Dubai: A cabinet of real estate curiosities
Source: REIDIN , Author: Posted by BI-ME staff
Posted: Sun July 2, 2017 3:18 pm

UAE. Since the beginning of the 2015 fears of an 'over supply' have captured the zeitgeist of investors. Recent data published from the Dubai Statistics Center reveals that in 2016 population growth exceeded the housing stock growth by more than 2:1.

Whilst this comparison is spurious as it does not account for occupancy levels on the supply side, the outpacing of supply growth relative to population growth was highlighted as one of the concerns to look out for.
 
However, in 2016, despite headline announcements of "layoffs" across various sectors in the Dubai economy the population has continued to rise, doubling its historical average of 5%. The job creation in other sectors such as entertainment and tourism have over-compensated for the loss of jobs in sectors such as Banking and Finance.
 
Transactional activity has been leading indicator to prices in various investment markets including real estate. Over the last 5 months in 2017 we have seen steady uptick in transactional activity compared to the same period last year.
 
A bi-variate analysis of transactional activity and prices reveals that the strength of the correlation increases substantially with a lag. Over a 12 month lag the correlation between both variable is +0.45, suggesting that if transactional activity continues to ratchet higher we can expect city wide price escalation in the coming months.
 
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Click here to read this article complete with graphs on the REIDIN website

About REIDIN
REIDIN is the leading real estate information company focusing on emerging markets. REIDIN offers intelligent and user-friendly online information solutions helping professionals access relevant data and information in a timely and cost effective basis.

For more information, pleased visit www.reidin.com

About Unitas
Unitas believes in in-depth planning and discipline as a mechanism to identify and exploit market discrepancy and capitalize on diversified revenue streams. The purpose of Unitas is to manage, direct, and create wealth for our clients.

For more information, please visit www.unitasconsultancy.com

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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