Reported about 16 hours ago
Dubai's property market, known for its rapid growth and high prices, is showing signs of strain as developers grapple with slowing sales and rising costs. While new developments continue to emerge, industry leaders like Emaar Properties' Managing Director, Mohamed Alabbar, express caution about increasing prices excessively, fearing it may deter potential buyers. Nearly 20% of homes are valued over $1 million, and while prices are projected to moderate in 2025, the influx of new residents and skyrocketing rents is raising concerns about market sustainability and affordability in the long term.
Source: YAHOO