Abu Dhabi house prices fell by 15% in the first three quarters of 2010 compared to the same period in 2009.
The sale prices of apartments and villas fell by 2.3% in September from August prices, and by 4.86% from prices in September 2009.
These are the findings from the website Reidin.com, which will launch its first residential price index of the emirate at the end of the year. The index is based on the valuations and listings in the capital, the data gathered by property agents.
“I believe the Dubai market has already found the bottom...the numbers are showing the same thing as well as our forecast analysis,” says Reidin.com CEO Ahmet Kayhan. “However, where is the bottom for Abu Dhabi is the question? Anyone who got in at the peak lost a lot of money, but who hasn't got in has a great opportunity.”