More property than people? Oversupply in Dubai Could be a problem.
More property than people? Oversupply in Dubai Could be a problem.
Your concern about oversupply is addressed by looking at statistics to support a conclusion.
Here is a complimentary call with me to discuss this market in more detail:
https://calendly.com/cobus-gccd/letstalkproperty
Data: https://dxbinteract.com/dubai-property-supply
Dubai Vision: http://dubai2040.ae/en/
Chapters
00:00 Introduction
00:30…
source
Reviews
0 %
![Keige Afakasi – 684 ORIGINATED [Official Music Video]](https://i0.wp.com/res.cloudinary.com/glide/image/fetch/https%3A%2F%2Fi.ytimg.com%2Fvi%2FtGxfxOgzmAg%2Fhqdefault.jpg?w=1200&resize=1200,0&ssl=1 "Keige Afakasi – 684 ORIGINATED [Official Music Video]")
https://calendly.com/letstalkproperty/30min
One house accomodate 5 to 6 people
Why would 4.8 million people would like to relocate to Dubai…. ? These are not kids from parents living in Dubai that when grow older will want a new unit for themselves. This are mostly new comers, and please note that some people go away. Lots of people go away, they will not stay in Dubai until they die (very few expats will do).
Dubai should have stuck to the monaco or swiss model where the maintain 2-3 mill people who are mostly wealth attracting 7-8 million people means u will have a substantial middle and lower class as well which makes it more likr a NYC or London
Mate, there are 1.2 billion increasingly affluent Indians on the doorstep of UAE and say 12 million in UAE….any correction will be temporary.
One of the important piece of data I ever want to look at is the occupancy rate in freehold residential property, and that will convey everything which for some reason, is never published.can you please answer this question?
Love how you manage to make us realize the actual truth of Dubai real estate without speaking negatively about it. good work. Makin money in real estate in Dubai is a long term process, 20 years at least to start considering it profitable. So for the short term I think I'll stick to other investment opportunities other than Real Estate.
Well your analysis is flawed because you assumed that the target of 7.8M by 2040 will be achieved. Looking at annual net migration, i am highly skeptical.
Simple math to get a biased result. Problem is that you don't take into account the current occupancy rate which is not public by the way. The secondary market time to sale a property…plan is about 6 millions I believe. It's a vision which bind only who believes in it.
I am interested in Dubai
Is that true that real rich people live in UAE?
Hi, seems to me you are missing half of the equation. Meaning how is Dubai doing on it population growth target? Unit supply is something that can easily be adjusted. And purchasing power as well by modifying mortgage rules … but having people moving in and stay is something else. So I wish you also have analyzed population growth, trend of average years presence in the city…profile of this population (single, families etc…) this would tell a lot more about the outlook if not for the next 10-15 years, maybe for the next 5..thanks
I actually am/was thinking seriously about expanding my (green) biotech startup company to dubai but honestly the legal situation what is allowed and what is not allowed is so complex and confusing I dropped my plans, and even saying this openly here gives me this weird feeling I would be critical of dubai (which I am not, its a business decision), not sure whether this will have negative consequences, and thats exactly the problem, it makes me feel uncomfortable
OHHHHHHHHHHH GUYS . AT LAST A GOOD QUESTION.. DONT YOU SEE GUYS THERE ARE "THOUSANDS" PROJECTS THROWN IN THE MARKET EVERY SINGLE DAY ???? Of course the SUPPLY IS MORE THAN THE DEMAND many Realtors lie.. (to sell is their job) .. selling off Plan? Always the same story.. why a new buyer should buy your property paying you a profit gain when there are tons of new projects every week? Too many.. i think they're trying tò create a fake demand to make you believe THERE'S a real one.. but it's not true.. Im in Dubai at the Moment.. Marina Dubai.. and in any area.there are new projects.. everywhere.. but people stay at the most 15 days in HOTELS and then they go away .., Sometimes I wonder if it'd be better tu buy a hotel room and renting it.. but the prices are fakely expensive as an apartment…🤦🤦🤦🤦
Supply is 200,000 new units from mid 2022 to mid 2024 over the last 24 months. 50,000 units last 6 months of 2022, 100,000 units in 2023 and 50,000 units in first 6 months of 2024. 100,000 units per year is a lot. It will not be a crash because most of these units are purchase for golden visa for vacation home etc… However rent will probably decrease a little bit and I think the government of Dubai wants them to decrease to be more competitive… Otherwise people will not come in large number if rent keep increasing. Most people in Europe are interest in Dubai because real estate is very cheap… if it becomes expensive we will not be interest anymore and I think the government of Dubai is smart and know it. So the government will probably increase supply unlimited in order to keep off plan average price around 1000 – 2000 psf ( we are currently at 1,700 sqf). So they can achieve population growth target.
Beware of Dubai South and the problems residents are facing because of the Sewage treatment plant emitting Intense sewage gases and coming into homes. The Pulse District and South Bay beware! The plant is only visible when zooming directly into it's location. The Intensity and frequency of the gases is increasing from 10pm – 9am and it's so intense that residents can't sleep and are getting headaches. The gases are in the air and are suffocating. Too many owners of the units and an unwillingness to post about this issue affecting residents just like the International City plant that made residents sick
Love the use of stats and future planing. Question that we could talk about is also the building of the new air port. Increased tourism, which both will create a higher demand for property that are being used as air bnb
Well done, caption suggested something stupid but these figures do support the reasons why Dubai is still very early in growth spurt
I went to book a 1bhk unit recently for a new Tower launch on Sheikh Zayed Road and dint get even a chance to offer a price and all the 188 units in the tower was sold out in 24 hours .
Project name : One B Tower
Developer : Al Wasl
Location : Sheikh Zayed Road Dubai
So there is no chance the Demand is going to reduce in the near future !
"Selling overhyped Dreams" selling sand as gold dust alot people have FOMO. Sooner or later prices will naturally settle and lot of people will be in negative equity
this video is delusional…and your findings are not even close to reality
Hey Cobus, enjoyed the video! I’m curious to know when the combined supply from ongoing projects and those in the pipeline will reach the required 51k units + Given the decline in supply handed over this year, it seems likely to catch up in the coming months alongside ongoing and pipeline developments. It would be great to see a trendline on this. If we’re nearing breakeven, what should investors watch out for to avoid getting caught up in the hype? With your local experience do you think the government might intervene by halting permits for new projects?
Also, is the decline this year due to bad weather and infrastructure issues that surfaced recently?
there are plenty of new projects right now with unsold units….even projects already handed over….sitting for months in the market….your theory based on a population figure that may be meet in 16 years is highly speculative.
May I know from where you got 7.8m people by 2040 in Dubai?