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How will plunging oil prices affect Dubai's glittery real estate sector?
2014-12-21 19:52:35| Real Estate - Topix.net
The big threat to the market is that lower oil revenues in the Gulf could slash the amount of money available to buy Dubai property The plunge in oil prices may take more of the froth off Dubai's booming real estate market, but broad-based demand for property is likely to prevent any crash, said a report. As the global financial crisis slashed oil and equity prices in 2008, Dubai's real estate market began a collapse that roughly halved residential prices in 12 months and forced the restructuring of tens of billions of dollars of corporate debt.
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Category:Real Estate