Property Prices Drop 41% in Dubai

The recession digs into Dubai, where property prices fell 41% in the first three months of 2009.
May 6, 2009, 6am PDT | Nate Berg
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"It is just the latest indication of the extent to which Dubai's property boom of recent years has come to an end in the face of the worldwide recession."

"Colliers said prices had fallen as global finance has dried up and job opportunities in Dubai have declined."

"The 41% drop in prices between January and March followed an 8% fall in the previous three-month period."

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Published on Tuesday, May 5, 2009 in BBC
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