Dubai home prices are likely to remain flat this year, although some areas could see further falls of as much as 30%, says Jones Lang LaSalle.

Prices in the emirate surged in 2008 as speculators bought and sold off-plan homes, sending prices up by 43% in the first three months of that year.

Those increases have since been erased, with overall prices down by more than 50% from their peak in the third quarter of 2008.

The National