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Realty News from UAE

Dubai house prices to drop 30% further

According to Swiss global financial services firm, UBS, Dubai home prices may drop as much as 30% more and could take at least a decade to recover, Bloomberg has reported. Increasing supply and a shrinking population will leave 25% of the emirate's houses empty in 2010, a UBS analyst said. The report is in contrast to a Deutsche Bank report this month that said the market is "bottoming out" with slowing price declines and an increase in transactions.

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