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Analysts predict Dubai housing will remain affordable

Analysts predict Dubai housing will remain affordable

At the same time, experts warn about the possible stratification of the real estate market.

Currently, the situation in the housing market of the United Arab Emirates continues to show resilience. Experts from the analytical agency Reuters inform that until the end of 2022 it will remain at approximately the same price level. Analysts believe that there will be an increase in value, but insignificant: prices will increase by 3 percent this year and another 2.5 percent next year.

Faisal Durrani, head of Middle East research Knight Frank, calls Dubai market cheap compared to other countries in the world. The expert informs that now prices are one third lower than their maximum recorded in 2014. According to the expert, the main reason for the lack of significant growth is the abundance of housing and ongoing construction: next year, more than 60 thousand residential objects will be put forward on the real estate market. If reality matches the expectation, then this will be the maximum level of the UAE facilities put into operation since 2009.

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