Dubai real estate, Dubai Marina, Dubai property
Property prices in Dubai are still nowhere near the bottom and are facing up to a 30 percent fall in value, according to Gulf real estate stock analysts.
"House prices in Dubai are likely going to slide downwards for the next two years as oversupply continues to build," Rasmala Investments senior real estate analyst Saud Masud told Arabian Business.
"I would put that number at around 25-30 percent downside on current levels. This may add to downward revision risk pertaining to rents from mall tenancy to residential occupancy."
Masud said superdeveloper Emaar could come under pressure, as short- and medium-term leases at Dubai Mall – where rents are higher compared to other malls – come to an end over the next three years.
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Masud said superdeveloper Emaar could come under pressure, as short- and medium-term leases at Dubai Mall – where rents are higher compared to other malls – come to an end over the next three years.
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