Anticipated moderation in Dubai’s real estate rental growth for 2024 due to a surge in new property supply. Savills Middle East projects over 20,000 residential units to be completed this year, following 47,000 launches in the previous year.
With more than 50% of new projects concentrated in Dubai South East, significant price growth is unlikely citywide. Due to the upcoming supply influx, rental growth is expected to slow in select peripheral areas.
Despite this, rents are not expected to decrease but rather stabilize with improved housing supply, keeping demand healthy amidst Dubai’s economic growth and expatriate workforce.
Source: Arabian Business