Dubai house prices fell by 24 per cent in the second quarter from the prior quarter but the pace of decline slowed, in line with improving global property markets.
Dubai’s once-booming real estate sector has been hit hard by the global financial crisis, but the pick up in more mature markets such as the US and Britain, is starting to cheer investors.
The average sale price for villas in Dubai fell 24 per cent while apartments declined 17 per cent.
Rents for villas in Dubai fell 19 per cent to 220,350 dirhams in the second quarter, while apartment rents dropped 23 per cent to 129,900 dirhams.
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