31.03.2009 - Dubai prices to drop further

From Hurriyet.com: Dubai residential property prices, down 34 percent from their peak last year, are likely to fall a further 20 percent amid a decline in the emirate's population, EFG-Hermes Holding SAE said in a report. The number of people living in Dubai will fall 17 percent this year to 1.49 million, EFG-Hermes analysts said. The number working in construction may drop 30 percent as real estate and building projects are canceled or put on hold.....Full Article: Source

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