Residential property prices in Dubai will fall by up to a third by the end of the year as new housing is ready, according to analysts.
'Prices will drop an additional 33% to about Dh600 (US$163) a square foot,' said Saud Masud, an analyst in Dubai for the Zurich-based bank UBS, in an interview with Bloomberg.
Other analysts are more conservative but also predict a decrease. 'By the year end, you can expect 10-15% fall from the current level,' said Sajeer Babu, an analyst at the National Bank of Abu Dhabi.
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