Dubai Real Estate Bounces Back

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In Dubai's real estate market, an imbalance between housing demand and supply had led prices to drop more than 30% since 2014. In 2019, this led the government to set up a committee to check oversupply. 

The pandemic compounded the unsold inventory problem last year with many non-residents leaving Dubai, depressing housing demand to new lows.

But the last few months have acted like first rain on dusty windowpanes. 

A Solid Comeback

Per Khaleej Times, with a strong recovery on cards, Q3, 2021 witnessed the highest-ever housing transactions since 2009 with 15,926 deals worth Dh42.35 billion. 

Also, by the end of September, about 43,299 transactions amounting to Dh104.3 billion have been recorded in the year 2021. 

Who's Buying?

During 2020, when the Covid-19 was at its peak, the Dubai property market still showed resilience and continued to attract foreign investment. 

By countries, Indians topped the charts, while Chinese, British, Pakistani and French investors also held on to top slots in terms of real estate investments.

Lately, data indicates that Israeli investors have entered the market this year big time, and may join the top-10 club with significant buy ins. 

And Why?

Experts believe that recent visa reforms, successful pandemic management, and vaccination drive are among the top reasons that supported the return of foreign investors to Dubai's property market in 2021.