Dubai has moved off the bottom of a list showing the worst performing real estate markets in the world, it was revealed on Thursday.

Knight Frank's Global House Price Index for Q4 2009 revealed that although property prices in Dubai were still down by 42.1% year-on-year, Latvia had seen a larger decline.

The Eastern European nation's real estate sector plummeted 49.8%, the index which surveyed 47 countries showed.

arabianbusiness.com