Oversupply issues in #Dubai set to continue with 49,000 new units expected in 2020 - Arabianbusiness

Oversupply issues in Dubai set to continue with 49,000 new units expected in 2020 - Arabianbusiness:

Oversupply in Dubai’s real estate market looks likely to continue, according to the annual market update from Core.

The Dubai-based real estate outfit revealed over 32,000 units were brought to market in 2019 – the highest number of residential handovers in the last decade - taking the total residential stock in the emirate to 550,000 units.

While Core has “conservatively estimated” that over 49,000 units will be delivered in 2020, with a particular focus on MBR City, Dubailand and Dubai South. 


Prathyusha Gurrapu, head of research and advisory at Core, said: “We continue to witness increasing downward pressure on prices due to record supply volumes across all asset classes and the wider global economic and regional geo-political uncertainty.”