Dubai property prices rise 4%

[Fran]

Dubai property prices rise 4%

 

[TommyC]

Dubai property prices rise 4%

A combination of a lack of housing, fast-growing population and the ability of the government to support the emirate’s major developers with surplus funds made Abu Dhabi more stable in this more difficult economic period, a report on Nov 30 from Citigroup said.

Well, this invasion of low wage employees won't affect the high-cost market... And that's an invasion that HAS BEEN, not happening now. Most reports seems like old news, like it was before the summer etc. Currently, there are a lot of layoffs, layoffs that mean people have to leave UAE within 30 days (no further grace given according to other news).

What we probably will see is possibly an increase of people living in "labour-camps", which might just be the right thing to invest in. (20+ people living in the same container with basic A/C and shared toilet with 200+ others).

EDIT: As a sidenote, I must commend The National of their better coverage (than other newspapers in the area) of what is happening in the area. Especially the coverage on the Dubai real estate market and the PROBLEMS, not just positive reports that are already old!