Lore magazine, in their March/April issue, had a very interesting article on Dubai, where construction is setting all kinds of records. The median home price there is $800,000 to $1.5 Million, and a beachfront villa goes for $10+ million. Average time on market is 2-3 weeks for a villa; apartments take 4-6 weeks.
RE/MAX has an office in Dubai, where Ali Al-Taher is the broker/owner of RE/MAX Associates Dubai.
Many agents have reacted to a slow market by leaving the business or taking a job with a steady income. One of the young agents in our office saw an opportunity and responded to it - he moved to Dubai, without any promise of employment. Once there he was offered a sales position with a multi-national development company, happily accepted the great opportunity, and is moving to Kuwait, where he will be headquartered, a place he's never been. In every market there is an opportunity. We just have to find it.
Be passionate. Find opportunity and seize it.
One of my agent friends is off to Iraq as a civilian employee (not real estate related). Reminds me of that saying, "A man's gotta do what a man's gotta do."
Best wishes to your friend, my friend, and all the agents moving in different directions.
What an exciting opportunity for this agent! You are right Sharon, there is opportunity in every market, we just have to be open and receptive to new ideas. Obviously, moving to Dubai wouldn't be right for a wife and mother of two. My eyes and ears are still open - never know what I might stumble upon.
Missy - in terms of Remax International - I was really surprised that at this year's conference some 30% of the attendees were from outside North America!
Bill - yes, it is. Joel Kantor, the developer of Signature Place here in St. Petersburg, was in Dubai with his wife and his sales manager, looking for garden setting ideas for his condo.
Vickie - I'm glad you'll be taking the CIPS class. It's eye-opening, and I love working with international clients. "Our" Dubai agent sends us updates of what's happening - a journal of his experiences.
ARDELL - I don't envy the civilian employees in Iraq any more than our military there. But, yes, we have to do what we have to do.
Debbie - that's called taking advantage of what you can. Some here have gone into rentals and property management, establishing relationships for when they're ready to buy.
Pretty brave to uproot and move.
Side note. I have read so much about Dubai lately that I just look at it as the next "pump and dump" By the time the little guy hears about it, it's ready for the dump part. JMHO, of course. :)
Chris - so are you going to go over to Dubai and check it out? When the cab drivers and hairdressers move to Dubai we know it's over....
William - I hear there's a country called California ...
Patricia - unfortunately, the key to moving (or to buying a stock) is to do it BEFORE it becomes hot!
Dubai is located in the United Arab Emirates and is not only one of the world's fastest growing cities, but is also an epicenter for employment and new job opportunities.
www.bayut.com
Dubai is an attractive city to live and to work there.
There is an abundance of job opportunities for those young professionals who want to make their career in tourism, IT, media and finance sector of Dubai............
http://www.arcusproperties.com/