2018 remains a critical year in Dubai’s real estate market trajectory as this is the third consecutive year with average sales prices softening across most districts along with widespread rental declines – albeit with an eminent recovery not yet in sight.
What is to follow in the coming two years will have a great impact on the mid-term market dynamics in Dubai post 2020. Challenges of oversupply, mismatch between offer and supply, weakening demand across other sectors such as office and retail, and relatively lower levels of household income growth are all exerting downward pressures on the market.
However, this hasn’t significantly dampened occupier sentiment due to the wide variety of options now available at very competitive prices with higher levels of flexibility offered by both the developers in new launches and landlords in the rental market.
Source : Core Savills