Is Dubai's real estate market overheated?

The Dubai real estate market is at the level of 2013. It is one of the most promising real estate markets in the world, and many people wish to purchase property there. However, some believe that property prices in Dubai are too high, and the market is "overheated". But looking at price charts, it can be seen that the average price of real estate in Dubai per square meter is at the 2013 level.

Currently, Dubai property prices are 10.5% lower than the previous market peak recorded in 2014. Analysts also predict that market growth will be more sustained than in 2014.

Dubai developers are actively launching numerous new projects, with around 78% of them being apartments. In turn, investors are increasingly buying property for themselves and long-term investments rather than for quick resale.

In addition, data from DLD for February 2023 shows that the total number of off-plan real estate transactions in February was 4,551, which is 76.7% more than in February 2022. There is an even distribution between off-plan projects and completed properties.

In summary, it can be concluded that the Dubai real estate market is growing at a moderate pace, and property prices have not yet reached their historical peak. Therefore, now is the best time for real estate investments.

Keywords: Dubai real estate market, overheated, property prices, market growth, investment opportunities.