Dubai sees slackening in property value gains | GulfNews.com:
"Even before the strong market intervention — first by the Dubai Land Department (DLD) in late September and later by the UAE Central Bank — the pace of growth in Dubai’s residential property values dropped significantly during the third quarter.
In its latest update, the real estate consultancy Cluttons pegged the average capital value gains in Dubai at 8 per cent compared with the turbo-charged 23 per cent of the second quarter. Even rental value gains seem to have cooled off — Cluttons estimates this at 3 per cent between July to September against the average of 8.2 per cent in the second quarter.
To put matters in perspective, current values in Dubai post the third quarter are 25.7 per cent below the Q3-2008 market peak, 47.6 per cent above the bottom of the market in Q2-2009 and 52.3 per cent higher than same time last year."
'via Blog this'
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