Villas inside and out

What a difference a few years make. Dubai was one of the hottest property centres in the world but now, with over two hundred development projects cancelled or delayed, it has taken to looking like Spain.

And, why has this happened? According to a spokesman from Dubai's Real Estate Regulatory Authority, it is all down to speculators who pushed up the prices and then suffered when the economy turned bad. Apparently, even surveyors were in on the act giving over high valuations! Well, there is a surprise.

People who purchased in the pre-2008 boom period have been left nursing heavy losses from grossly inflated valuations.  Were they warned? For pity's sake how many more warnings do people need to avoid being sucked into the maelstrom of ready mortgages, special discounts and hurry, hurry sign up now.

Dubai was and is a great dream. It will come good in a few years because it has so much to offer. I just find it sad that so many innocent (or perhaps innocents abroad) have to suffer to get projects such as this moving.

Be the first to comment on this.