Dubai Sheikh Ahmed Sees Steps to Limit Property Price Increases - Bloomberg:
"Dubai’s leadership is concerned that rising property prices could make the emirate “too expensive” and it will consider steps to limit increases, said the chairman of the city’s Supreme Fiscal Committee.
“I hope it holds at this level as I don’t want to see high inflation, to keep Dubai as an attractive place to do business,” Sheikh Ahmed bin Saeed Al Maktoum told reporters today. The real estate market “is getting expensive in certain areas. We are focused on what we can do to not see it get too expensive.”
The sheikh’s comments come after home-price increases slowed significantly in the second quarter after government and financial authorities moved to cool the market last year. Property values rose 3 percent from the first quarter, down from 6 percent in the previous three months."
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