Dubai property values rising fast – Experts agree, “this time is different”
- Published on Friday, 27 September 2013 05:02
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Regardless of what is happening around the world, Dubai economic fundamentals are sound say the experts. We would argue the opposite. What is driving money to Dubai are the problems in other parts of the world. Currency issues in emerging markets such as India, sanctions in Iran, uncertainty across the Middle East are all factors driving money to Dubai and inflating its markets. The fundamentals are not sound. Fundamentals go out the window when markets are rising fast.
In 2008, the experts in Dubai were insisting that the sub-prime problems were a US problem and in no way are going to affect Dubai. Dubai is different they said.