Asiya Investments: Prices continue to climb in Dubai
Asiya Investments said in its latest weekly analysis that while China is consolidating its state-led moderation, prices continue to climb in Dubai. The recent economic slowdown in China is having a profound effect in many of its sectors, The Saudi Gazette reported. The property market in China, which has been showing clear signs of cooling down in recent months, is one of those in which the slowdown is expected to be more intense. Price growth peaked late last year, reaching a yearly rate of 9.9%, and has been trending down ever since. In fact, the month-on-month growth rate has been negative since May, reaching monthly declines of nearly a full percentage point. Second-hand house prices contributed the most to the moderation of property prices, failing to grow in 19 out of the 70 most prominent cities in China.