The Dubai property market may be experiencing a “false start”, according to one real estate consultancy.
An increase in sales volumes in the first quarter and slowing price declines should not be misconstrued as evidence of a market recovery, said Phidar Advisory.
“The market is undergoing a false start now,” said the managing director Jesse Downs.
“Oil prices are still low, the US dollar is still high and probably going to increase in strength.
“With a growing population and ever-present foreign investors’ appetite, we expect the forecasted units due for delivery this year to be easily absorbed by additional demand.”
News Source: Jump in Dubai home sales a ‘false start’, says expert
