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Dubai property prices fall 8%
- United Arab Emirates: Tuesday, January 13 - 2009 at 07:42
Prices of residential property in Dubai fell 8% in the fourth quarter of last year, according to a report by Colliers International. The report said the average price of 14 developments in the fourth quarter was Dhs1,770 ($481) per square foot, down from Dhs1,919 per sq ft in the third quarter. The number of sales in the fourth quarter also dropped 45%, the report added.
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