Dubai, Property Market Outlook, Spring 2017
Cluttons has released its quarterly Dubai Property Market Outlook for Spring 2017.
A slowing rate of decline across all sectors of the Dubai real estate market suggests increasing stability, with the expectation of the market ‘bottoming out’ before the end of 2017 likely as the ‘Expo 2020 effect’ filters through.
Increasing supply, changing demand for executive positions in the employment market and increasing rent moderation are all expected to continue to impact the residential market during 2017.
Office rents across submarkets we monitor remained relatively steady throughout 2016, following strong growth in the preceding 12 to 18 months. However, global economic anxiety and a subsequent scaling back or delaying of short term expansion projects, particularly amongst international corporate occupiers, has begun to impact on the resilience of rents.