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‘Dubai property slowdown due to tighter rules, not oil slump’


Dubai's tighter property rules aimed at preventing a housing bubble are the main cause of a slowdown in the emirate's real estate...


Dubai's tighter property rules aimed at preventing a housing bubble are the main cause of a slowdown in the emirate's real estate sector rather than a sustained drop in oil prices, industry experts said. Dubai has a low reliance on oil despite hydrocarbons providing three-quarters of the United Arab Emirates' consolidated revenue in 2014, according to credit agency Moody's. While housing prices are expected to drift lower this year, some experts said well-balanced supply and demand for properties should keep prices stable.

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Zawya, Gulf News, Gulf Business News, Global Post, The Fiscal Times


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