Oxford DMCC News - Dubai property prices decline in first quarter as government actions take effect

June 23, 2014 1:17 pm

Broker Knight Frank LLP said that Dubai home prices that rose with the highest margin in the world over the 12 months through March declined in the first quarter after the financial authorities took steps to cool the market.

Values grew by 3.4% in the emirate, slowing from 9.2% a year earlier thereby putting Dubai behind Lithuania, Estonia and Malta for the quarter, London based Knight noted in a statement. Dubai homes grew 27.7% during the 12 months through March, far outstripping China’s 17.5% growth.

Dubai financial authorities have been working tirelessly to tame that has edged between booms and burst since Read More