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Dubai property prices unlikely to dive despite oil slide
UAE government will continue to spend heavily from reserves, and the real estate market is less speculative than in 2008
Add BT as a preferred sourcePublished Sun, Dec 21, 2014 · 09:50 PM
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Dubai
THE plunge in oil prices may take more of the froth off Dubai's booming real estate market, but broad-based demand for property is likely to prevent any crash.
As the global financial crisis slashed oil and equity prices in 2008, Dubai's real estate market began a collapse that roughly halved residential prices in 12 months and forced the restructuring of tens of billions of dollars of corporate debt.
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