Foreign demand to keep Dubai property prices on steady upward course: Reuters poll | Reuters
Dubai house prices are set to mostly rise steadily over the next two years, driven by demand from foreign investors, according to a Reuters poll of analysts, who cautioned that higher interest rates and lack of affordable homes could curb activity.
With an economic rebound propelled by higher energy prices and a revival in trade and tourism, the Dubai property market shrugged off a long streak of falls last year and has held on to upbeat momentum since then.
The latest May 11-26 Reuters poll of 13 property market analysts showed a median rise of 7.5% in Dubai house prices in 2022, unchanged from the previous poll taken two months ago.
Market sentiment, lifted by the pandemic easing, "coupled with the successful hosting of the World Expo, the reopening of travel corridors...continues to underpin the market's rebound," said Faisal Durrani, head of Middle East research at Knight Frank.
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