Hello, I also bought in The Pearl. My advice is - don't panic! There are so many people with negative views out there. These are usually the same people who have positive views when the garden is rosy and the good times are rolling. It's easy to be optimistic in boom times, and pessimistic in recession times. The winners see opportunity in recessions but the losers panic and sell at a huge loss. If you can, hold on to your property if you can't sell it for a good price. Yes the contract has a lot of things which favour the developer but didn't you read your contract before signing it? I went to see the rental lady yesterday and she has a waiting list for people wanting properties there, and is currently successfully renting out 1 bedroom semi-furnished apartments for 14,500 a month in Tower 4. Even if I got half that I would have done far better than if I had invested in UK property. Sit tight if you can, I don't know what your mortgage repayments are but presumably you cab pay them, especially if you let the apartment?
Hello, I also bought in The Pearl. My advice is - don't panic! There are so many people with negative views out there. These are usually the same people who have positive views when the garden is rosy and the good times are rolling. It's easy to be optimistic in boom times, and pessimistic in recession times. The winners see opportunity in recessions but the losers panic and sell at a huge loss. If you can, hold on to your property if you can't sell it for a good price. Yes the contract has a lot of things which favour the developer but didn't you read your contract before signing it? I went to see the rental lady yesterday and she has a waiting list for people wanting properties there, and is currently successfully renting out 1 bedroom semi-furnished apartments for 14,500 a month in Tower 4. Even if I got half that I would have done far better than if I had invested in UK property. Sit tight if you can, I don't know what your mortgage repayments are but presumably you cab pay them, especially if you let the apartment?