Its not only Spain

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This topic contains 8 replies, has 8 voices, and was last updated by Profile photo of Anonymous Anonymous 7 years, 6 months ago.

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  • #55025
    Profile photo of Anonymous
    Anonymous
    Participant
  • #92345
    Profile photo of Anonymous
    Anonymous
    Participant

    @gnik wrote:

    More property woe, this time its Dubai.

    http://www.independent.co.uk/news/world/middle-east/dubai-property-scandal-claim-emerges-amid-media-blackout-1691537.html

    Dubai will be a subject of study for next generations as the best example of greed, stupidity and ignorance.

  • #92348
    Profile photo of Inez
    Inez
    Participant

    And if you think the Spanish legal system is odd, the rulers in Dubai can change any law at a stroke without any recourse for the shafted ones!

  • #92351
    Profile photo of Anonymous
    Anonymous
    Participant

    Yes, but lets give them credit. They have not put their money into weapons; instead invested in amazing infrastructure. Unlike some other countries in the area.

  • #92357
    Profile photo of Anonymous
    Anonymous
    Participant

    I read earlier this week that Dubai property prices slumped 40% in the first quarter of this year alone.

    Whilst it sounds horrible (and no doubt is) for some investors. You can bet that their slump will not last five years.

  • #92359
    Profile photo of Anonymous
    Anonymous
    Participant

    @brianc_li wrote:

    I read earlier this week that Dubai property prices slumped 40% in the first quarter of this year alone.

    Whilst it sounds horrible (and no doubt is) for some investors. You can bet that their slump will not last five years.

    No it could last forever. Why would anyone want to buy in a country as Inez says can shaft you as they like.

  • #92363
    Profile photo of katy
    katy
    Spectator

    I know someone who recently returned from Dubai. Been trying to sell for over a year, he says the place is crumbling, lots of empty unsold blocks and empty blocks that were bought for investment. I hated the place, some great shopping malls but the prices are higher than London…and the price of drinks 😯

  • #92364
    Profile photo of Anonymous
    Anonymous
    Participant

    @brianc_li wrote:

    I read earlier this week that Dubai property prices slumped 40% in the first quarter of this year alone.

    Whilst it sounds horrible (and no doubt is) for some investors. You can bet that their slump will not last five years.

    The nature will take over the human greed in Dubai. There won’t be a slump there, just a return to the normal desert-empty conditions, with some sunken islands.

  • #92395
    Profile photo of Anonymous
    Anonymous
    Participant

    “And if you think the Spanish legal system is odd, the rulers in Dubai can change any law at a stroke without any recourse for the shafted ones!”

    Its not a Democracy or a member of EU. The Country does not have a legal system as we in the West understand or led to believe. Whatever the Sheikh says goes.

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