Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Monday, October 6, 2008

Home prices in Dubai seen flat till 2010

Home prices in Dubai, the second-biggest of the seven sheikhdoms that make up the United Arab Emirates, are likely to remain flat until 2010 after five years of steep gains, Colliers CRE Plc said.

About 140,000 new homes will be completed in Dubai by the end of 2010, adding to the existing stock of about 300,000 units, Colliers said in a report released in Dubai yesterday. Home prices average US$5,420 per sq m, or US$504 per sq ft, in Dubai, compared with US$6,500 a sq m in neighboring Abu Dhabi, the report said.

“We’ve not seen a drop-off in demand, but there has been a slowdown in value appreciation,” Ian Albert, Colliers regional director, told reporters in Dubai.

By Bloomberg

No comments: