Dubai house prices surge by 31% in first half and rents by 11%, can this continue? « ArabianMoney

Dubai house prices surge by 31% in first half and rents by 11%, can this continue? « ArabianMoney:

"Estate agent Cluttons says that Dubai house prices surged by 31 per cent in the first half of 2013 and rents went up by an average of 11 per cent in the city. Prices fell by 50 per cent in the global financial crisis and remain 31 per cent off the peak of the boom.

Is this price spike sustainable? Normally this sort of price increase in any asset class would be seen as an unsustainable spike and an asset price bubble? Is Dubai different this time around?"

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