US EditionDubai property sector shows early signs of weakness
Transaction volumes in Dubai's property market fell 49% month-on-month with discounts up to 15%, as the U.S.-Israeli war on Iran challenges its safe haven status, analysts said.
- Dubai's real estate market shows early signs of weakening with transaction volumes down and price reductions amid the US-Israeli war on Iran.
- Goldman Sachs reports a 37% year-on-year and 49% month-on-month drop in UAE property transactions in early March, with price cuts of 12-15% observed.
- Citi analysts highlight increased risk perceptions, forecasting slower population growth and potential annual property price drops of 7% in Dubai through 2028.
- Some investors still see opportunity, illustrated by a $25 million sale to Francis Ngannou, while developers like Emaar report no widespread price discounting currently.
21 Articles
21 Articles
West Asia crisis: Dubai real estate sector shows early signs of weakness
Dubai's property market shows early signs of weakening amid the US-Israeli war on Iran. Transaction volumes have fallen significantly, and some properties are offered at discounts. Analysts predict a slowdown and potential price drops. However, market activity has not stopped, with some investors seeking distressed deals. Developers remain optimistic about long-term value.
Dubai property sector shows early signs of weakness
Dubai's property market is beginning to show early signs of weakening nearly three weeks into the U.S.-Israeli war on Iran, with data from analysts showing tanking transaction volumes and some real estate agents pointing to price reductions.
Dubai is under pressure. What to expect if the war doesn't end soon?
What is really happening with investments, prices and buyer sentiment in the UAE after the escalation in the Middle East - Yuriy Hrushetsky, founder of Deniz Estate, which works in the UAE in particular, told TSN.ua. More ᐅ TSN.ua (news 1+1)
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