Tuesday, January 13, 2009
If you haven’t got an allowance you can’t rent!
Dubai prices have been driven up by obscene housing allowances bundled onto salaries which have helped fuel greedy landlord's rent rises. Hight house prices are fine if you are an investor and the rent is enormous. However, if money tightens and you can't give these huge allowances there arises a problem. Couple this with retrenchment of staff and low oil prices, investors trying to flee a market with no buyers and boy do you have a problem!