I bought 3 years ago in the UAE and have done very well. I did the same again 2 years later and then again a year ago. No regrets at all. More than made up for the declining Dirham!
Each time there was the doom and gloom brigade with all the arguments seen on this thread. Yes there were hiccups but with a little foot stamping they were fixed or compensated. The legal system may be flawed but business pressures and the authorities seem to keep a check on most banditry.
In one place the woodwork was shocking. I rejected it and they simply redid it without a murmur and got it right. A little inconvenient but they learn.
Check out the plans for Dubai, Abu Dhabi and RAK. Look at the expansion projections. I think there is still fat left in the market. We shall see.
Having been here a while I generally find the nay-sayers are those who feel they have missed the property market and have to justify their reasons for not entering it now or in the first place.