Arab Today, arab today dubai residents house prices to fall up to 20
Last Updated : GMT 00:38:43
Arab Today, arab today
Arab Today, arab today

Dubai residents: house prices to fall up to 20%

Arab Today, arab today

Arab Today, arab today Dubai residents: house prices to fall up to 20%

Dubai - Arabstoday

House prices in Dubai will fall up to 20 percent by the end of the year, readers in an Arabian Business poll have said, a steeper decline than that pegged by property analysts in the emirate.Some 38 percent of respondents said the Gulf’s worst performing real estate market would see a 20 percent slide in prices, a deeper rout than the 15 percent forecast by analysts this month. A further 37 percent of the 350 readers polled said residential prices were still in decline, but put the expected drop at 15 percent, with 11 percent believe house prices had hit bottom. Fourteen percent of respondents, however, said house prices had flatlined and the Dubai market would show signs of recovery by the year-end. Rents and prices in Dubai\'s once-booming property market have been in a free-fall over the last few years, pummelled by the global financial crisis and the emirate’s own debt crisis. Residential property prices in Dubai, which boasts of the world\'s tallest building and man-made islands in the shape of palms, have fallen some 60 percent from their peak. House prices in the city are expected to be further squeezed by a glut in supply, with Jones Lang LaSalle reporting a further 18,000 new homes will hit Dubai\'s saturated market by the year-end. State-backed developer Nakheel, one of the biggest casualties of the real estate crash, said last week it planned to handover 7,982 homes in Dubai by December 2012. “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. Lower-tier properties are likely to be worst hit by an estimated 10 to 15 percent fall in rents, said Ian Albert, regional director Middle East at Colliers International. 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”. Dahi Khalfan Tamim, Dubai’s chief of police and head of the country’s budget committee, earlier this month urged Dubai to slow down the pace of its real estate development. “Dubai shouldn’t expand its real-estate sector as it did in the past,” Khalfan said. ‘‘We should slow activity, and there should be a ceiling.’’ From / Arabian Business news

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 residents house prices to fall up to 20 Arab Today, arab today dubai residents house prices to fall up to 20

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Dalia Mustafa believes in the presence of ghosts

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 15:42 2017 Saturday ,18 March

HTC U Play now available in KSA

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
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