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Overseas Property News
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Dubai property prices fall further
Country: Dubai, United Arab Emirates
22 April 2009 Landmark Advisory, a Dubai-based property consultancy firm, which has just launched a sales price index to assist potential buyers’ buying Dubai property, in an attempt to add greater transparency to the UAE property market, reports that Dubai property prices have declined further. “We have witnessed a price drop in the market that while continuing is showing signs of stabilising in certain locations,” said Charles Neil, CEO, Landmark Advisory. “Sales prices vary markedly between locations, and we are focusing on producing monthly reports to accurately portray the market and be as relevant as possible to our clients using our guides as a reference when purchasing a property.” According to Landmark Advisory, prices have depreciated by up to 32% year-on-year, depending on location, and property type. “Prices in our sales map are taken from actual transactional data sampled at the end of Q1 2009 transactions,” added Neil. “There has been a high demand for this information from our clients and investors, and we’re on track to frequently produce these maps to empower clients with the knowledge to make sound property decisions in this market.”
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