UAE's real estate market is deflating. At least that's' what real estate consultancy JLL Mena says.
“[However], this time’s different from 2008 — there are far fewer developers and they are being smarter second time around,” said Alan Robertson, CEO of JLL Mena. “They are keeping an eye on the demand side better and have in place better methods to gauge it. They are also getting better at tweaking the mix of the coming supply.
JLL has issued a report detailing eight key trends that could show up on the UAE’s real estate radar this year, which would be a period of ‘welcome stability’ and during which residential values could soften by ‘up to 10%.