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Dubai home costs to fall more

Posted on 04 January 2012

The Arab Spring of 2011 brought an influx of visitors to Dubai and boosted demand for real estate in the emirate, but industry experts warn that the global economic slowdown and an oversupply of property will drive residential prices lower for years to come.
“Although the Dubai real-estate market saw some signs of stability in 2011, and in some premium locations prices rose slightly, on the whole prices are seen further softening over the next five years or more as the global economic decline continues and more units come online,” says Ronald Hinchey, head of professional services at property consultants Cluttons Dubai………………………………………..Full Article: Source


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