Dubai to crack down on flipping further?

Dubai may crack down on flipping even further, the International Monetary Fund has suggested.

The emirate has raised fears of a property bubble thanks to its soaring house prices and booming demand. As a result, the government has already taken measures to cool the market, with mortgage caps and regulations to limit the sale of off-plan purchase for quick profits.

Now, though, there may be even further measures introduced to prevent speculative activity: "The Dubai authorities are completing a review of the off-plan transaction market, and will issue additional regulations, which could slow down real estate sector price growth, in the coming months."

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