Real estate market in Dubai remains weak, damning report shows

[Nicholas Wallwork]

Property prices in centrally located areas in Dubai may be reaching bottom but most could still*experience price falls of up to 15% this year, according to analysts.

'We expect average residential prices to fall by 15% in 2010, following a 45 percent decline*from the third-quarter 2008 peak levels,' said analysts from Bank of America Merrill Lynch in a*new report for investors, Dubai aftermath of a bubble.

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