I considered Dubai at one stage. The time to buy was 2-3 years ago when you picked up MASSIVE apartments for a song. Many have been re-sold for many times their original cost.
NOW? Well, from what I have heard from one
who was working down there, there is a great deal of overbuilding and you might find selling difficult at a later date.(Estate people skip over this one.) There HAS to be a saturation point. Just LOOK at all those blocks!
Many "locals" have bought apartments to rent out as investments, but I gather that they, themselves, are now turning to "developments" as living in stnd-alone houses bears a closer relationship to their traditional way of life.
Numerous building projects are up to a year behind due to labour problems according to two reports I've read.
As a holiday home that might be fine, but I wouldn’t like Dubai as a home, or for retirement. I don’t like the idea of the sprawling communal pool filled with youngsters, and the idea of having a good ocean view from your balcony fifty floors up might pall after a while. So what do you do? Visit your friends - and look out at the other tower blocks from THEIR balcony?
Schlepping around the malls might have appeal - but not for more than one day a week.
So for a break you get out of town .... Sadly, to my jaundiced eye, one sand dune looks very much like another.
And there is always that mild uncertainty about the Middle East where things develop suddenly - and quickly.