Dubai, Property Market Outlook, Winter 2017
Cluttons has released its Dubai Property Market Outlook for Winter 2017/18, detailing the performance of the emirate’s residential and commercial markets.
Overall market conditions in the emirate have been relatively healthy. Going forward, we see regional developments and local legislation playing a big part in Dubai’s property market. We believe that Dubai Government’s initiative to focus on affordable housing is extremely positive and is a watershed moment for the city’s residential market.
On the commercial front, Dubai’s office market has been far more resilient than its regional peers, owing to the diverse nature of occupiers, which of course is linked to the emirate’s heavily diversified economy. With the market remaining fragmented and the impending introduction of VAT, office rental rates have held up reasonably well in many submarkets.
Further detail on the outlook for the city’s residential and commercial markets is presented in the report