Skip to content
Subscriber Only

Behind the Sizzle of Dubai Home Boom, Key Vulnerability Persists

  • Property glut has been a drag on prices during 7-year downturn
  • Alabbar says price jump could spur construction, excess supply

It was a year of milestones for Dubai’s property market even before the emirate kicked off its $7 billion Expo this month.

Average home prices are rising at the fastest pace since February 2015, with transaction volumes surging nearly 77% in August from a year earlier -- up over 56% when compared with the same period in 2019, before the pandemic hit, according to real estate adviser CBRE Group Inc.