No Fears of Real Estate Bubble in Dubai Says UBS Survey
Property Prices in Dubai are “Fair” says UBS Global Real Estate Bubble Index. In the latest “Global Real Estate Bubble Index”, the Swiss Bank UBS says no fears of the real estate bubble in Dubai.
This is still the best time to buy a property in Dubai at “fair value”, even though the property prices in Dubai are yet to decrease.
The report also highlighted Dubai’s real estate situation and said:
“Affordability has improved even though incomes have declined amid slower economic growth,”
“Despite posting the strongest population growth among all cities in the study, the market remains oversupplied.”
“Easier visa requirements and next year’s Expo should support the market.”
Head of UBS Global Wealth Management at Central and Eastern Europe, the Middle East and Africa, Ali Janoudi said:
“After peaks in Dubai’s housing market in 2008 and 2014, prices have fallen by almost 35 percent. We expect prices to find a bottom soon but we would still encourage all investors to be diligent in their real estate research.”
Source: gulfnews.com & arabianbusiness.com
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