Dubai property market heading for another fall in the prices

The Dubai property market could fall as much as 10% during this year. The main reason is the decreased domestic demand as the result of falling oil prices. The other reason of this fall is the strong dollar which made Dubai property much more expensive for international buyers.

The house prices fell 13% in 2015. According to the Standard and Poor" for the United Arab Emirates (UAE) real estate sector, 2015 was the first year since the recession in which house prices declined. For coming year, we see no sign of improvement".

UAE is one of the most attractive foreign real estate market for Pakistani investors. The strong dollar has made it difficult for foreign buyers to invest heavily in UAE. If this trend continued for next couple of years then it will also affect the construction activities in UAE.