[Pearls Before Swine]

The real question is, who would buy into such a market given the looming threat.

Not any foreigners. If my info is correct, they have, or are going to, institute an excise tax on foreign purchasers of some 15%.

Also, there was some talk in the summer of "imputed rent" taxes. That is where an owner of a property is assumed to benefit from the rental income it would cost to rent it--so it is added to his income and taxed. I don't believe that has been implemented.

[Snuph]

The Dims almost go that one passed here couple years ago. They backed off at the last minute.

[Cronos]

Dubai is really built on shifting sand. Once the oil revenues and property bubble fades...