New Dubai property projects ‘at saturation point’ after ‘torrent’ of announcements | The National:
"Sales prices for apartments and villas continued to decline in the third quarter of 2015 amid a “torrent” of newly announced projects, according to research firm Phidar Advisory.
The company said that the quantity of announced residential projects had reached “saturation point”, with the supply currently growing at an average rate of 3.9 per cent, outpacing demand, which currently sits at 3.7 per cent. Its five-year demand pipeline forecasts robust jobs growth of 5.8 per cent a year, as a result of new roles due to be created for both the development and servicing of Expo 2020-related projects.
If all of the launched and announced projects are built, supply would continue to outstrip demand, standing at 5.9-6.7 per cent growth per year. Yet Phidar Advisory estimates that actual supply growth will be around 2.8 per cent per year."
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