Property Price Trends in 2021, Dubai

Property Price Trends in 2021, Dubai
The city’s real estate sector has been weak for years due to oversupply coupled with low economic growth.

Raising Hopes for a Region Heavily Dependent on Tourism
- Dubai eased Covid-19 restrictions.
- Allowed hotels in the hub to operate at full capacity.

Improved Investor Confidence
- Boost in demand as prices have been on the lower side for the last few years.

The Covid-19 Pandemic
- Vaccination drive here also has been going well, and the economy has been gradually recovering amid government measures to spur growth.
- From a survey, Dubai house prices would rise 1.1 %, this year and 2.8 % next, marking a complete U-turn in expectations, when prices were forecast to decline 2.0 % in both years.

Buyers Take Advantage of Low Prices
- Easy credit.
- Economy opens for business.
- Increase in demand was the biggest upside risks to housing market activity.

Dubai's Economy: Projected to Grow 
- Statistical data shows 4.0 % this year after an estimated 6.2 % contraction last year.
- Real estate sector has shown an uptick recently, contributing about 8 % to economic output.
- Real estate market continues to flourish and very buoyant. 
- Have an effect on the housing market and more government incentives come into fruition to stimulate the economy. 
- Covid-19 lingers longer than expected, effects economic growth and tourism to the emirates.