New report warns of property oversupply in Dubai
The increase in residential developments in Dubai could outpace the city’s population growth, leading to oversupply and a drop in property prices.
That’s according to the latest report from real estate firm, JLL, which says that up to 80,000 new units could be delivered by the end of 2019.
Asma Dakkak, Research Manager at JLL, told ARN what the key questions are for the market:
Dakkak added that property prices could see a double-digit decline.
But despite that, she says that villas and apartments in Dubai will still be on the expensive side.