Dubai Property Market May Be Bottoming OutThursday, March 05, 2009
Brokers in Dubai say there are signs that property prices may be bottoming out in the emirate, reported The National. They cite an increase in transactions in February as evidence that buyers are returning to the market. Liz O'Connor, director of residential sales and leasing at Better Homes, said its transactions rose by 15% in February 2009 compared to January 2009. Iseeb Rehman, Managing director at Sherwoods, noted that transactions appear to be picking up in the Dubai Marina, where prices have fallen by around 50%. Source: AME Info
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