Property prices will continue to fall until the fourth quarter in Dubai's most popular neighbourhoods, Landmark Advisory has said.

The price of an apartment fell 23%, while the price of a villa fell 32% in the first quarter - bringing them down to levels similar to the fourth quarter of 2007, but volumes remained low, the broker said.

However, the number of transactions in the first quarter was skewed towards the upper end of the market, and after creating an equally weighted sample of both medium and high end transactions, the average price of an apartment fell 29%, while villas were down 39 percent.

Arabian Business, The National