Dubai property investment could follow as prices continue to fall

18/08/2011 - Dubai Property News Posted by Neil King
Dubai property investment could follow as prices continue to fall

People looking at Dubai property investment could be interested in the findings of one company, which predicts house prices to fall in the emirate by 15 per cent come the end of the year.A poll for Arabian Business estimates that the real estate market in Dubai will fall by double-digit figures by the end of this year, suggesting that property could become more affordable.The news provider reports that the Gulf's real estate market has fallen to more than half of its 2008 peak, with oversupply thought to be a key driver in this.Matthew Green, head of research at CB Richard Ellis, said that though it will not be the same for every property, he expects a big fall."Average sales rates are likely to be down around ten to fifteen per cent, but this will vary by individual property," he explained.It comes after figures from Alittihad found that Abu Dhabi's economy is seeing a boost, with higher earnings for 50 companies in the region.