Dubai’s property market is showing early signs of stabilisation, according to insights shared during betterhomes’ latest monthly market webinar.
April recorded a near 2% increase in transactions compared with March. Off-plan activity represented 76% of all deals, up 7% from the previous month. While secondary market activity remained softer, listing supply did not rise significantly, suggesting sellers are maintaining confidence in the market.
Rental trends
Tenant enquiries rose by nearly 40% in April, while rental prices softened across about 70% of properties, with an average reduction of just under 10%. Analysts said this could improve affordability for the majority of residents who rent.
Policy developments
Three government initiatives were highlighted as potential market drivers:
- The removal of the Dhs 750,000 investor visa price cap, widening eligibility for property purchases.
- The proposed $9 billion Gold Line metro project, connecting 15 districts by 2032, which could support property price growth along the corridor.
- The UAE’s exit from OPEC, allowing greater flexibility in economic strategy.
Investment outlook
The webinar also compared Dubai with London as an investment destination. “Entry costs, taxes, and landlord regulations in the UK have made London a materially less attractive proposition than a decade ago,” the session noted. Institutional capital from Europe is increasingly focusing on the UAE, and off-plan buyers were reminded that contracts remain legally binding, with early legal review advised to understand SPA long-stop date provisions.
tanvir@dubainewsweek.com
