Wednesday, August 27, 2008

Home Apartment in Dubai Booming

Do you know that the Home Apartment price, value and rental are sky rocketing in Dubai. While it is fllane shrply in America the aprreciation in propery market is just growing like anything. Many people got riches from rags over night. I will give an exmple, here in Jun 2008, prior to my vacation in Toronto, Canada, I negotiated an apartment house in Dubai. The seller wanted ,AED1.1 million fixed. Lastly he agreed at AED1.035 million. I checked with my banker whether they could fully finance the required amount. Thy agreed 70%. I had money in stocks. As the stock was very flaten and down, I could not or my wife did not agree to sell at so much loss. So I opted for vacation. The agent called me in Toronto whether I could give him some advance so that he could convince th seller to wait until I come back from holiday. I did not take action. Now see the situation. I came in August & enquired, and found the value has increased to AED1.4 million. What is the rate of appreciattion? 35.20% correct in 2 months. What is in a year? 211%. And that is not the end. It will increase further.
Do you the irony of life? My stock portoflio value has fallen at 27% in months means 162% per annum. Now should I cry or regret? I cannot afford to catch the price rise of properties with the stocks held.
SO I bet if you did not wake up yet and take action to buy some properties in Duabi, Abu Dhabi or any adjusent area of UAE, you will remember my blogs and regret or cry or scream by yourself.No one will listen to you. You the Americans wake up, listen to my call and take copntrol of your life without fear like Mr. Donald Trump- you country fellow mate who got the vision. He left America and invested in Dubai AED4 billion in a 7 star hotel and Trump Tower. Still don't you believe me!
Dr.Altaf Hossain
Call me now.

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