ABSTRACT
History confirms that property markets are fundamentally, unavoidably and basically volatile. Booms and busts in international housing markets have occurred as a result of railway developments, economic and financial depressions, wars, gold rushes, oil crises, interest rates, investment waves, inflation and taxation (Bloch 1997). In recent years, globalization has affected cities in various different ways through the internationalization of labor markets, capital flows, information, raw materials, commodity markets and organizational structures management (McGreal et al. 2002). There are many aspects, such as technological capability, a highly trained workforce, and internationalized housing (Abdul-Aziz and Awil 2010).
