Monday, 22 June 2015

Dubai Property 2015 update

Dubai: The current decline in Dubai’s property values could extend to an up to 20 per cent drop from their 2014 peaks, but still far removed from the rock-bottom it touched during the 2009-11 crisis years. In 2009-11, values were off by more than 50 per cent of their mid-2008 peak.

Two macro factors would be at work to counter a sharper correction, S & P reckons. “Dubai’s economy, especially, is more diversified and less reliant on oil,’ it states.