Home RSS
Real Estate

UAE property prices expected to fall further

Homes Overseas
UAE property prices expected to fall further - property market - Arabian Business - online poll - fall - property prices - UAE

Over 60% of people interviewed for a recent online poll believe that UAE property prices will fall by a further 20-30% this year.

A survey conducted by Arabian Business asked its readers whether they thought the property market had bottomed out, with only 5% believing it actually had.

Alternatively, a resounding 63.4% of people thought that prices still have a further 20-30% fall to come.

The worst price falls in the UAE have so far been recorded in the Dubai property market, where values have fallen by up to 50% over the past year, one of the greatest property price falls in the world.

The market in Dubai is mainly suffering from an oversupply of homes, a depreciating population, and growing unemployment levels, which is placing a downward pressure on residential prices.

The poll comes as a blow to the UAE property sector, following a rather more optimistic survey conducted by Dubai-based Shuaa Capital last month, which showed that 19% of investors believed that the market had already hit the bottom.


Add your comment
  Anonymous comment
  Remember me on this computer

Send me by email any answer to my comment
Send me by email every new comment to this article

Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.