Dubai’s real estate market has been reeling from the effects of a slowing economy and oversupply of residential units. Even as the market tries to fight this double-whammy, there’s hope on the horizon.
A Higher Real Estate Planning Committee has been established in Dubai to bring about a right balance between supply and demand, avoid launching similar real estate projects and ensure projects add real value to the national economy.
A considerable portion of the expat population in Dubai still stays in rented homes. A lot of them, unsurprisingly, are now enjoying what is deemed a tenant-friendly market where rents are softening across different communities.