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The Chairman Of A Dubai Brokerage Says The Real Estate Market Will NOT Dip
A very HOT topic across the country right now is real estate. Everywhere you look, you see developers launching a new project that will “revolutionise the Dubai real estate forever.” You also see real estate agents all over social media, showing you fancy villas on the Palm. The talk topics of Dubai mainly include the weather and the real estate market.
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Recently, Fitch Ratings released a report that claimed the real estate market in Dubai will start to dip by this year because of an oversupply in home handovers.
The Chairman of the Dubai-based real estate brokerage Allsopp & Allssop, begs to differ
Before getting to what Lewis Allsop said, here’s what Fitch said:
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Dubai Faves Around the World: 11 Must-Try Restaurants This SummerDubai’s real estate market will “likely face a double-digit fall.” Why? Because Dubai is set to deliver 210,000 homes in 2025 and 2026, leading to more supply than demand, hence, lowering the prices down.
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The comments are flooded with arguments from both sides, but here’s what industry expert Lewis said…
“The Dubai property market will not be dipping 15%”
He believes that the growing population will keep up with the number of homes projected for handover in 2026. In fact, he thinks there won’t be enough! In an Instagram video Lewis wrote “The population is growing at its fastest ever pace, the schools are over subscribed, the roads are busy, the malls are bursting at the seems all of this show a really healthy future for the Dubai market…”
He lays out the facts and numbers in the caption.
Yet, people are still debating whether the market will rise or fall, and only time will tell!
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