Can Dubai learn from the Hong Kong property boom?

Afinelita

I think it is better to compare HK and Singapore, but not Dubai. Dubai is unique.

Realistics

Unfortunately Dubai developers and authorities think they have the truth and will never learn from anybody. Facts are that the trust in Dubai and UAE RE market is down and will never recover. Business is about trust and there is nothing in Dubai RE that encourages that. No laws, no transparency and no accountability for developers. Then you have the other facts, over charging for low quality services, no HOA and complete volatile RERA decisions. So what to expect from that? overheat? forget it. Some speculators are playing and they are cash buyers, so what is the big fuzz?

Nicholas

Hong Kong is anchored to China, and the real estate prices is driven by an exodus of wealthy investors from the Mainland. Demands are real, not artificial. It doesn't need to construct world-wonder or white elephants to inflate property prices.

Andy

I agree. Dubai and Hong Kong can not be compared. Anyone who thinks they are comparable does not know Hong Kong and Dubai well. Hong Kong has a huge local population which fuels demand and the demand is even bigger out of China. The Chinese do not need to pay ridiculous visa fees to reside in Hong Kong like non-locals need to pay in Dubai for Visas and Residency Fees. The Chinese also do not need to pay outrageous community fees like DEWA in Dubai for property in Hong Kong.

Dubai can become partially like Hong Kong but only when they revise their local laws and they have a long ways to go with that. The Laws of Hong Kong are nothing near of what they are in Dubai.

Lee

What rubbish how can you even begin to compare the two. Hong Kong doesn't need to have its prices artificially bumped up like Dubai does through restriction of supply. Whilst it is clear that there is some return to life in dubai, If there was such a strong demand why are all the cancelled and suspended projects not rapidly springing back to life? Another case of a hapless estate agent trying to bump up Dubai property market!

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