The construction boom in Dubai has been going on for several years now. It seems that it is time to answer the question: is it really necessary to buy or rent all these complexes?
In reality, the supply needs to increase by another 10-20%. Otherwise, prices will not decrease, local developers comment.
“When the largest developer sells out all the properties in just 4 hours, and the seventh largest in 3 days, this shows that demand significantly exceeds supply. To make Dubai more affordable, we need to increase supply, as there is a shortage in the market”, commented the development company Samana Developers:
News regularly appear about the sale of entire complexes within 24 hours, and prices continue to grow at the fastest pace in 10 years. Even analysts from the Swiss bank UBS did not see a risk of a bubble forming here.
Dubai is not yet oversaturated, and more construction may need to be done, analysts conclude.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen HERE