Real estate prices in Dubai have continued to fall on the back of oversupply and ongoing development, with the trends posing both challenges and opportunities to the emirate’s economy moving forward.
UAE: Dubai Real Estate
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In mid-April the Dubai Land Department (DLD) issued its quarterly report on real estate transactions, which showed there had been 13,759 sales, mortgage agreements or other deals conducted in the first three months of the year.
Economic update | Land sales and real estate projects drive growth in Dubai property market
19 Sep 2017
An increase in new developments and land sales has helped Dubai’s property market post a strong rise in transactions and turnover in the first half of 2017, suggesting last year’s slide may have bottomed out as developments accelerate ahead of Expo 2020.
While the first half of 2016 saw property values fall in Dubai’s real estate sector, strong fundamentals and consistent demand from foreign buyers suggest they may flatten out in the second half before turning upwards in the lead-up to Expo 2020.
A growing oversupply in some segments of Dubai’s residential real estate sector is encouraging developers to reposition their offering towards mid-range buyers, as the market witnesses broader price adjustments.