Dubai home sales fall 3.2% on cooling actions

Dubai

DUBAI home sales fell 3.2 per cent by value last year after the government took steps to slow soaring prices.

Home sales by value declined to 60 billion dirhams (S$21.8 billion) in 2014 from 62 billion dirhams in 2013, Dubai's Land Department said in a press release. Total real estate sales, including land and commercial property, dropped 7.6 per cent to 218 billion dirhams, the department said.