There is No Oversaturation in the Dubai Real Estate Market
25.11.2024
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179 days
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There is No Oversaturation in the Dubai Real Estate Market
Dubai developers have dismissed rumors of an oversaturated real estate market, asserting that the demand for new properties continues to grow. There is no excess supply in Dubai, as interest in new projects remains high. They emphasize that the consistent rise in residential property prices indicates that oversaturation is not possible.
Issa Abdul Rahman, CEO of Kasco Developments, noted that prices in Dubai are increasing but remain lower than in other major cities such as Hong Kong and London. There is no oversupply—if it existed, prices would not be rising. Villas and townhouses have shown a 75% increase in prices, while apartments have risen by 55% compared to last year (according to the Market Snapshot report for October 2024).
The Dubai Land Department reported a record 20,460 sales transactions in October, which is an 82% increase from last year. This creates excellent investment opportunities: the longer you hold onto a property, the more likely its value will increase. This will allow you to reduce your mortgage debt (if any), increase your equity, and anticipate further price growth.
Prices in Business Bay have increased by nearly 20%, while in Al Jadaf they have risen by 40%. Projects on the Dubai Islands are also actively developing, and Kasco Development is considering Palm Jebel Ali for new projects. Over the next 10 years, Kasco Development plans to invest 1.2 billion dirhams in three projects—one in Business Bay and two in Al Jadaf.
There is a growing interest from European buyers, particularly from France and the UK, which is linked to economic uncertainty in Europe. Investors are eager to move their funds abroad, viewing Dubai as a safe and stable place with a reliable legal system.
Dubai developers have dismissed rumors of an oversaturated real estate market, asserting that the demand for new properties continues to grow. There is no excess supply in Dubai, as interest in new projects remains high. They emphasize that the consistent rise in residential property prices indicates that oversaturation is not possible.
Issa Abdul Rahman, CEO of Kasco Developments, noted that prices in Dubai are increasing but remain lower than in other major cities such as Hong Kong and London. There is no oversupply—if it existed, prices would not be rising. Villas and townhouses have shown a 75% increase in prices, while apartments have risen by 55% compared to last year (according to the Market Snapshot report for October 2024).
The Dubai Land Department reported a record 20,460 sales transactions in October, which is an 82% increase from last year. This creates excellent investment opportunities: the longer you hold onto a property, the more likely its value will increase. This will allow you to reduce your mortgage debt (if any), increase your equity, and anticipate further price growth.
Prices in Business Bay have increased by nearly 20%, while in Al Jadaf they have risen by 40%. Projects on the Dubai Islands are also actively developing, and Kasco Development is considering Palm Jebel Ali for new projects. Over the next 10 years, Kasco Development plans to invest 1.2 billion dirhams in three projects—one in Business Bay and two in Al Jadaf.
There is a growing interest from European buyers, particularly from France and the UK, which is linked to economic uncertainty in Europe. Investors are eager to move their funds abroad, viewing Dubai as a safe and stable place with a reliable legal system.
