Dubai Retail Prices Set to Rise Steadily

According to a Reuters poll of analysts, Dubai retail prices are set to mostly rise steadily over the next two years, driven by demand from foreign investors.

When asked what will drive Dubai's housing market this year and next, a majority of respondents, 11 of 13, said demand from foreign investors. Two chose local demand.

The latest May 11-26 Reuters poll of 13 property market analysts showed a median rise of 7.5% in Dubai house prices in 2022, unchanged from the previous poll taken two months ago.

When asked what will drive Dubai's housing market this year and next, a majority of respondents, 11 of 13, said demand from foreign investors. Two chose local demand.

#Dubai house prices are set to mostly rise steadily over the next two years, driven by demand from foreign investors, according to a Reuters poll of analysts. pic.twitter.com/MvBG9r4pZr

— Dubai Media Office (@DXBMediaOffice) May 30, 2022

A strong two-thirds majority also said rents in Dubai, which houses a large number of expatriates, will be less affordable in the next two years.

However, price rises were expected to slow to 4.5% and 3.0% in 2023 and 2024 respectively, bringing stability to the market.