(MENAFN- Khaleej Times) Dubai luxury-home prices increased at the slowest pace in more than a year in the last quarter of 2013 as government measures to cool the emirate's rebounding property market took effect.
Values of prime apartments and villas rose 15 per cent in the fourth quarter from a year earlier, Knight Frank LLP said in a statement on Monday. Prices will increase by 10 per cent to 15 per cent this year, the London-based broker estimated. Dubai's government has taken steps including doubling the transaction tax on homes to four per cent as it tries to avoid a repeat of the property bubble that burst in 2008
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.