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Dubai ready for drop in home prices
Analysts expect prices to fall by as much as 20%; oversupply, lower oil prices, weaker currencies in Europe and Russia cited for slide
Add BT as a preferred sourcePublished Thu, Jun 25, 2015 · 09:50 PM
Dubai
FACED with predictions that Dubai home prices may drop as much as 20 per cent this year, analysts say the emirate's real estate developers and lenders are better prepared than when a crash in 2008 brought the city to the brink of bankruptcy.
Standard & Poor's this week estimated that values may fall by as much as a fifth this year, while brokers CBRE Group and JLL see a 10 per cent decline.
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