Dubai's prime residential property prices fall in first half - Reuters:
Dubai prime residential property prices fell 1.9% in the first half of the year due to the market being oversupplied, real estate company Savills said.
The Middle East financial hub’s real estate market has steadily contracted since mid-2014 as foreign investor interest cooled.
Prime market prices declined 19.8% in the past five-years to $600 a square foot “due to high levels of new build stock and global economic uncertainty,” Savills said on Monday.
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