Dubai: Nobody is talking of an “immediate” recovery for Dubai’s property market this year. But it’s not the same as saying there will not be some green shoots of recovery.
The GCP-Reidin report reckons there will be “selective” gains visible in the market, with some communities actually recording a turnaround in property values.
This, the consultancy says, will be helped by developer incentives and locations such as Jumeirah Village Circle and Al Furjan likely beneficiaries.
In its recent update, Asteco suggested a recovery of sorts might be visible towards the end of the year, but current weak conditions will prevail in the coming weeks and months.
Savills’ on Monday estimated a 5-10 per cent decline through the year, more or less in line with what was seen in 2018.