Dubai real estate performed the worst in the current year gliding further by 45 percent. The report is from The Wealth Report 2010 produced by Citi Private Bank and property consultancy Knight Frank. It also showed that Dubai was the biggest faller in the list of the world's 40 most influential cities. The emirate is facing the blow from global economic crisis and plummeted three places to 31 in a list based on their economies, political power, knowledge and quality of life. New York was the top scorer taking over London's top spot this year, as the UK capital also struggled with the financial downturn. High-end home prices faced turmoil all over but Dubai prices were by far the worst hit and Dublin seeing the second highest declines (25 percent). Luxury home prices rose more than 40 percent in the Chinese cities of Shanghai, Beijing and Hong Kong.
No comments:
Post a Comment