1 Answer

Ken Tan
Dubai's decision to diversify from a trade-based, oil-reliant economy to one that is service and tourism-oriented made property more valuable, resulting in the property appreciation from 2004–2006.

Dubai's property market experienced a major downturn in 2008 and 2009 as a result of the slowing economic climate.

To reinforce what Keith said, judge the country based on it's government as well as it's policies. It is not really substantial to say that dubai's property crash due to the sudden increase in new construction of properties. There much more factors at play.

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