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Dubai property prices to fall further, says report
- United Arab Emirates: Wednesday, October 14 - 2009 at 13:03
A new report by Colliers International says property prices in Dubai are likely to drop further. Of 28 real-estate developers surveyed in the report, only 25% said prices have bottomed out. 'Prices will only level out once the demand exceeds supply... but a further reduction in prices by 20% in the residential sector is not unrealistic,' said JP Grobbelaar, director of research and advisory at Colliers.
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StaffWednesday, October 14 - 2009 at 13:03 UAE local time (GMT+4)
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