Dubai proving a tempting destination

Factfile on global property prices

・ Property prices in Dubai have been falling, a respected research report reveals.

・ Real estate prices in March dropped by 6.1 percent compared to the same period last year, according to the Knight Frank Global House Price Index, which tracks the performance of major residential markets across the world.

・ Out of the 56 markets monitored by Knight Frank, only 14 locations registered price declines. Ukraine was the worst performer, showing a 15.5 percent drop in rates.

・ The index is compiled on a quarterly basis and uses official government statistics or central bank data.

・ Hong Kong is the top performing market in terms of growth in property values, registering a 18.7 percent increase.

・ In a separate survey, Phidar Advisory said property prices in Dubai fell in the first six weeks of the second quarter this year by about 1.5 percent.

・ This is in line with Reidin's residential property sale price index for Dubai, which declined in April 2015.