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.

Tuesday, September 29, 2009

‘Dubai house prices will continue to fall’

DUBAI: Dubai’s house prices, which plunged 47 per cent in the 12 months through June, will continue to fall because of “oversupply,” Jones Lang LaSalle said.

The problem “is likely to get worse before it gets better in some sectors and this will continue to place downward pressure on prices and rental levels in the short term,” the Chicago-based real estate company said.

About one-quarter of Dubai’s offices are empty, and average hotel occupancy rates dropped to about 65 per cent, according to Jones Lang LaSalle.

By Bloomberg


Ann Julie said...

Dubai’s ruler, Sheikh Mohammed Bin Rashid Al Maktoum has just said that the UAE will overcome the financial crisis soon, and describing the crisis as “a passing cloud that will not stay longer despite pessimistic speculations and analyses by economists and financial experts.”

Maria Joe said...

i think it is the real time for the small property agents to buy property for the future point of view as its prices will be stable round 1 year. So, nice way to work on this idea. And you may also sell your property to Bayut Dubai Property Portals etc sites as well.