Wall Street Journalのインスタグラム(wsj) - 2月19日 21時00分

At Dubai's Burj Khalifa, the world's tallest building, a one-bedroom apartment would have fetched $1 million five years ago.
Today, the same apartment goes for less than $550,000, according to brokers.

A global capital of luxury, Dubai was one of the world’s worst-performing cities for real-estate prices over the past two years, property consulting firm Knight Frank said.

Lower oil prices, weaker currencies in nearby countries, and Middle East political turmoil have all undercut property prices. So has Dubai's "Build and they will come" approach, which has created a glut of high-end housing.
That oversupply could keep weighing on prices for years. The city-state of more than three million people is one of the world's biggest construction sites, with nearly 1,200 cranes still active across the city.

Read more at the link in our bio. ?: @annamaria_nielsen for @wsjrealestate

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