According to a BOFA Merrill Lynch report Dubai’s population is set to double in the next decade or so. What does this mean for the investors who had a rough time in Dubai’s real estate bubble?
The report confirms the growing anecdotal evidence of the last year; rising rents, increasing traffic jams, tailgating on the Dubai-Abu Dhabi highway in peak hours, packed nightclubs and restaurants… all signs pointing to an accelerating recovery.
The Merrill Lynch report should bring a smile to everyone’s faces. A doubling of population will lead to severe pressure on the real estate stock and to an inevitable rise in prices. I wouldn’t be surprised if the heady peaks of 2007/08 are scaled in the next five years if not sooner.
Mark my words friends. Your troubles will be over sooner than you can imagine. If you can hang on a few more years, do so. If you have spare cash, put it into the real estate market. Faint heart never won a fair lady and risk averse investing never made money.
