Property prices in Dubai to fall by further 20% predicts new report
A new report out from the Credit Suisse Group has predicted that property prices in Dubai may fall by a further 15-20% this year due to the increasing supply of real estate coming online throughout the Emirate. Recent months have seen a number of major property developments complete construction in Dubai, resulting in increased supply throughout the region.
Dubai based analyst, Ahmed Badr went on to say "We expect residential prices to decline by another 15-20% in Dubai as the oversupply gap peaks in 2011." Abu Dhabi is also expected to experience downward pricing pressure as new supply of property comes online over the next few months, resulting in a gradual narrowing of the gap in prices between the two emirates.
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