21 August 2011
Interesting Conversation with an Individual Investor and REIDIN2.1
I would like to share an incident w/ you happened this morning and link it to how much it makes sense where we are heading w/ the new REIDIN2.1 design
changes and REIDIN3.0 strategy.
I got a call this morning from a German friend/Thomas who lives in Dubai, works for a multinational company for the last 15 yrs – fairly wealthy and owns
4 houses – 1 villa and 3 apts in Dubai.
He has a problem w/ a Villa as he was not sure if he could buy another one as he had a good deal – he thought he had a good deal b/f calling me. Basically
he had an offer for a Meadows 3 b/r villa for AED3.4m and he was ready to buy for cash. And he asked me my opinion.
Firstly I told him I am not an expert – he should talk to an appraiser – secondly I only can help him with what the REIDIN tells in based on unbiased data.
Thirdly it shouldn’t be taken as an investment advice – disclaimer ;))
I looked at listings, then transactions – a 3 b/r villa/size range 3000-4000 sqft-last one month/3 months averages (we should calculate MEDIAN by the way) etc..
It we found out that the range for a 3 b/r is AED2.6-AED2.9mln – so I told him if the house he is looking at doesn’t have any unique features then it’s overpriced.
His perception was the prices are going down in Meadows – which is wrong info :