PPRuNe Forums - View Single Post - Life in Dubai - A well written piece from the Gulf News
Old 4th Jun 2006, 08:07
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Chimbu chuckles

Grandpa Aerotart
 
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If you're interested in an opinion from someone who is in and out of DXB regularly over the last several years, but doesn't live there and is therefore disspasionate?

Dubai is a house of cards set to collapse...like the recent stock market 'correction'.

Manic construction of high end expat style accom and equally manic lack of traffic infrastructure coupled with, as quoted in the Gulf News, 40-60% of respondants downsizing, going home, sending families home etc, means a bubble set to burst BIG TIME.

I would suggest it won't be long before supply exceeds demand by such a large margin that it will reverberate right across the banking sector with huge loan defaults etc. It'll make the 40% fall in the stock market look pale by comparison. You'll be able to dictate how much you pay in rent. To purchase property there is just lunacy.

The only way this won't happen is for the expat population in DXB to double in the next few years...that WILL NOT happen.

Expect to see a lot of deserted building sites with unfinished monuments to greed dotting the landscape...not a good look.
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