30.01.2009 - UAE property 'will be hit by expat outflows'
From Tradearabia.com: Property market conditions in the United Arab Emirates will remain challenging this year and next with house prices in Dubai expected to fall further as foreign workers leave the emirate, UBS said. 'In our view expat-led population outflows in Dubai and flattish trends in Abu Dhabi will pressure house prices in the foreseeable future,' the bank said in a research note. A population decline of 8 percent in 2009 and 2 percent in 2010 may be conservative and accounting for potential payment defaults, would exacerbate Dubai's housing issues, it said..... Full Article: Source
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