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Property prices to fall 5%
- United Arab Emirates: Monday, November 06 - 2006 at 07:07
Dubai property prices and rents will peak early 2007, but ease by 5% later as more units reach the market, according to Standard Chartered Bank. The bank highlighted a Prime Group report that 52,000 new residential units will come onto the market next year, with a further 63,000 in 2008. The bank's residential property index shows prices rose 18.8% in 2006 until the end of October.
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James McInerney, News EditorMonday, November 06 - 2006 at 07:07 UAE local time (GMT+4)
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This article was updated on Tue Nov 21 2006.
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