Results of Dubai house prices latest poll

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Dubai residential real estate prices are expected to fall a further 10 percent in 2010, a Reuters poll of 17 analysts showed. Following is a summary of the results of the poll conducted between April 5-12:\n(Getty Images)
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1. When did/will Dubai residential property prices hit a bottom?\nOut of the 17 respondents:\n2 said already reached\n3 said the first half of 2010\n5 said the second half of 2010\n6 said the first half of 2011\n1 said the second half of 2011 or later.\n(Getty Images)
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2. What is the percentage chance of a residential property market recovery\n(when property prices start to pick up) happening in Dubai before the\nend of this year?\nThe median of 17 forecasts was 10 percent\nForecasts ranged from 0 percent to 55 percent.\n(Getty Images)
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3. a) What is your forecast for percentage change in average Dubai residential\nproperty prices from the peak in the fourth quarter of 2008 until now?\nThe median of 17 forecasts was 53 percent down\nForecasts ranged from 35 percent to 75 percent down\n\nb) And how much will prices fall from now before stabilising?\nThe median of 17 forecasts was 10 percent\nForecasts ranged from 0 percent to 30 percent.\n(Getty Images)
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4. On a scale of 1 to 10, where 1 is extremely undervalued, 5 is fairly valued\nand 10 is extremely overvalued, what best describes the current average\nlevel of Dubai residential property prices relative to fundamentals?\nThe median of 17 forecasts was 6\nForecasts ranged from 3 to 8\n(Getty Images)
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5. What is your forecast for the full-year percentage change in average\nresidential rental prices?\nFor Dubai\nIn 2010 the median of 15 forecasts was for a fall of 10 percent\nIn 2011 the median of 14 forecasts was for a stabilization (0 percent)\nIn 2012 the median of 5 forecasts was for a rise of 3 percent\nFor Abu Dhabi\nIn 2010 the median of 14 forecasts was for a fall of 15 percent\nIn 2011 the median of 14 forecasts was for a fall of 3 percent\nIn 2012 the median of 5 forecasts was for a rise of 5 percent.\n(Getty Images)
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6. What is your forecast for the full-year change in average residential\nproperty prices?\nFor Dubai\nIn 2010 the median of 17 forecasts was for a fall of 10 percent\nIn 2011 the median of 14 forecasts was for stabilization (0 percent)\nIn 2012 the median of 5 forecasts was a rise of 3 percent\nFor Abu Dhabi\nIn 2010 the median of 15 forecasts was for a fall of 10 percent\nIn 2011 the median of 15 forecasts was for stabilization (0 percent)\nIn 2012 the median of 5 forecasts was for stabilisation. (0 percent)\n(Getty Images)
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\nThe analysts who participated in the poll represented the following organisations:\nAl Mal Capital, Arqaam Capital, BofAML, CA Cheuvreux Middle East, CBRE, Deutsche Bank, EFG-Hermes, Global Investment House, HC Securities, JP Morgan, Landmark Advisory, National Bank of Abu Dhabi, NCB Capital, Prime Emirates, SICO, The First Investor and UBS.\n(Getty Images)
Tue 13 Apr 2010 04:36 PM