Currency fluctuations adding to slowdown in Dubai property market

Residential property prices in Dubai fell again during the second half of 2016 and the slowdown is projected to continue. Data from two sets of figures covering the second quarter show that the real estate market is slowing although sales are holding up. However, currency fluctuations are adversely affecting demand from foreign buyers. The data from CBRE shows that it was the sixth consecutive quarter of declines with the average sales rate down 2% quarter on quarter and 12% year on year, with t...