Mayor Johan Månsson says it's a combination of the current economic downturn and dwindling rural populations.
Here's what's driving the drops.
The luxury house market is in a slump, new sales data shows, with one agent claiming the wealthy are moving to Australia.
"You pay me good price, I also get dirty for you," she said in one of the videos.
The ocean has swallowed up half of the section.
The apartment will be set atop the 71-storey tower Como Residences on the exclusive Palm Jumeirah.
The California beach house will be open for one night only.
The average home decreased in value by 1.5 percent nationally this quarter - and the national average is now $888,999.
"Carefully curated by yours truly, this haven will immerse you in the ultimate goop retreat."
