Dubai starts seeing stability in home prices

There is some respite for those looking to acquire property in Dubai now — the surge in asking values during November, December and January led by the Expo 2020 win announcement looks to have subsided. That Dubai/UAE cannot afford to have its property market in constant overheated mode is being rammed home from several quarters, most notably by the International Monetary Fund.

But anyone looking to buy now — from an end-user perspective - would still need to have immediate access to sizeable funds. More so if they are looking at villas. “The need to save up larger deposits will mean the transition from the rental market to owner occupation will take longer”, states a new Cluttons report on the first-quarter trends in Dubai’s residential market. “As a result, we anticipate capital value growth rates for Dubai’s villa sub-markets to cool further in the near term, which may offer some respite to households aspiring to purchase.

“Values are however not expected to record any declines