Wednesday, 24 June 2015

Steep drop predicted for Dubai property prices

After three years of price increases, Dubai property may see its value slashed by up to a fifth – perhaps as soon as the first quarter of 2016, according to ratings agency Standard & Poor’s (S&P).

“After reaching a peak in 2014, the property market in the United Arab Emirates is set to soften in 2015 and early 2016. The market is facing a turnaround in operating conditions that [are]likely to dampen performance.”