More Boom-and-Bust Seen in Dubai’s Cash-Driven Recovery

After five years living in Dubai, Akanksha Goel and her husband decided to buy a property instead of paying $68,000 a year to rent their three-bedroom house.

It never happened. Though Goel, the owner of a small advertising agency, and her cameraman husband, were prepared to pay 50 percent upfront, the couple was classified as “high-risk” because she’s self-employed. They were offered a mortgage for 30 percent of the home’s value at double the rate given to buyers with the best credit.