Dubai Sports City

Saw an article on yestdays Independent that promotes investment in this. Anyone have any other insights or views?

I'd like to buy in Dubai -where is it ?

See this thread for some discussion on the topic
http://www.askaboutmoney.com/showthread.php?t=20823

Dubai is over the border from Saudi and next door to Iran and Iraq, lovely place but the creek is too stinky and polluted!

I bought 2 apartments in Dubai 2 years ago, one is Sports City Canal Residence and one in International City and they have done quite well for me.

Even now it is a great investment as materials and cost of living are starting to increase which usually means that this has a knock on effect on price of property. If cost of build increases then so does selling price.

I would recomment traveling out there to buy and seeing for yourself. Totally amazing place and it only the beginning

Would not touch Dubai property / appt investment with barge pole.

IMHO Dubai is world's largest property ponzi scheme.

Beware.

Totally disagree. I have been there twice in the last couple of years and it is very much the land of opportunity. Big shortage of available living accomodation out there now which inevitably means that if demand is high then prices will only increase.

Prices are expected to increase by 20% again this year. Great investment. Check out Sports City the first of its kind in the world

Dubai is another junk-bond market that is being dumped on amateur investors, complete with guaranteed rental scams and all the usual garbage that makes the pros run a mile.
Bottom line, something like 15% of all the world's cranes (to give you an idea of the sheer size of the bubble) are engaged building so many apartments and villas in Dubai that the market is bound to implode when they are all finished. If you increase the housing stock anywhere by a multiple of 200 times, what do you expect?
Also remember that most holidaymakers in Dubai go to hotels, not to apartments, and this is unlikely to change anytime soon. Add in the cost of fuel, for transport and airconditioning in temperatures of 50+ degrees, as well as the fact that your title is dependent on the whim of the local sheik, and you begin to get the picture.
Roll up, all you gullible idiots with more money than sense.

I have to agree with Lollix; I looked at Dubai in '04, as my boss at the time was based there, so I was over and back. It just never struck me as anything but a bubble; but what do I know, four years on, and it seems to still be inflating (the bigger they rise? .... ).

Heres a very good middle(ish) of the road view view from the GPG:


"Here we have to admit – we got it wrong. Last year we put out an advisory on this site saying that ‘apartment prices have peaked in Dubai.’ We were wrong. Dead wrong.

There is, however, an issue about just how much property can be absorbed. The charge was led by investment bank EFG-Hermes, which in December 2006 forecast prices ‘probably beginning to fall in 2008.” EFG-Hermes believed that 69,000 units would be delivered in 2008, and its most optimistic scenario saw a 25-30% fall in values by 2010."


It also has stats to show a drop in yields. Dubai is a speculators dream; long-term though, I'm not so sure on the prospects. Financial services and tourism might just pull it through though.