Dubai Property News

Dubai can absorb 25,000 new homes a year

by Mark Benson on March 7, 2014

Dubai can absorb 25,000 new homes a year

Dubai can absorb 25,000 new homes a year

While there is much speculation about the short to medium-term outlook for the Dubai real estate market, a report by Citibank has today cast an interesting light on Dubai property. At this moment in time the population of Dubai is rising by 7% per annum and current construction levels equate to 25,000 new properties the year. Citibank believes that the real estate market can absorb 25,000 new properties per year without impacting on current occupancy rates. However, there is a proviso to these figures.

It appears there are a number of “mega-developments” on the horizon in Dubai which could significantly impact the balance of the real estate market. So, what is going on? Is there a real danger of a property price bubble? Are there any similarities to the 2008 Dubai real estate market crash? [click to continue…]

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