{"id":39057,"date":"2016-12-27T11:28:21","date_gmt":"2016-12-27T04:28:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-homes-at-their-cheapest-in-5-years\/"},"modified":"2016-12-27T11:30:29","modified_gmt":"2016-12-27T04:30:29","slug":"dubai-homes-at-their-cheapest-in-5-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-homes-at-their-cheapest-in-5-years\/","title":{"rendered":"Dubai homes at their cheapest in 5 years"},"content":{"rendered":"


\nLow oil prices and a strong US dollar are banes for the emirate
\nBurj Khalifa rises above the busy streets of Dubai.\u00a0Dmitry Birin \/ Shutterstock.com
\nThe transaction volume of off-plan and existing homes in Dubai in the third quarter stood at 900 units, Mansion Global reported, citing a report last week by Phidar Advisory. This is the lowest level recorded in the emirate since 2011, the UAE-based research firm noted.
\nIndia and Saudi Arabia, the two most dependable sources of investment in Dubai, are purposely missing out on the emirate\u2019s property cache this cycle around.
\nHistorically low petroleum prices are driving a wedge between Arab buyers and Dubai residential real estate. Indians, on the other hand, are put off from investing in Dubai homes because of the depreciating dirham, a currency that is\u00a0not pegged to the US greenback.
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\n\u201cThe recent interest rate hike by the US Fed will likely support US dollar strength and, combined with a still relatively low oil price, will continue to constrain investment demand for Dubai real estate in the coming year,\u201d Jesse S. Downs, managing director at Phidar Advisory, said.
\nIndia and Saudi Arabia are the largest investors in Dubai properties in H1, with AED7.3 billion (USD2 billion) and AED2 billion (USD544 million) in investments, respectively, according to Dubai Land Development.
\nPhidar reported an increase in transaction volumes in Dubai homes in November from September, but this is likely only \u201ca reflection of seasonal variance,\u201d Downs said.
\nJob cuts are increasing occurrences in the emirate, with low-paying industries among the most active employment generators, she observed. This will curb rental inflation, and in turn depress transaction values.
\n\u201cIt seems stakeholders forget to ask the simple question: who will live here and why?\u201d Downs told The National.
\nRead next: Dubai: 4 things we know so far about its slumping market
\n
\nSource : property-report.com
\nRead more…Dubai homes at their cheapest in 5 years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Low oil prices and a strong US dollar are banes for the emirate Burj Khalifa...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-39057","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-a9X","jetpack-related-posts":[{"id":160094,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-population-hits-4-million-mark-as-emirate-targets-5-million-by-2030-report\/","url_meta":{"origin":39057,"position":0},"title":"Dubai population hits 4 million mark as emirate targets 5 million by 2030: Report","date":"August 28, 2025","format":false,"excerpt":"\r This surge will create demand for around 350,000 new homes in Dubai\r \r Source : arabianbusiness.com\r Read more...Dubai population hits 4 million mark as emirate targets 5 million by 2030: Report","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/08\/Dubai-skyline-with-Burj-Khalifa-1000x667-2.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":20672,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/has-the-dubai-property-market-turned-house-prices-in-the-emirate-edge-up\/","url_meta":{"origin":39057,"position":1},"title":"Has the Dubai property market turned? 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