i came to Dubai 5 yrs ago & tht time onwards i have seen about 300% to 400% appreciation in the property rents which inturn affected the foodstuffs but to me it was too bad as my salary didnt soared accordingly. at the same time currency of india exchanged less than when i came here. all of these factors making dubai expensive place to live in. So, will PROPERTY BOOM cool down in near future & what will happen to UAE economy then? Will inflation cool down as well?? plz help.
2007-12-21 18:00:00 · 2 answers · asked by astala vista 2 in Business & Finance ➔ Renting & Real Estate
It's not likely to cool down soon. Their trying to transition from an oil based economy to a property and resort driven revenue model before their oil runs out in the next few decades. The gov needs to make money in a dry desert ;)
2007-12-21 18:08:04 · answer #1 · answered by Bumblebee 4 · 0⤊ 0⤋
It will go on like this for a long time.It's soaring in terms of cost as well.The property boom will remain for a very long period of time until this place turns out to be an Al Queda Operation Base.
2007-12-21 18:37:26 · answer #2 · answered by bikashroy9 7 · 0⤊ 0⤋