The dramatic up and down movement of property prices in Dubai is ridiculous but not surprising. Dubai is a transient city.People come and go.They are not encouraged to stay and build a life with visas and citizenships. Properties are not somewhere where families stay for years and build a life.They are just objects to be played with to make money.Even with an increasing population this won't change things and prices I fear will always change drastically. Dubais property market is still very very young and totally immature.
Also has anyone noticed increase in traffic and businesses opening in Dubai? I wonder how the freezones are faring. We've seen lots of innovative type businesses making a mover here. Is that just a tax thing?