| Private residences stand on the East Fronds branch of the Palm Jumeirah artificial island, a Nakheel development, off the coast of Dubai on Wednesday. Real estate consultancy firm Jones Lang LaSalle said it expects average real estate prices in Dubai and Abu Dhabi to soften further in 2012 as more supply comes online, regional political instability continues and the European debt crisis deepens.
“2011 was a difficult year for real estate investors with most sectors of the market moving in the favour of tenants, with lower prices and rentals. While these trends appear likely to continue into 2012, the main trend is likely to be an increasing polarisation within each sector of the market,” said Alan Robertson, chief executive officer of Jones Lang LaSalle Mena...............................................Full Article: Source
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