Unlike the British housing market which has been suffering since last year, the property market in Dubai has reportedly seen a 79% increase in average prices since January 2007. This is on top of the incredible gains that the entire market has witnessed since the government announced its intentions to allow foreigners the right to own freehold title to properties on certain specific developments back in 2002. When this law was finally ratified in 2006, prices surged with increased vigour and led to some analysts earlier this year suggesting that the market was dangerously overheating.
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