Property prices are down in Dubai. Is it a war-induced blip, or something more serious?
Dubai's real estate market is experiencing a significant downturn, with transaction volumes dropping sharply in early March. This correction, predicted by Fitch Ratings, is attributed to a combination of factors including weaker economic activity, reduced tourism, and slower population growth, exacerbated by geopolitical tensions. The off-plan property market, heavily reliant on overseas investors, has seen the most pronounced impact, with prices falling below original values. AI
