Property owners in Dubai have been increasing the asking price for their properties in the past two months and some areas have witnessed appreciation of 20 to 30 per cent in the past few weeks.
Reuters:
Dubai's property prices are expected to drop by another 20 percent as more projects come online, adding to an already flooded market where demand is dwindling, an executive at research firm Colliers International said.Bloomberg:
Dubai’s population is forecast to shrink 8% this year, UBS AG said.Me:
In 5 years, habitable real estate in Dubai will sell for 10% of what it was worth at the peak.
5 comments:
COOL BS meter! Seems to be working perfectly, too!
COOL BS meter!
I stole it from Dvorak, who stole it from someone else.
The dollar is becoming more worthless, and there has been a flood of dollars world wise.
I talked with a friend, owns two private jets, bidness all over the world. He's buying silos full of grain in Canada, taking physical delivery of gold.
There are very few properties changing hands except those that are cash between buyer and seller at huge discounts to peak prices, and prices are still falling fast. The article is silly.
COOL BS meter!
And I stole it from you. Already used it at the office! :-)
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