Dubai residential price correction is ‘now under way’ | The National:
"Property brokers are warning that villa prices in Dubai could be starting to fall as new mortgage caps subdue the market for multi-million-dirham homes and as hundreds of new family houses are built across the city.
They say that new laws, which came into effect at the end of December, are making many potential buyers think again, subduing prices for villas in the city at a time when scores more are being built.
According to research from the property consultancy Phidar Advisory, prices for single-family homes in Dubai rose steadily over the first half of the year, but provisional figures for the six weeks to August 15 showed that they fell 4 per cent."
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