Free luxury homes in Dubai by August (possibly)
The Sunday Mirror reported last week that celebrities were losing an estimated £80,000 every week on their luxury Dubai properties.
The likes of Brad Pitt and Angelina Jolie, David and Victoria Beckham, Michael Schumacher and Michael Jackson (the latter pair not a couple, by the way) have all seen their multi-million pound property purchases halve in value since October.
England’s 2002 World Cup squad are amongst the worst hit as top stars including Beckham, Ashley Cole, Michael Owen, Joe Cole, David James, Paul Scholes, Wayne Bridge and Gary Neville all snapped up properties in the Palm Jumeirah development when the squad stopped off there on the way to Japan and Korea. Poor David Beckham will be hit hardest as he is already paying £2m out of his own pocket to subsidise his exit from LA Galaxy, and it just gives Cheryl Cole one more thing to worry about on top of Ashley’s wandering ways.
The footballers can gain same solace, though, from the fact that they are each still £800,000 up on their deals at the moment. The luxury villas were originally sold for £800,000 apiece, reached a peak value of £3.2m last year, and have now slumped back down to £1.6m.
After much calculation we can exclusively reveal that if the trend continues you will be eligible for your free luxury home in August!
Related posts:
- Lindsay Lohan follows David Beckham to Dubai
- Free zones and trade
- Free UAE dirham currency converter
- Roller coaster week for Dubai shares – better times ahead?
- Holidays and hotels in Dubai
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically to your feed reader.
There are scores of people losing money on property investments made in Dubai but then why is everyone crying foul. It's a free open market if prices can go up so can they down. This is the way market plays.