Property in the UAE

The rate of decline in Dubai residential property prices slowed in the second quarter of this year with values falling some 9%, according to the latest analysis from real estate consultants Colliers International.

The figures have prompted some confidence in the industry with some experts breathing a sigh of relief and saying that it shows that the big summer property crash that many expected has not materialised.

A large number of people in the United Arab Emirates think that property prices are going to fall by another 20 to 30% this year.

Despite analysts, brokers and real estate agents reporting property price rises in some locations and various consultants predicting that the bottom of the market has been reached, potential buyers simply don’t seem to believe the hype.

Some 63.4% of people who took part in a poll organised by Arabian Business said they still expect prices to fall at least 20% and by as much as 30%. Just 5% think that the real estate market in the region has bottomed.