The Dubai real estate market is driven by active buyers who are ready to complete deals

The “Market Pulse” report issued by the “Property Finder” platform confirmed that the level of buyers’ confidence in the real estate market in Dubai remains stable, while the extreme caution regarding prices, which prevailed in the first half of the year, has begun to gradually decline.

The results of the latest version of the report, which is an opinion survey carried out every two months to measure consumer trends, as the report surveys the opinions of active real estate searchers on the platform regarding their purchasing intentions and their price expectations during the next six months, showed that the market is led by active buyers who are ready to complete deals.

The report stated that during the months of May and June, about 66% of the active searchers included in the opinion questionnaire reported that they were planning to buy a property during the next six months, and this desire also remained remarkably stable during this period, reaching 67% in May and 66% in June, which is a percentage close to the percentages of intention to purchase recorded in March and April, which amounted to 68% and 67%, respectively.

Property Finder stated that the months of March and April witnessed a peak in the percentage of people expecting a decline in prices, at 73% and 70%, respectively, but the latest data indicates a clear shift towards market stability. In May, expectations of a decline in prices fell to 63%, while 20% expected prices to remain stable, and 17% expected them to rise.

By June, expectations for price declines had fallen another seven points, to 56%, marking their lowest level this year since tensions in the region began. On the other hand, the percentage of those who expect prices to rise increased to 24%, with the percentage of those who expect them to remain stable at 20%.

Property Finder pointed out that this shift clearly reflects buyers’ perceptions in current market prices, as the average price per square foot remained almost constant during the two months, stable at 1,335 dirhams in May, and 1,334 dirhams in June, down from 1,393 dirhams in April.

Buyers’ perception of price trends has changed significantly over the year, but their desire to buy has not changed.

“Today we are witnessing a market moving from the initial hesitation that followed the tensions to a stage characterized by a practical, data-driven purchasing strategy,” said Sherif Soliman, Chief Revenue Officer at Property Finder. “When two-thirds of active property seekers commit to short-term purchasing plans, they are not just amateur shoppers, but serious buyers who are closely following actual market indicators.”

He added: “The continued decline in expectations of lower prices reveals that consumers realize that there is a realistic minimum in the market, supported by the stability of the price per square meter. “Instead of waiting for a sharp correction in prices that has not materialized, serious buyers are moving consciously to make their real estate choices, which demonstrates the true maturity and solid strength of the Dubai real estate system in the long term.”