Dubai’s embattled real estate market is showing signs of stability amid a global stall in the growth of house prices, real estate consultancy Knight Frank said.
The Gulf’s worst-performing property market in the last three years has seen house prices rise 2.1 percent since October, with a modest 0.6 percent increase in the first quarter.
By comparison, global house prices rose just 1.8 percent in the year to March, the lowest annual rate of growth recorded since the last quarter of 2009, the consultancy said.
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