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FINANCIAL NEWS
Home prices in Dubai set for another year of decline
18 Jan 2017
(MENAFN) Dubai home prices are ready for another year of decline with supply surpassing demand even as developers delay the finishing of properties.
Accordingly, the country predicts to see a slight drop in values, which is in line with the drop in 2016, while apartment prices fell by 4.6 percent.
Furthermore, residential values in the country have been declining since the second quarter of 2014 as weak job growth and supply drives values and rents lower.
Recently, almost 70.000 homes are set for completion before the end of 2019, while only two thirds of those will be delivered to buyers in the time frame.
M
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