Investors expect Dubai housing market expansion

According to a new survey by YouGov, 60% investors expect Dubai property market to grow in the next 12 months.

Organizers of the Cityscape Global real estate exhibition, the most significant event in the real estate world going to take place in Dubai from 8 to 10 September, commissioned a investors' expectations survey to the research firm YouGov. It revealed that 60% of respondents expect an upturn in the Dubai real estate market over the next year.

54% of respondents expressed overall positive sentiment with respect to the further market expansion, and 58% of respondents expect that the number of real estate sales, as well as rental prices will increase over the next 12 months.

YouGov’s head of real estate research, Lara Al Barazi, said the study highlighted “positive sentiment across the board”. “The most positive news is the extent of trust investors place in the residential property market, which reveals the high potential this sector has and the importance of understanding what appeals most amongst prospective buyers.”, she said.

Meanwhile, other industry analysts, such as Jones Lang LaSalle and Cavendish and Maxwell, do not share this great optimism and believe that prices in sales and rentals segments in Dubai will still be declining.

Other important results of the YouGov survey, which involved more than 800 UAE residents, revealed that location remains the most important decision-making factor to the most consumers buying property in Dubai. Apartments and houses located near convenient transport interchanges and public transport stops are of the greatest demand (as indicated by 56% of respondents), proximity to grocery stores is important for 44% of home buyers, and proximity to a large shopping mall is valued by 41% of real estate investors. Smaller apartments, like studios and one-bedroom apartments were also growing in popularity in Dubai due to their affordability.

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