Average residential rent prices in Dubai saw a decline of over five per cent in the first quarter of the year, a real estate firm has said. According to a research by local real estate firm Cluttons, the Dubai residential market has yet to reach its bottom in terms of pricing, despite declining roughly by 45 per cent in some areas since the peaks of 2008. Cluttons report said that property sales were down by an average 2.9 per cent, adding that the glut of new homes coming online in Q2 would see rent prices dropping still further, added that …

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