'Property sector won't be phased by oil price slide'

25.01.2015
Declining average annual oil prices could impact the GDP as soon as Q3-16, although this trend is unlikely to directly impact Dubai real estate prices, according to a recent report.

The UAE’s real estate sector has been showing no signs of panic attacks over the collapse of oil prices in recent weeks, according to a Gulf News report. 

 There have been no reports of investors suddenly trying to offload their properties fearing an imminent correction, nor are there indications that asking prices are being slashed in the hope of making a deal at any cost.

‘Declining average annual oil prices could impact the GDP as soon as Q3-16, although this trend is unlikely to directly impact Dubai real estate prices’, according to a recent report from Phidar Advisory. ‘No correlation was found between oil prices and real estate prices or GDP and real estate prices, which are a function of supply, demand and market psychology.'


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