“Key sectors in Dubai, particularly real estate… will likely remain under pressure for the next 12 to 24 months,” S&P said in a report released on Monday.
“The residential real estate recovery would be led by cutback of new supply, assuming new launches by developers remain minimal, low mortgage interest rates that encourage residents to buy property rather than rent [and] declining prices that make investing in Dubai’s residential property attractive,” it added.
Outlook for residential, retail real estate
Property sales transaction volumes this year will remain robust and this will be driven mainly by lower prices. Among the residential properties in the market, villas will be more attractive to investors, as buyers lean…