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Riding the Dubai property roller coaster
For over a decade, volatile prices have been creating and wiping out fortunes but seem to be fizzling out recently
Dubai's Jumeirah Beach Residence. The residential market is driven by overseas demand which has fallen as currencies weakened against the US dollar to which the UAE dirham is pegged, pushing up prices.
PHOTO: AFP
Dubai
FOR more than 10 years Dubai property prices have been on a roller coaster, creating and wiping out fortunes, but recently they appear to have run out of steam.
The Gulf emirate shot to prominence as an attractive real estate market after opening up special freehold zones for
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