Dubai's property prices up 33 percent

(MENAFN) Dubai's residential property prices are forecasted to continue boosting over the year 2014, but slower than the current rate, according to Khaleej Times. Jones Lang LaSalle (JLL), a real estate investment and advisory firm, said Dubai's residential market saw a 33 percent rise in average prices year-on-year, with average rents improving 23 per cent. A report by JLL said: "While the market remains shy of its 2008 peaks in most locations, prices in some areas have now reached peak levels," the report said, observing that activity in Dubai"s real estate investment market remained strong."