Dubai house prices head upwards
A new report has revealed that house prices in Dubai have continued to go up over the last year.
Figures from Colliers International show that during the 12 months to June 2008, property values rose by 76%.
However, the quarterly growth rate was found to have slowed down slightly over the course of the year.
House price inflation slowed from 42% in the first quarter of the year to 16% between April and June.
Commenting of the findings, Ian Albert of Colliers said: "If you consider the performance of other global cities over the same period, Dubai offered attractive returns comparative to these markets."
He added that although the quarterly growth rate slowed down over the year, it is "worth noting" that overall price growth still occurred across all residential sectors.
The rapid increase could explain why Jet-to-Let magazine recently highlighted the United Arab Emirates as one of this year's main investment hotspots.
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