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Crazy scenes to buy apartments in the new Emaar development - would be nice if they finished others first though!

http://www.thenational.ae/thenationalco ... han-bieber

Hm... That's interesting and probably good news.

That is good news but regulators need to watch out what caused the bubble last time. Buying whole property at fraction of payment, it is riba in Islamic finance, although most people would have no clue about this. It is same has high financial leverage in conventional finance, and it can cause bubbles. Margin trading causes bubbles in securities markets all the time which is banned now on DFM and ADX. I think it is limited in US stock market too after the financial crash.

Right now they have sold it at discounted market price, but later price bubble can happen again due to financial leverage coming from payment plans.

Ah yes the infamous 'fipping' that caused all the issues last time. Don't they have new rules now though, that you have to have paid a certain % before you can sell an off-plan or any property?

Emaar had 30% rule before then people started to sell by power of attorney