Luxury property warning

The International Institute of Finance is warning GCC countries that there may not be enough tourists and speculators to make luxury property developments viable, the Times reports. The IIF notes high volatility in asset markets, and says the possibility of further falls in equity or real estate cannot be ruled out. It also criticised skill mismatches and unrealistic expectations of pay and conditions by GCC nationals for unemployment issues.
Courtesy http://www.ameinfo.com/