Quote:
Originally Posted by georgihh
Uk , Europe, Russia, Pakistan are more or less 50% of investors in Dubai
With their currencies losing as much as 20% by the end of the year expect big effect in the local market. On the other hand all those people if already bought will try sell and increase the profit by 20% from the rate exchange.
If the $ earns another 5-10% expect surprises in Dubai.
If I have a one bedroom in Greens I will sell it for 200k pounds and will by a nice detached house in Uk (maybe with a little more extra cash).
The dollar strength could be a big problem
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The dollar strength will definitely be a disincentive for foriegners to buy. The other problem is delays in project deliveries along with dodgy developers creating bad press. The current high prices along with future oversupply if units are delivered should mean slowing prices which is good news for a stable market