Dubai Property Market Slumps
The ongoing conflict has caused a noticeable slowdown across vital sectors in Gulf economies, especially energy, trade routes, logistics, finance, and tourism.
Within the first 20 days of the war, the extent of regional economic disruption became increasingly apparent. Dubai’s real estate market has suffered due to the crisis, which started with US and Israeli strikes on Iran on Feb. 28 and was followed by Iran’s retaliatory attacks.
Dubai, long known as a global center for tourism and property investment, had drawn international buyers seeking "high returns and tax advantages," but the intensifying conflict has dampened housing demand.
Data from DXB Interact indicates that housing sales fell to 6,129 units during the two weeks from March 2 to 16, down from 8,199 between Feb. 16 and March 1 – marking a 25% reduction.
Transaction volumes also experienced a 25.7% drop, decreasing from $7.55 billion to $5.61 billion over the same timeframe.
At the same time, the Dubai Financial Market Real Estate Index, which monitors listed property companies, has seen a decline of more than 25% over the past month.
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