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Dubai property prices to fall another 20% this year, says poll
- United Arab Emirates: Monday, June 15 - 2009 at 13:59
Dubai house prices will fall another 20% this year, and have a less than 20% chance of picking up before 2011, according to a Reuters poll of ten analysts at banks, investment firms and research institutions. Three of the 10 forecasters said they expected prices to hit a bottom in the second half of 2009 and three predicted it would happen in the first half of 2010. One forecaster said prices would rise by 10% from now in 2010. Five analysts expected prices to fall a further 20% or more this year and prices could fall an additional 15% next year before stabilising in 2011, the poll showed.
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