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Warren Buffett Buys the Slump on Dubai’s Plummeting Property Market

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By CCN.com: Billionaire investor Warren Buffett has announced plans to enter Dubai’s real estate market. His company, Berkshire Hathaway, is surprisingly eyeing an expansion into Dubai at a time when the region’s real estate market is slumping. Boom and Bust Cycles Ever since the oil slump of 2014, Dubai’s economy never fully recovered. Prices have reportedly fallen by 25% in recent years and remain sluggish. Their main driving force, expatriates, started leaving the country in search of greener pastures as businesses closed shop. The gap they left in the real estate market caused values to decrease significantly. Worse, 31,500 homes

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* First published on ccn.com

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