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Dubai apartment prices under oversupply pressure

According to data compiled by the property firm Asteco, sale prices in Dubai's Discovery Gardens fell 10% in the third quarter, compared with the previous quarter as thousands of new apartments entered the market, The National has reported. "The sheer volume of property put into the market in the last few months must impact the market," said Elaine Jones, chief executive of Asteco. "It's basic supply and demand."