Marc #100 -

Its called "flipping" , i.e. quick sales by RE speculators who have no intention to occupy the unit. Was one of the root causes of the US real estate bubble that burst last year.

During 2005-06, everyone from the cabbie to the hair-stylist to the granny (and even the pet poodle) got into RE, became "realtors" and started buying/selling like nobody's business. No wonder the banks, mortgage brokers lent crazy sums to all these irresponsible people. They wanted the business!!

That much froth tells you its time to get out. Dubai is likely headed in the same direction. Wait and see till mid-2009.