GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate and Retail

 
  Share

Dubai, UAE, January 7, 2018:  As we now close the books on Q4 of 2017 and reflect on the most recent quarter, it's clear that  major political events to the west, and OPEC oil controls limiting production, have put pressure on and spooked the UAE market .

Why is it the market continued to weaken in 2017? The macroeconomics largely come down to world affairs and basic supply and demand.

In recent years, Dubai's new development market has gone from strength to strength, with a myriad of new projects being announced, as well as delayed projects from the last boom market resuming. Handovers for this year alone are slated to be upwards of 32,000 units, with approximately a tenth of that amount already delivered year to date. 

With this in mind, there is an oversupply of off-the-plan projects, both affordable and luxury, completing in 2017 available for rent, and therefore rental yields have reduced. 

As overall supply continues to increase, it is unfortunately not being met by an appropriate net increase in demand. 

However, the UAE population is increasing. In 2016 the population was between 2.6 - 2.7 where as in 2011 the population was merely 2 million. 

With such an increase comes a rise in job numbers and economic growth. I anticipate seeing in mid-to-late 2018 a positive phase for property, increasing by 1% (as long as there is no major impact on the area or negative political movement in other countries). This will be in response to population growth and spending from both the government and private sector, in the lead up to Expo 2020. 

Residential sales in September 2016 for off-the-plan properties were sitting at around 1,500, and in September 2017 the figure was 1,752. So you can see that amid market fear,  we have started to see some stability in regards to number of transactions. 

The most heavily transacted areas to focus on are Dubai South (which is run by the Government, and therefore supported by a huge marketing campaign looking towards 2020), Dubai Marina, Downtown, Business, Bay, Jumeirah Village Circle, and Mohammed Bin Rashid City.  

Interestingly to note,  new research suggests that approximately 62.9% property industry professionals  predict there will be new enquiries for real estate, therefore a hopeful number of transactions to increase

Ultimately, real estate is long term investment with a 10 year strategy, and 2018 is a moment to take advantage of prior to a rising market. 



Posted by : GoDubai Editorial Team
Viewed 12151 times
Posted on : Sunday, January 7, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : National Bonds handing over the second phase of Motor City Green Community Villas
Next Story : Symphony Style Hotel Kuwait named Best Luxury Family Hotel in Kuwait at World Luxury Hotel Awards
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Grand Mall Opens the 52nd Outlet in Al Musallah - Sharjah
LOOTAH Perfumes launches four new springtime fragrances for Him and Her
Meet the FOREO family as they share their top tips for radiant skin during the ...
Amani Glam Collection
LOOTAH Perfumes launches fragrant oud ‘Ambwood'
Three Trends to Try with Palladio Beauty
Experience 5 Seconds to New Skin with OXYGEN-PEEL from Filorga
Lip Stick to my Heart - GOSH New Collections
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series
Carrera UAE Exhibition
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show
bebe Launches First Ever Ramadan Capsule Collection
New Master Maserati Driving Courses for 2018
Toyota Rush makes a new beginning in the UAE
Care for your baby's sensitive skin with Corine de Farme
Spinneys Puts Local Food Heroes in the Spotlight this Ramadan
‘Tree of Life' Continues to Change Lives at Arabian Center, This Ramadan
Enhance your natural beauty while staying active with The Body Shop's Sportify M...
Ethereum - Second In A Series Of Exclusive Cryptocurrency Watches Launched
Global Light and Power Celebrates 10 Years with the Opening of their New Showroo...
Ramadan-Inspired Sandro SS18 Pieces
Mads Mikkelsen Spotted on Red Carpet at Cannes Wearing Ulysse Nardin Masterpiece
Dubai Holy Quran Radio launches new special programmes for Ramadan
Beautiful Kaftans for Ramadan from GUESS
Celebrate a Traditional Ramadan at the First Swissôtel in Dubai
Diabetes & Ramadan (DAR) Alliance and Sanofi introduce new integrated digital hu...
HydroPeptide Launches Solar Defense Products in UAE
Get Voluminous Eyelashes and Eyebrows with Rodial's Lash and Brow Booster Serum
Make Ramadan Better With the Gift of Sharing
RAK Diabetes Center in Jumeirah offering Free Lifestyle wellness checks and Diet...
The Balmain de Balmain II Mini is a true win-win
Aru Impressed with Team Spirit as Italian Champion Secures Top Ten Finish
Pottery Barn Kids Launches Baby Registry Service to Welcome Newborns
Ikea Yas Island Recognised as One of the Brand's Best Stores in the World
Celebrate The Holy Month Of Ramadan With The Night Picnic At Tub Of Butter
Facebook Launches Youth Portal, a Central Place for Teens
LG G7 Thinq Offers Deep AI Integration for Maximum User Convenience
Karl Lagerfeld Celebrates Fall / Winter 2018 Collection
Google launches new feature on Search to mark Ramadan
CND™ Boho Spirit: The Collection Summer 2018 Shades
Global Rollout of LGG7 Thinq Gets Underway
Celebrate Father's Day in 'Swiss Style' with Raymond Weil.
Charity event brings early Ramadan spirit to children of determination and their...
OMEGA Welcomes Sailing Sensations Peter Burling and Blair Tuke as Brand Ambassadors
Etihad Airways Introduces Ai Robot Sophia to Abu Dhabi
Hour Choice Presents Coach Perry Collections – Ramadan Exclusive
Breitling's Navitimer 8 Collection Arrives in The Middle East
Corum in Rome: La Dolce Vita Returns to Watchmaking
A Nose for Great Sound
Elvis Presley's OMEGA Sells for a World Record CHF 1,500,000 at Auction