My villa is now going to 250,000 AED annually. That is a lot of money and for that money if I was in London or NY I would be living large. But in Dubai I have only 3 bedrooms and less space I had back home. Also I am lucky to have a 5X5 patch of grass and a tiny little space for an outdoor table which I can use 4-5 months of the year. Such a baragin!
Many ex-pats have already called it quits and many more to come because it just is not worth it anymore. The inflation is worse than the falling dollar but both bad. I have the the distinct feeling that it is nothing more than greed because even the products from dollar pegged countries have more than doubled. Why? There is no currency fluctuations there, why do they have to raise so much?
250,000 for a villa, just a crime and we accept it!