Dubai Palm Jumeirah property prices fall 40 pct

Dubai's Palm Jumeirah island have fallen as much as 40 per cent since September as buyers struggle to get mortgage loans amid the global credit crisis, property brokers say.

A four-bedroom villa on the man-made island developed by government-owned Nakheel, is now selling for Dh10 million (US$2.72m), down from Dh15m in September, Quaid Abbas, property consultant at Engel & Volkers said today.
Rehab Gouda, senior sales agent at Al Jabal Real Estate, said that prices had fallen 40 per cent during the same period.

Dubai's Palm property prices fall 40 % - The National Newspaper

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