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House prices in Dubai fell dramatically
3:09 AM
Dubai house prices dipped in the second quarter of this year, a consultancy firm in UAE has reported. The global economic crisis has had a huge impact on the market. The firm, Colliers International, has announced that House Price Index in Dubai fell by almost 50% in the second quarter. The reasons are problems with financing, the insecurity of jobs, especially for expats, and lack of transparency as far as project delays are concerned. The average price for square meter of residential property is currently 2,783 dollars, the Gulf Times reports citing the paper. However, as the report forecasts, the prices should stabilize in a few month.
Saturday, 2012-05-19, 7:55 AM
