Emirates on the ebb

[samsaf]

Worth Reading
FT.com / Comment / Analysis - Emirate on the ebb

 

[TommyC]

Interesting reading.

Bankers worry that the government remains in denial about the depth of its problems, given the slowdown facing its services economy and the closure of international financial markets. “Dubai is still just trying to market its way out of this huge hole,” says one.

 

[whiteknight]

Property worldwide is affected

Dubai is suffering just the same as Spain,Brazil, in fact all the other hotspots etc. Yes you have one or two localised areas that seem to be bucking the trend, such as domestic property in Natal area of Brazil but the market will not pick up as quickly as we want it to. Buyers are scarce and the property prices will continue to fall until some confidence is restored and the economic crisis is showing signs of turn around. If I was in the market for property investment, second home, holiday property I would wait, at least for 6 months. This will not please the real estate agents one bit but hey they have made millions and should be able to ride the storm.