Most important news about property markets

I see the sales prices on apartments in Dubai are falling now. Are they going to continue to fall?

The plunge in oil prices may take more of the froth off Dubai’s booming real estate market, but broad-based demand for property is likely to prevent any crash.

House prices in Dubai and Abu Dhabi flatlined during the final quarter of 2014, studies showed yesterday.

Reports from both JLL and MPM Properties, the real estate consultancy arm of Abu Dhabi Islamic Bank, revealed that house prices in the two cities did not rise at all in the three months to the end of December.

The fall in the value of the rouble, the effects of western sanctions, and plummeting oil prices have caused a decline in Russian tourism to the UAE, with Dubai especially feeling the effects as Russian visitors stay away or cut spending.

Hundreds of investors on Dubai’s Palm Jebel Ali have called on developer Nakheel to restart the project.