Property prices in Dubai could fall by as much as 10% this year as a strong dollar and falling oil prices continue to weigh on demand for homes in the popular tourist destination.
Dubai’s real estate prices tumbled by around 13% on average in 2015 and Standard & Poor’s, one of the big three credit rating agencies, has predicted it is on track for another double-digit drop this year with investors plagued by macroeconomic pressures. It believes the wider UAE will also experience price falls.
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