The timing of the Dubai residential market’s decisive recovery, is what most of the market players have been trying to gauge over the last 12 months - one that cannot be generalised into a blanket statement and requires a nuanced analysis as the market continues to fragment further. While most players are in consensus over the market bottoming, a range of economic factors is resulting in contradictory indicators of recovery, which we detail further in this report.
Taking a macro-view, the overall market has marginally edged upwards over Q1 2017, as predicted in our past forecasts.
The mainstream areas are witnessing a gradual recovery, initiated since Q1 2016, while prime areas continue to lag in performance. Even so, transaction volumes continue to be steady across most prominent residential districts with many witnessing a double digit year-on-year rise, largely driven by the growing off-plan market.
Through this quarterly market update, we delve deep into the market deterrents, occupier and investor sentiment, the lagging rental market and the upcoming trends, along with the periodical analysis of prominent residential districts that we track.
Source : Core Savills