Foreign investors and well-heeled expatriates helped transform Dubai’s housing market into one of the world’s hottest. Now values are falling for the first time since the global pandemic as the regional conflict weighs on demand.
A home price index compiled by ValuStrat fell 5.9% in March from a month earlier, with valuations seeing their first decline since 2020, according to the Dubai-based property consulting and valuation company that’s used by some of the country’s large banks. Even with that drop, the gauge is only back to where it was six months ago.
