Villa demand surges to buck Dubai’s sales crash

Dubai housing sales have plummeted 45 per cent year-on-year according to CB Richard Ellis as oversupply continues to bite.

The research by CBRE found that 1,459 property transactions were carried out in the year to Q3 2011…way down on the 2,649 noted in Q3 2010.

Mohammed Faheem, senior research analyst at CBRE, said however that the limited supply of Dubai villas is keeping them on most people’s wanted list.

Source: OPP