UAE Ppty Seen Falling Further 15-20% Until Yr End -DB

Property prices in the United Arab Emirates will bottom out at the end of the year after falling a further 15-20%, Deutsche Bank said in report released Thursday.

"While we noticed some signs of stabilization recently, we remain cautious given the limited number of transactions and the continuing declining trend in rents," the report said.

"We identify risks of further weakness driven by the exodus of expatriates and new supply flowing into the market," it added.