Started fudding Dubai real estate. This market has been in a bubble for so long that all the property owners have 0 conviction and buy stuff off-plan to flip for profit and/or make “passive income”. Making panicked posts on the relevant subreddits, offering 10% of the listing price on all listed properties, and making TikToks about how money is flowing out of the market and all the real estate developers are insolvent. Sellers expecting NYC prices need to adjust their benchmark to Baghdad.

Having money locked up in an off-plan Dubai property in 2026 is like having money locked up in an off-plan Hiroshima property in 1944