Arab Today, arab today dubai among world’s worst performing property markets
Last Updated : GMT 14:02:48
Arab Today, arab today
Arab Today, arab today

Dubai among world’s worst performing property markets

Arab Today, arab today

Arab Today, arab today Dubai among world’s worst performing property markets

Dubai - Arabstoday

Dubai real estate was the 9 worst performing market in the world last year, according to  a new report by Knight Frank. However, the results of a survey of the 50 biggest property markets in the world also show the rate of decline in Dubai has began to slow. Ireland was named in the report as the worst performing real estate market, with house prices declining 12.9 percent in the twelve months to June 2011. Dubai showed a decline of 4.7 percent.The Global House Price Index report found prices fell 6.1 percent in 2010-11, showing the rate of decline has begun to slow.An analysis of prices for the first six months of the year showed prices have moved slightly into the black and grew 0.1 percent between January and June 2011. According to Knight Frank, Dubai prices have declined 49.7 percent overall since the peak in the third quarter of 2008. Top of the league was Hong Kong, with 26.5 percent annual growth, followed by India (21.3 percent), Taiwan (12.7 percent) and Estonia (10.6 percent). “Asia continues to be the top-performing continent in terms of house price inflation – a position it has held for seven consecutive quarters,” said Liam Bailey, head of residential research at Knight Frank. Last month, a survey of local analysts by Arabian Business found house prices in Dubai’s battered real estate market will slide a further 15 percent by the end of the year.The Gulf’s worst-performing real estate market over the last three years has seen rents and prices more than halve from their 2008-peak, but residential costs have further to go, analysts said. “Average sales rates are likely to be down around ten to fifteen percent, but this will vary by individual property,” said Matthew Green, head of research at consultancy CB Richard Ellis. Oversupply continues to be a key driver behind falling rents and prices, analysts said. Colliers calculated that around 13,000 units are due to come online by the year-end, followed by a further 27,000 properties in 2012. Dubai said in June it had cancelled 217 property projects as of May 31, following a review of more than 450 projects. The emirate said it expected a further 237 developments to be completed in due course. From / Arabian Business News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai among world’s worst performing property markets Arab Today, arab today dubai among world’s worst performing property markets

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai among world’s worst performing property markets Arab Today, arab today dubai among world’s worst performing property markets

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Ryanair's O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

Ryanair's O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday