Dubai’s Property Market Collapse
This shows the degree of slowdown in Dubai’s massive property market. It further shows how highly leveraged many consumers are in Dubai and high degree of speculation in Dubai’s property market. In a blunt article by the New York Times, expatriates in Dubai are sharing ther fears about not only their property ownership (Freehold property), but also their futures in the city-state. Many are fleeing due to these fears. Other observations on the ground is that traffic is lower on key thoroughfares, a rare sight in Dubai.