Landmark Advisory: Dubai flat prices to fall 20%
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Landmark Advisory: Dubai flat prices to fall 20%

Landmark Advisory: Dubai flat prices to fall 20%

Property consultancy Landmark Advisory has said that sale prices and rents for villas, apartments and offices in Dubai will continue to decline through Q1 2010 because of supply glut, with apartment prices likely to take the biggest hit and falling as much as 20% in the next 18 months, Reuters has reported. After increasing in Q3 last year, villa prices in Dubai stagnated with a marginal increase of 0.2% in the fourth quarter.

    Apartment prices fell 4.3% in Q4, which was similar to the 3% decline in Q3. Sale and leasing transactions in the office market remained low in the fourth quarter, with an average sale decline of 5.1% in prices, while average office rents declined 8.4%.
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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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