The activity of the housing market in Dubai remains low second quarter in a row, according to the online source Property Wire . Experts expect further market decline of real estate emirate because of the crisis in the euro zone and the uncertain US economic outlook. According to the latest According to the company CBRE for the third quarter of this year, the total number of residential real estate transactions amounted to 1459 compared with 2649 for the same period last year. According to the report, in the third quarter of 2011, rental rates for apartments and villas declined slightly. On average, rents for apartments fell by 1% compared with the previous quarter and year on year rate has fallen by about 19%. The demand for houses, especially the elite, continues to exceed demand for apartments. HomesOverseas.ru