Wednesday, 15 December 2010

gulfnews : Dubai to see 48,000 new homes

gulfnews : Dubai to see 48,000 new homes

Dubai: About 48,000 homes will come on the Dubai market in the next two years, or about 12 per cent of existing supply, according to Jesse Downs, director of research at Landmark. An influx of foreign buyers sparked a construction boom as prices rose by 79 per cent to mid-2008 from 2007 before the financial crisis caused lenders to tighten credit and speculators left the market.

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