Hmmm... I agree that prices are over inflated but even if prices drop 40 percent and villas drop from 7 million to a realistic price, who will be able to afford the average 1.5 million deposit for a villa or 700K for an apartment. maybe 30 percent deposit should have beeen introduced for non resident purchases and UAE residents reduced to a consevative 80/85 percent.
So when the banks have zero property sales in the following months,do you really think they will sit back and lose all that juicy sales commision!
As said laws come and go at a drop of a hat in the sandbox, lets see what surprises are in store for us next.
