Reidin, the leading real estate information company focusing on emerging markets, released its November residential market overview for Dubai.
November has seen sales prices coming down1.23% versus October. This was the first time in months that we had seen a shortfall higher than 1%. Based on that, we expect December to follow the same trend as the last month of the year is historically known to be slower in the Emirates with expatriates travelling back home for the holiday season.
The first quarter of 2018 will be all about observing the market especially when the influx of properties will start kick it in (30,000 new units to be delivered across Dubai). We have seen already some owners inquiring about the value of their properties and investors also being on the lookout for great deals.
2017 was clearly a buyer’s market therefore what to expect in 2018? More of the same? One thing is for sure, Dubai is a unique marketplace where investors transact on a weekly basis. Regardless of which direction the market will go, deals will take place.
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