According to Global Property Guide, Dubai real estate prices climbed 10% in Q1 against Q4, and 32% YOY — easily the largest jumps in the world.
The IMF warned last month of “unsustainable price dynamics and an eventual correction,” and that megaprojects could create risks to Dubai’s government-sponsored entities, which are looking at debt levels of 141% percent of Dubai GDP.
Bloomberg reported the country’s central bank recently said rental yields in Dubai, as well as Abu Dhabi, had fallen below historical averages while real estate prices rose, suggesting the market may be imbalanced.
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