By the way, Richard is not your average investor. On page 2 of the article, we read this:
Richard Waryn has lived in Dubai for only two months but he already is certain that the glitz capital of the Mideast lives up to its go-go reputation. What he is not so sure about is whether to sink his money into the sleek apartment towers springing up everywhere.
With property prices up 40 percent this year - and critics warning that a slide is coming - other potential buyers are asking themselves the same question.
In the end, Waryn and his wife, Liz, a lawyer, opted to rent a 550-square-meter duplex penthouse with private pool and terraces overlooking the sea. The $100,000 annual rent seemed a better deal than buying an equivalent property for about $4 million, although he said they still may buy an investment property.He's got a bit of loose change lying around, it seems.