Dubai real estate slump leads to bouts of realism and denial


Issue 1017 - 17 Jun 2016 | 3 minute read

With the Dubai property market going through one of its periodic downturns, the authorities are keen to contain pessimism, lest it upsets investor sentiment. Some local market players have put a positive spin on the past year’s 10% price slump, by suggesting there should be a recovery in H2 2016. Not everyone is convinced, however, with the market confronted with a twofold problem: the strong US dollar, which has made property more expensive for international buyers, and low oil prices, which mean regional investors have less money. That has opened up a gap between supply and demand.

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