Dubai property prices continue fall
Gulf News
Property prices in Dubai could fall about 20 per cent on average, the chairman of the emirate's largest developer, Emaar Properties, said in remarks published on on Monday. He did not give a timeframe.The National(Jan. 21): HSBC report confirms Dubai property decline
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Asked about views that real estate prices could fall as much as 60 per cent, Al Abbar told Al Khaleej newspaper: "In my opinion a decline of 60 per cent is illogical. There will be a variation in the percentage of decline based on the location and level of units."
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Property prices in the emirate fell 23 per cent in the last quarter of 2008, HSBC said last week.
Labels: Emaar
posted by John B. Chilton at 1/27/2009 07:56:00 PM
2 Comments:
Property price rates are determined by sales. The real question in Dubai is What is selling and after how many days (months) on the market?
I know a few RE agents who went from 50 closings a month to 3 or 4 since November.
I meant to say... prices are one thing, actual sales are another...
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