Tuesday, September 06, 2005

Early warning?

Bloomberg this week published an interesting article wondering whether the boom in Dubai is overstretching itself.
The article has many factual errors, (Sheikh Mo as ruler, Emirates flying to Tokyo etc) but to be honest I agree wholeheartedly with the sentiment. The cost of living is quoted as rising by 10% but that is an overall figure, I believe that the reality is higher still than that, with the possibility of sales tax on the way this city could be pricing itself out of the market.
One predictions is of falling incomes from rental property, now that I do want to see.
DW