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‘Dubai property correction expected to continue into 2016’


Dubai house prices fell in the two months to the end of August as the city’s property correction continued. According...


Dubai house prices fell in the two months to the end of August as the city’s property correction continued. According to new figures from broker CBRE, average house prices in Dubai dropped by another 2 per cent during the period, equating to a 6 per cent fall compared with the same period a year earlier. The figures came out on the eve of Dubai’s annual Cityscape Global property exhibition and follow after various reports, each of which made attempts to chart the city’s real estate slowdown. These include statistics published by rival broker Knight Frank last week showing that the Dubai residential property market was one of the worst-performing in the world in the second quarter of the year with greater price slumps than Greece, China and Ukraine.

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The National, Gulf News, Trade Arabia, Arabian Business


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