Page 75 - SOBHA REALTY PR REPORT NOVEMBER 2023

Gurrapu foresees waterfront locations such as Palm Jumeirah and Jumeirah Bay and
established districts including Downtown Dubai to continue witnessing relatively higher
price increases next year.

According to Moody’s Investors Service, property prices have increased by about 15 per
cent in Dubai and Abu Dhabi since the second quarter of 2021 and UAE real estate

market conditions will remain healthy in the next 12-18 months, but demand will be
slower than the past two years.

Lower prices

Prathyusha Gurrapu expects prices in upcoming areas such as Dubailand and

Mohammed bin Rashid City where major handovers are expected, to foresee relatively
lower price increases.

“The government’s continued push to make the city attractive to investors, tourists and
residents is expected to underpin the positive market sentiment, job creation and in-turn
population growth across income segments.

“We expect global wealth to continue gravitating to Dubai due to its favourable socio-

economic positioning and developers launching products to cater to this demand
resulting in high-ticket transactions. We also foresee overall transaction volumes to be
steady due to a strong owner occupier and investor demand,” she added.

https://www.khaleejtimes.com/business/realty/dubai-heres-why-property-prices-will-continue-to-rise-
in-2024