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To restore the Dubai property market will need another five years

08.11.2011
Homesoverseas.ru editorial office
36
Recovery of Dubai real estate market should not expect the next five years, as the offer in the residential sector significantly prevails over demand, which contributes to further lower prices, according to the online source Property Wire . At present, the excess supply in the housing market in Dubai is 25%, according to the survey of experts conducted by Reuters. Housing prices will fall another 10% before stabilizing performance. AlembicHC Brokerage Company believes that to establish a balance between supply and demand would take at least three years, the bank's experts Rasmala Investment Bank said that prices will return to the level of 2008 no earlier than five to six years. In Abu Dhabi, the UAE capital, in the next quarter is expected to enter the market of 11 000 residential buildings. Housing prices will fall another 14%, bringing the total drop of 60% from the peak price level in 2008, reports Reuters. It is also expected to fall in rental rates to 14% this year and 10% next year. HomesOverseas.ru
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from 595 446 €
2 bedrooms
build area 103 sq. m
pool
sea/ocean view
air conditioning
furniture
seller: Royal Home Real Estate
460 990 €
1 bedroom
build area 120 sq. m
pool
household appliances
sea/ocean view
garage
seller: Royal Home Real Estate
from 390 000 €
1 bedroom
build area 42 sq. m
pool
household appliances
air conditioning
furniture
seller: Royal Home Real Estate