Dubai’s real estate space: Is demand catching up?

Dubai’s real estate space: Is demand catching up?

The moot point of any discussion surrounding Dubai's property market - for some years now - has been the topic of oversupply, especially in the residential space.

According to a recent report by Knight Frank, new supply in Dubai's residential space has grown steadily - from 12,900 units in 2015, to 18,100 units in 2016, 27,700 units in 2017 and 28,500 units in 2018.

The number of new homes forecast for completion in Dubai this year is 50,700 units - marking an increase of 40 per cent from the roughly 36,300 units added to the market in 2019. The report, which looked at property hubs across the globe, found that Dubai came second on the list (after Hong Kong, at 53 per cent) when it came to the addition of new