Many real estates are already closed those still open are not happy with the market. Some of the agents have put their hands in different categories like steel, cement & gold even there they are not able to earn anything? We don't understand when the market will come back?
Please let me know rather we concentrate on selling or renting?
It is predicted that Dubai property development prices are expected to continue diminishing for a further six to nine months.
According to a survey, young executives are paying up to 60% of their salaries on rents in Dubai, so the key matter is affordability. The investors may return, If things slow down and it becomes more rationally priced.
As mentioned by Faisal, in the last few months it was expected that the market will start picking up by the end of August or September after the summer period has passed away, however now the general sentiment in the market is that it will take another few months before we see a positive trend.
According to latest news and articles, certain areas are seeing an upward trend or stable prices so its very difficult to predict when the market will rise again but my general guess is that we would have to wait for 6 months at least before we can take a sigh of relief.
mmm...its simple not that hard...why dont you focus on the segments...market is not shut down completely...still people are buying selling and renting but the thing is the type of investors have changed...new segment have come...those who couldnt invest before since the prices were high for them...now when the prices came down those people wanted to invest since the prices now became reasonable for them...look into Sharjah freehold is opened for arabs
If you have say 10 or more sales/rental consultants then you could set a target of 4 - 5 rentals per person per month. This would give you a decent return.
On the other hand, if you have a smaller team then perhaps focusing on sales would be better.
You will just have to do a quick cashflow of your costs ... and then see how much money you want every employee to make to breakeven. If it is around 10 - 12 thousand then you could do rentals. If more than 20K then sales are better.
When you are wishing to invest in Dubai, then research is what you should concentrate on. It is of prime importance that you should gather as much information as you can from various sources and then make an informed decision.
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