Monday 11 June 2012

Downward property spiral is over in Dubai - The National

Dubai's property market appears to be on the recovery path. Prices registered their first quarterly improvement at the beginning of this year since the price correction that started in the second half of 2008.

The increase was supported by a return of investors' confidence and a gradual increase in economic activity resulting from improved trade and tourism.

However, average property prices still stand 64 per cent lower than they were at the peak of average prices in Dubai in September 2008.

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