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FinancialNews
21-01-18
Abu Dhabi sees biggest property prices decline worldwide
(MENAFN) Real estate market of Abu Dhabi has reportedly witnessed a major decline in property prices last year, with it being ranked at the bottom of the list.
Abu Dhabi has been placed 150th out of 150 cities covered by Knight Frank's Global Residential Cities Index, with over 90% annual property price fall. Dubai was also ranked 134th with a slump of 2% in prices annually.
The collapse has been seen even with analysis of five-year statistics findings of Middle East cities to have reached the highest increase in nominal property price growth with an average of 58%.
MENAFN2101201800450000ID1096372107
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