07 Nov 2010
(MENAFN) Property consultancy firm, Colliers International, said that Dubai home prices dropped by 6 percent during the July-September period of the current year, compared to the same period a year earlier, reaching their lowest level since the second quarter of 2009, Reuters reported.
After a period of stable prices, Dubai is beginning to witness a shallow but lengthening slide in overall average prices, said the firm.
Apartment prices dropped 7 percent in the July-September period compared to the previous April-June period of the same year, villa prices declined 5 percent while townhouse values fell 8 percent, Colliers said.
The property consultancy firm expects around 33,000 new homes to be delivered to the market by the end of 2010, down from its previous estimate of 41,000.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more