I would love to visit Dubai- there is something so decadent and self-indulgent about it, it would be something to experience.
But invest in property there? I don't think many wealthy will do so for investment purposes, more likely for the novelty. The bubble that we just experienced here would be like a small fracture as compared to the dirigible-sized bursting that Dubai will experience when the rush is over.
60% rise in property values a year?.....many here just learned the hard way that if it sounds too good to be true, it probably is.
Rising Temperatures in the Dubai Real Estate Market - How Hot Can it Get?
For the property investor seeking a lucrative return, a new market is always a risky one and the fear is that the market may collapse soon after it has taken off! With plenty of anecdotal evidence to suggest that property prices in Dubai are rising by as much as 60% in one year, it's tempting to rush straight in and grab a piece of the action. But the canny investors will have to consider if it is too much too fast.
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