Dubai property market is currently in the upswing stage

Dubai property market is currently in the upswing stage

Perhaps the most common question I receive from various real estate market stakeholders is this: “What will the real estate market look like in X number of months, or even years?”

To give precise and unbiased answers to these kinds of queries require one of two things. Either we use a time machine by which we travel to the future, take our notes, and come back with our analysis, or an easier method would be to consult a crystal ball and see what it tells us, and report back. Unfortunately, I don’t have access to a time machine, but I do have a crystal ball; however, it proved to be a bit unreliable.

For the above reasons, a precise answer to the question would be unachievable; however, providing an unbiased and educated best-guess market forecast is very much feasible. Accomplishing this requires looking backwards first, analysing market trends, and then giving an estimate of what’s to come.

In general, real estate markets, particularly mature ones, go through four-stage cycles. Starting with the trough stage, also termed the buyers’ market, property prices and rents would be at their lowest levels. Dubai witnessed that stage in 2009 and 2020. Recovery is the next stage in