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Dubai property prices seen falling this year

Declining currencies in Europe and falling oil prices add to pressure on home values

FACING HEADWINDS: India's implementation of a tax on overseas investments may be another drag on the Dubai market, Colliers says.


LIAM Jeffrey was surprised when a couple selling an apartment on Dubai's Palm Jumeirah artificial island asked the property broker to cut the price by 10 per cent just three weeks after they put it on the market.

"They found a property they wanted to buy in London and when