Gloomy report predicts no change in Dubai property market for another year

[Nicholas Wallwork]

The property market in Dubai remains weak and is unlikely to*recovery strongly before the second half of 2010, according to*a new report.

Demand is focused in the rental market and buyer confidence*has all but disappeared as prices have fallen by up to 50%*since their peak last autumn, says the report from Egyptian*investment bank EFG Hermes.

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[nicefriend]

We pray it recovers soon