2019 will see Dubai becoming a buyer’s market as per several reports and studies. Leading experts have suggested that residential property prices may come down by roughly 5-10% in 2019, making several housing units cheaper than before and piquing interest from end-users and investors alike. This may lead to more sales of residential units and eventual growth of the market according to reports. Dubai has already seen prices of residential property coming down by 6-10% last year. Prices of real estate are already on the downward slope and this makes the market more tempting for first-time homebuyers and other investors who are looking to snap up residential real estate at comparatively cheaper prices.
This will also help in making it easier to enter the market as far as first-time buyers are concerned in terms of property prices. Prices will also come down due to the huge influx of supply expected in the Dubai housing sector. 2019 will see multiple projects being handed over and a large majority of these were started when the Expo 2020 bid was won by the Emirate. However, demand will start rising in 2019 and the next boom for the realty market will come about in 2020 once the Expo starts. Yet, premium real estate projects will continue to be delivered in Dubai on a consistent basis keeping things largely stable for buyers as per reports.
Dubai continues to be enticing for investors since there are chances of garnering good returns in case the right price and project are selected by investors. Several second generation Dubai residents are also eager on owning their homes in the Emirate.