There are rumblings of a Dubai real estate bubble of late.
You may or may not have heard at this point about the speculation of another property bubble poised envelop real estate developments in Dubai. There are a few hard statistics surrounding the fact: housing prices leapt upwards of 20%, and rents increased around 17%. Even though prices aren’t expected to reach the incredible highs that they did last year, some have perceived their continued rise as a cause for concern, warning that the economy is still recovering from the disaster that was 2009.
But not all are seeing Dubai’s real estate situation as a red flag. Rory Jones of the Wall Street Journal reports, that JLL is arguing that Dubai, in fact, is not facing an inevitable bubble. JLL admits that while, the immense price jumps are unsustainable, investors won’t be so quick to make the same…
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