In a special real estate report issued by Arabian Business, a number of real estate experts in Dubai predicted the current slide in sales and rental prices to continue over the next year.
The report questioned a number of professionals working in many of Dubai’s top real estate agencies about their predictions of the market future.
The chief sales officer of Kingston Properties “Mario Volpi” said that developers tend to reduce the size of their apartments in attempt to make prices more favorable for buyers. He said that one of 2018’s trends will be affordability. Building smaller units has started already in some areas like JVC, Dubai South, Dubailand, and other districts, and it is expect to continue over the course of the coming years, according to Volpi.
Commercial director of Propertyfinder, Paul Spargo, said that prices are decreasing across the city and this trend will last, however, it is predicted to take a slower pace compared to the latter years.
From his side, the head of property sales at Dubizzle “Matthew Gregory” predicted the current trend to continue in the next two to three years as around 120,000 new units are planned to enter the market during this period.
CEO of Bayut, Haider Khan, said that next year will offer good opportunities for buyers as sales prices will continue sliding across several districts in parallel with the entry of large supply.