Dunno enough about Dubai, but Mongolia sounds good if I can find it on the map... ;-)
Btw one of the better meals I've had was in a Mongolian barbecue restaurant in Bergen.
Yummm. But not recommended for vegetarians... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
For short term stuff, other economies are looking better. Romania is bit of a star at the moment. The break in the political log-jam in Cyrpus has brought a rash of N Cypriot property onto the market.
I also sensed a lot of confidence from Turkish sellers as well. Last year everything was being sold on EU membership, but I think they've realised they've got a good product whatever (and they do on the south coast but Bodrum is massively oversold). EU membership is just a bonus. keep to the Fen Causeway
I think as energy costs rise, the sheer unsustainability of Dubai's rash of building is going to be a problem. Most of it isn't built to last and it really is AirCon Central....water isn't going to get any cheaper either.
I'm a fan of Northern Cyprus too, but the title situation is still problematic on much of it.
Wherever you can get mortgages you'll see property prices going up, of course. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Most of the N Cypriot stuff was new build on virgin land where compnsation costs would be marginal compared to the value of the property.
Still no old property coming up, but the idea is that, although title is a problem, there will be a rational solution to it cos they can't allow it to cause problems down-line.
. keep to the Fen Causeway
