Moreover, a shortage of villas in the market two years ago led to a subsequent building boom, which is set to further weaken prices as new stock comes onto the market. Saeed Al Qatami, Chief Executive of development firm Deyaar Development, has dismissed fears of a Dubai property market crash, despite large declines in sales activity and rising house prices. He said the number of properties sold had fallen by more than half since last year, with prices falling as much as 30 percent from their peak.
Saeed Al Qatami, Chief Executive of development firm Deyaar Development, has dismissed fears of a Dubai property market crash, despite large declines in sales activity and rising house prices. He said the number of properties sold had fallen by more than half since last year, with prices falling as much as 30 percent from their peak.