– Citywide Listings vs Transactions
On a citywide level, we are seeing the gap between listings and transactions begin to narrow as markets normalize. Based on the findings of two peer-reviewed academic papers, we can see that, post-COVID, the Dubai apartment market was largely a buyer’s market, and the Dubai villa market was predominantly a seller’s market. Both trends are now seeing a reversal, and a trend in the opposite direction.
– Luxury Analysis
Using Palm Jumeirah as a proxy for the wider luxury market, we can see that both apartments and villas experienced periods wherein they could be classified as seller’s markets. However, they are now normalizing and increasingly moving towards becoming buyer’s markets.
– Mid Market Analysis
Using Jumeirah Village Circle as a proxy for the mid-market returns a mixed bag of results. Smaller apartments and villas appear to be trending in favor of buyers, but larger apartments (three and four bedrooms) are shifting the other way. JVC on the whole appears to be more out of step with the general market trends. This discrepancy is likely due to activity occurring in newer mid-market communities and projects, which warrant their own separate investigation.