Analysts expect further 10% plus price falls in residential property in Dubai and Abu Dhabi

[Nicholas Wallwork]

Residential property prices in Dubai are set to fall another 10% and those in neighbouring Abu Dhabi by 13% in 2010 as supply expands in both markets, according to a new survey.

Dubai's once booming property market has been hit hard as a result of the global financial downturn and the Gulf state's debt crisis and real estate prices have already fallen by 55% since their peak in the third quarter of 2008.

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