panic situation In Gulf countries. - Indian Real Estate Forum

BIJUG9 · 08-01-09

Some facts about the panic situation In Gulf countries.

1) There is a panic situation in Gulf countries about the layoffs amongs the expatriates. All major projects are on hold and thousands of labours and engineers recruited for these projects are got terminated.

2) In a 3 months time traffic in UAE reduced atleast 30 % due to slowdown.

3) 60 % of the real estate sales in Kerala is from NRI community from GCC.

4) Recently, sobha developers called me and offering 30% discount for their ready to occupy luxuary flat in bangalore.

5) Because of high exchange rate most of the people to loans in last 6 months and most of them trapped in the layoffs happed in last 2 months.

In this panic situation, who will think about to invest 30 lakhs rupees in 1100 sq. ft apartment.

Now here , we are thinking only about survival.

Regards,

lovebird · 13-01-09

Yes, do noy buy any flat now. Many companies in gulf are terminating employees like in US.

Real estate will be further down soon

08-01-09	#1
BIJUG9 New Member Join Date: Oct 2008 Posts: 3 Thanks: 0 Thanked 0 Times in 0 Posts	panic situation In Gulf countries. Some facts about the panic situation In Gulf countries. 1) There is a panic situation in Gulf countries about the layoffs amongs the expatriates. All major projects are on hold and thousands of labours and engineers recruited for these projects are got terminated. 2) In a 3 months time traffic in UAE reduced atleast 30 % due to slowdown. 3) 60 % of the real estate sales in Kerala is from NRI community from GCC. 4) Recently, sobha developers called me and offering 30% discount for their ready to occupy luxuary flat in bangalore. 5) Because of high exchange rate most of the people to loans in last 6 months and most of them trapped in the layoffs happed in last 2 months. In this panic situation, who will think about to invest 30 lakhs rupees in 1100 sq. ft apartment. Now here , we are thinking only about survival. Regards,

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13-01-09	#2
lovebird Member Join Date: Dec 2008 Posts: 387 Thanks: 0 Thanked 0 Times in 0 Posts	Yes, do noy buy any flat now. Many companies in gulf are terminating employees like in US. Real estate will be further down soon