Monday, February 4, 2008

Arabian Business - Continued housing supply shortages and unprecedented price hikes in 2008 will make Dubai’s real estate market the second most expensive in the world, after the West End of London, according to analysts.

“Accelerating growth rates have equipped expatriates with the means to rent houses at high rates, and the situation is least likely to be resolved in 2008 as the market is expected to be in short supply of housing units”, HC Securities Brokerage said in its Economy Watch Bulletin. continue reading



What about Amman? I have been hunting for office rental and I can confidently assure you that the prices went crazy even in average streets and neighbourhoods, unfurnished apartment which you can get your office registered at legally is about 250 JOD a month and I'm talking about 110 meter and less kind of apartments.

Everything counts for the property owner, finishing, painting, neighbourhood, water availability, electricity supply compared to the number of rented offices , guards, shared office boy and even the view from your window and of course having any of the mentioned above means using the plus sign and never the minus.

Although news talking about 90,000 empty house in Jordan, the prices aren't going any lower and we can definitely blame the Iraqi boom for that and of course the greedy business rules.

The best might be hunting for a land that is 120km around Amman, although there wont be any StarBucks nor Costa near you in next five years but that seems the only feasible way to have your own house in Jordan without being over paid or paying for a low quality finishing house and if you are lucky in a 10 years of time GAM might include your area to Amman and then the price of your land and house would double the double of the doubling price but that's not an important factor although it might push your stamina to live there for a while.

Amman is getting bigger by time, geographically Amman is bigger than Cairo now and in 10 years of time or even less it will get even bigger and then service should be close to your place.

Ammanie used to mark 10km of distance as too much but things have changed, some of Madaba's neighbourhoods belongs to GAM now, Naour & Marj Al-Hamam and even Sahab belongs to GAM now


The government in the process of building cheap housing for those who have no property registered by their names and the promise is good finishing and cheap pricing as if rental, the biggest housing project in Al-Geza which around 120km from Amman which is bit more than the distance between Amman and Irbid.

Almost everything is changing in Amman but not the income; this makes the idea of immigrating to some of those countries that cries for more populations especially those educated ones feasible and at some point the right thing to do and of course this will backfire Jordan as many of its educated citizens are leaving for the sake of better life because they couldn't accomplish a thing while in Jordan.




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