Dubai property: More home buyers foresee prices dropping

Dubai: More potential property buyers in Dubai expect to see prices drop in the coming weeks - and which will help them with their purchase decisions.

New findings in a Property Finder survey show 44% expecting Dubai residential property values to cool down, while 26% think that prices will stick to current levels. And 30% of those polled believe prices will actually go up.

That compares to the earlier survey done in May when potential buyers 'were fairly divided - 37% believed prices would decline, 34% expected increases, and 29% anticipated stability'.

The Dubai property market continues to see sizable buyer activity month-on-month, but certain price dynamics too are showing up. Some locations are starting to see price stability, and there have also been occasions when asking prices had to be cut to seal a deal.

With 44% expecting a price drop, 'This shift suggests a growing perception that recent price surges may be easing, a sign of a more mature, considered view among home seekers and buyers as the market continues to evolve', says the Property Finder survey.

But the one constant factor is that there are new property buyers wanting to come in.

"Nearly three in four respondents (72%) in May indicated plans to purchase property within six months," the report adds.

"This momentum continued into June, with 69% maintaining buying intent, signalling consistent underlying demand to buy."