Podcast: Is the Dubai property market bubble about to burst?

Podcast: Is the Dubai property market bubble about to burst?

Friday 28 April 2023Wed 16 Feb
Podcast: Is the Dubai property market bubble about to burst?

Is there a bubble in the Dubai property market? The numbers surrounding the Ramadan period! There is no better time to invest in Dubai’s real estate than now!

Welcome to this episode of Taking Care of Business where Operations Director Paul Kelly is joined by Managing Director Marc Walters to discuss what's been happening in the property market in Dubai. They start by looking at the numbers from the DLD's Q1 report, which shows a record-breaking 87.2 billion worth of property sold in Q1. Paul and Marc discuss how the market is still performing despite the rising interest rates and the higher cost of entry.

They attribute this to the lifestyle and security that Dubai provides, making it an attractive option for people who want to invest in property and create roots. They also discuss how the infrastructure in Dubai has improved over the years, making it easier for people to get around and access different areas. Moving on, they talk about how the off-plan market is a hot topic in Dubai at the moment, with 51% of all transactions in Q1 being off-plan. Marc mentions how people are choosing to buy off-plan properties to avoid the headache of buying a property with a tenant in place or to accumulate funds over time.

They also discuss how the majority of transactions are still between one and three million, which is the starter end of the market, showing that it's not just the top end driving the market.

Finally, they talk about the trend in apartments and villas in the market. While last year was heavily weighted towards apartments, this year has seen a continuation of the trend, with apartments making up the majority of the market. They note that this is not just the top end of the market, but also the bottom end, where people can get great deals on properties with good details in attractive areas.

Overall, Paul and Marc highlight that the market is still thriving and undervalued compared to major cities in the world. They urge listeners not to be put off by perceptions of the market being overinflated and to look at the data showing that it's still a great time to invest in property in Dubai.

To listen to the podcast in full click here.

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