According to Asteco real estate management company’s forecasts, about 30,000 new residential properties should enter the market by the end of the year.
Since spring 2021, the Dubai housing market has been growing intensively: prices and rates have risen, as well as market confidence and plans for new projects have increased.
However, now the market is preparing for more modest but stable growth. The reason is the intention of developers to put on the market this year about 30,000 residential properties and about 186,000 square meters of office space.
This influx of new supply into the market can restore balance, weaken the influence of sellers who could safely dictate new prices and rental rates, and use prevailing consumer demand over supply.
It is noted that the highest price and rate changes will be in the luxury housing category, especially in the villa segment. The latter remains the focus of an ever-increasing customer inflow.
