Analysts have said the four-year decline in house prices in the UAE isn't expected to end in 2012, as oversupply and concerns over the health of global economy weigh on the market, Reuters has reported. Growth in the second largest Arab economy is expected to slow this year to 3.1%, which will not help Dubai's property prices to recover after plunging by two-thirds from their 2008 peak. Prices in the emirate will ultimately ease another 8%, while neighbouring Abu Dhabi, which is now showing signs of pressure, will see housing prices fall by as much as 11% this year. "Macro-economic concerns compounded with an ongoing supply-demand mismatch will further delay the recovery of the UAE property market," said Patrick Rahal, manager at Doha-based investment company The First Investor. [AMEInfo.com]


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