Dubai Forums Dubai Discussions Dubai General Chat

The global financial crisis has hit other parts of the world now it is reported in the press that
the global financial crisis has hit Dubai's key real estate sector very hard and it a lot more expensive to gain credit with the real estate sector prices dropping, it is reported that ex-pats are leaving with some just driving to the airport and just leaving their cars with the keys there and getting on the plane and going
Should I wait a year or two before I buy a new mansion ?

Are you crazy? Interest rates are so low now that you should buy a couple of mansions at least. Make sure you lie on your credit applications, and use a different bank for each one.

Then the banks will package up your debt into an attractive investment package and sell it to other institution, who will in turn repackage it and sell it as a AAA rated fund to mum's and dad's around the world. Everybody wins.

Thanks.......I think I will now buy a buy a couple of mansions,
should I also keep my car will serviced so I can drive to the airport ?