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Property prices in Dubai fell 7.4% in the third quarter
Housing prices fell 7.4 percent from a year ago in the third quarter of 2018, the central bank said in a report on Tuesday, accelerating from 5.8 percent in the second quarter.
The central bank quoted the Ryden index of residential sales prices, which showed a 2.5 percent drop in prices from the previous quarter. Prices have been falling almost steadily from month to month since the beginning of 2017 due to the deterioration of the supply and demand balance.
Housing prices in Abu Dhabi fell 6.1 percent year-on-year in the third quarter after falling 6.9 percent in the second quarter.
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