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Dubai property prices dip 9% in Q2, says report
- United Arab Emirates: Monday, August 03 - 2009 at 14:28
A new report by Colliers International has found that while housing prices continue to fall in the second quarter of this year in Dubai, the rate of decline has slowed dramatically. The report said housing prices in Dubai dropped 9% in Q2 of 2009, far lower than the 42% drop that was recorded in the emirate in first quarter of this year. The report also noted that at the end of Q2 2009 property prices in Dubai had returned to approximately the same level as those recorded in Q2 2007, and were down 50% from their peak in Q3 2008.
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