JLL, a consulting and investment firm, has predicted that house prices in Dubai will continue to decline in 2021 and 2022.
The Dubai market has been continuously working to eliminate the surplus supply that has burdened property values since 2014. Dana Selbak, Head of Research at JLL Middle East and North Africa, stated that we have not yet reached the bottom. It is likely that we will see a decline in prices between 5% to 8% over the year, as supply remains under control and developers continue to schedule and complete their projects gradually instead of flooding the market.
