Dubai property prices set to rebound in 2020 | ZAWYA MENA Edition:
The property market in Dubai may not see huge price falls this year despite the tens of thousands of new homes joining the market.
Property experts suggest that home sale prices will either ease or rebound over the next several months due to positive market sentiment and an expected decline in new project launches.
“Prices could see a rebound for reasons related to a possible end of a correction cycle and an emerging positive sentiment closely related with the expected improving economy going forward,” Haider Tuaima, head or real estate research at ValuStrat, told Zawya.
Property prices in the UAE have been falling since 2014 due to a combination of factors, such as a huge supply glut, negative investor sentiment, low oil prices and a strong US dollar. Since the end of 2015 alone, apartment and villa sales prices in Abu Dhabi declined by 29 percent and 11 percent, respectively.
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