Dubai Property News Round-Up February 2018
Published on 2018
Dubai Luxury Property Show Coming to London this month
London’s prestigious Dorchester Hotel will host the Dubai Luxury Property Show on 24th and 25th February. The event will showcase a selection of the Emirate’s most glamorous and luxurious residencies, with 7 branded luxury developments and 4,000 properties on offer.
Properties will include 5 star hotel apartments in the breathtaking Burj Khalifa, luxury homes in elegant golf estates and the world’s first ever Roberto Cavalli villas.
What Oil Price Reverse Means for Dubai Property: Arabian Business
As predicted by the IMP, the GDP growth forecast across the UAE has accelerated from 1.5% to 4.4%. A diverse economy, combined with a strong infrastructure, wealth from abroad and political stability have enable the UAE economy to stay resilient to the impact of the drop in oil prices.
Whilst oil has played an obvious role in the economy, the impact of the slump is unlikely to affect the Dubai property market- this is a great time to buy thanks to lower prices and steady yields.
Dubai luxury property oversupply will prevent rapid rebound, says Phidar: Arabian Business
As oversupply remains a trend in the luxury market, overall property prices in Dubai will take longer to increase. It’s also likely to a delay in construction schedules, with some projects taking up to a decade to complete, according to Phidar.
Special Report: It’s A Renter’s Market in 2018: Gulf News
Property experts predict that rental rates will drop even further during 2018. Leading property consultants cite supply and demand pressures and higher living costs as among the biggest reasons for the drop in rental yields, making this the perfect time for tenants to negotiate a good deal. More than 20,000 new apartments are due to arrive in Dubai this year, pushing rents even lower.
Property Launches Come Thick and Fast: Khaleej Times
After a worryingly quiet start to the year, developers in Dubai are presenting buyers with a wealth of exciting opportunities during February alone. The luxury end of the market in particular is seeing increased activity, with two launches on Palm Jumeirah taking place during the week commencing 12th February. Boutique developer Innovate Living is launching its flagship development Palme Couture Residences, featuring 14 luxury suites and a stunning seven bedroom penthouse.