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Dubai Residential Market - Q1 2016

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Dubai Residential Market - Q1 2016

Although Dubai is not directly reliant on the hydrocarbon sector, there is no doubt that the downturn in global oil prices will have at least some impact on the real estate economy, at least in the short to medium term. This, together with a raft of other factors such as a generous supply pipeline and the strengthening Dirham against a range of traditional investor economies, is starting to impact the residential sector albeit relatively modestly at this stage.

While Dubai still holds a favoured position for investors in dollar-driven economies, investor sentiment across the GCC is generally weakening at present, with the result that local and regional investors together with end users are starting to sense a strengthening in their bargaining position and as a result prices are coming under some downward pressure.

Source : Core Savills

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Keywords : Core Savills