Report: Dubai property prices relatively stable

06 Apr 2010

(MENAFN) A report issued by Landmark Advisory showed that prices of villas and commercial property in Dubai have remained relatively stable despite an increase in supply, prices of apartments, Khaleej Times reported.

However, despite stable sales price ranges for apartments, lower limits are starting to decrease in certain areas like The Greens, Jumeirah Village and Jumeirah Lake Towers, Landmark said.

Sale prices of commercial properties have remained stable but actual transactions are suffering. Despite increasing inquiries from investors and corporate, actual transactions are low due to widely divergent price expectations from buyers and sellers, the report said.

It is noteworthy that real estate prices in Dubai have plunged 50 percent since their peak in 2008 in the wake of a global downturn.

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