The quite a bit of building at this time there inevitably
raises questions about oversupply, but seemingly up to now demand has
outstripped offer.
Price growth in certain parts of Dubai have been reported to
end up being an almost fantastic 79% in 2007, that is together with already
impressive growth figures in the previous years. High development is continuing
throughout 2008.
Now in mid-2008 the federal government is stepping in to to
regulate off-plan buying, mortgages and are implementing an entire raft of
measures to cool industry. These are likely to do the job they are designed to
do.
Like a few of the buildings in Dubai the house market has
did actually defy gravity. With high prices and more heavy government
intervention I would be even more cautious about investing in Dubai than For a
nice and in the last couple of years. It remains to become seen where the
actual Dubai property marketplace will head next and if the Dubai government
can definitely use their oil money to show a patch connected with desert into
one of several world's true commercial and financial centers.
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