Dubai prices resilient in the face of falling demand

Dubai property prices remain resilient in the face of falling demand, according to Knight Frank.

The agency's latest report shows that prices fell 1.2 per cent quarter-on-quarter in the final months of 2014, despite the number of residential transactions falling to their lowest level since the end of 2012.

December's figures marked the second quarterly decline in a row, almost reversing the growth seen in the first half of 2014, with values now just 0.3 per cent higher year-on-year.

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