up (Possibly 3 partners?)**

Like what the xperts stated " UAE banks are liquid, but if the people wants it to be bankrupt than it will be bankrupted.

Sentiments have overtaken the fundamentals.

Yes the market prices are overvalued but by how much? We saw over 300% increase in property value, Dubai, so another 30% decrease will not make a huge difference. In fact the actual premium should have been 150%, so i see a continuous gradual of fall in prices for short-term to mid-term til 2nd Qtr next year.

U mentioned 350/- but does it refer to pre-launch, resale or speculator Properties?

I doubt if the prices will fall in Ajman, The only thing that is likely to happen is various developers will hold launching projected properties and a better bargain for speculative ones.

Prices may fall in Ajman, u just never know! but how far can it fall? It's Ok. We need to see a bigger picture down the line.

I think its healthy for the prices in Ajman to fall, why?
-Anticipated projects will delay or hold for another year!
-Speculators will disappear!
-Less projects mean healthy balanced number of residential complex
-Demand increases while the supply falls!
-Alertness to developers to ensure prompt actions related to construction.
-Already started projects will take full advantage of fall in steel and other material prices mainly thanks to slowing real estate market

I heard someone say, This part of the world is hopeless!

I say, MAN! give this place a time to breathe. UAE was formed approx. less than 40 years ago, and freehold only started 7 years ago in Dubai and 4 years in Ajman.

Comparing UAE with Europe/America is quite embarassing!!
Dont expect UAE to be another Europe, It took them over 1000 years to establish a solid foundation, Ajman only 4 years lol. Come on friends!!

Yes, there are issues or concerns but we gotta deal with that, things are changing and we can notice that so give it a time to improve while we continue our efforts to push them to get the job done.