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COMMENTARY Dubai Debt Crises May Hit Property Sector

Category: Real estate, Posted:01 Dec 2009 | 13:25 pm

In the here today, gone tomorrow world of breaking news the current Dubai credit crises is without a doubt stirring up the worlds financial markets. With many Middle Eastern powerful SWF (sovereign wealth funds) not intervening such as Abu Dhabi, Qater or the Emirates there remains much nervousness in Asia which has considerable exposure both in trade with Dubai and investments.
Property prices in Dubai has taken a serious hit and in many cases devaluations seen in the region of 40-50%. It's unclear if the crunch will be seen in isolation or create ripples abroad. Interestingly Spain which has an oversupply of 1 million residential units with many of these being holiday or vacation homes yet the impact was not seen on these shores.
Perhaps the most non tangible effect will be in pushing luxury and resort grade property purchasers to the sidelines who worry about not the property markets themselves but a lack of clarity on the impact to the global financial area. As seen from the GFC (global financial crises) sentiment can play often play a larger factor then reality and a small whisper on the continent next door can create a lion's roar on your very own doorstep.

Other News

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Direct International Flight For Koh Samui Coming

Category: Tourism, Posted:27 Jul 2021 | 11:29 am Koh Samui is set for the resumption of international flights from Singapore on the 1st of August. Under the Samui Plus program and expecting increased demand, Bangkok Airways is taking this first step for the direct overseas service. The initial stage is three flights a week on Monday, Thursday and Sunday. Meanwhile in the Phuket […]
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Thailand Property Takes Urban Flight As Lifestyle Takes Over

Category: Real estate, Posted:26 Jul 2021 | 06:00 am Thailand’s resort real estate markets have experienced a dramatic reset in buyer profiles over the past eighteen months of the pandemic. A strong wave of domestic demand has seen Thais flocking to the country’s leisure destinations and snapping up holiday or second homes. According to new data released by Thai property portal FazWaz, the popular […]
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Just Another Sunday – Catch-Up

Category: Tourism, Posted:25 Jul 2021 | 15:08 pm It’s a great day to catch up on last week’s video sessions. Check out a replay of the special Business Insider Thailand Resort Property online event.  We also talk to a leading Thai developer on rewriting the map in Northwest Phuket, where a second resort-styled CBD is emerging and finally more on the ongoing Sandbox. […]