Property prices dip in Dubai and Abu Dhabi

a new report by hsbc global research has found that property prices in the secondary market fell in october by 4% in dubai and 5% in abu dhabi. the fall in prices was greater in abu dhabi because the emirate's property market has a greater proportion of off-plan sales, the report said. in dubai, prices on the pal on palm jumeirah fell 32%, and at the dubai international financial centre (difc) prices fell by 30%. for villas, prices at arabian ranches fell by 18%. in abu dhabi, the price of apartments fell by 16% at al-raha beach and the price of villas at al-raha gardens fell by 2%.