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Dubai house prices to fall 10% over next two years

According to a poll by Reuters, Dubai house prices, already nearly 60% off their peak, are set to drop another 10% over the next two years, as new units are released onto a market awash with supply. Prices in Dubai and Abu Dhabi are to fall 5% and 10% respectively in 2011, according to the poll, which was taken over the past week. The decline will continue in 2012 with prices in Dubai falling 4% and in Abu Dhabi by 5%.