Hi John

According to me, that has always been the case with the local investors / buyers in Dubai. I feel that almost the entire property market in Dubai is being driven by foreign investors. But hardly any of the expats living out there have bought anything for their own use.

My uncle lives in Dubai, and he's been living there for the last 30 years. Even he's not bought anything there. When I ask him why, he says that he does not really trust the government enough to pump in so much money and ensure that it stays secure. One of the biggest fears that expats have in Dubai is the visa.

Since visa's are renewable every 3 years, there is no guarantee that you get a visa! Of course, it's unlikely that they will turn around that just kick you out, but it can happen! A lot has to do with the confidence in the laws and regulations more than anything else.

Lastly, future values are something else to go by. Ok, so far, everything has been hunky in Dubai, but that may not be the case in the future. As far as I'm aware, there are no proper surveying procedures or valuation methods that ensure what a property is worth, unlike the UK where you have RICS certified bodies.

All said, if you're gonna be there for 5-10 years and can afford to buy, I think you should take the plunge!!

Just my 2p!!

Good luck!!