The Dubai dream is on Pause. I love this country, its…
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The Dubai dream is on Pause.
I love this country, its people, its resilience, and the royal families, normies who built and continue to run it. They are truly commendable.
That said, I strongly feel that Dubai’s bull run is done, at least for the next one to two years, possibly longer. That is the reality, regardless of what you are hearing or being told. Places feel quiet, footfall is down, the expat crowd has thinned out noticeably, and the cost of everyday commodities is through the roof as if people were not already stretched enough.
And the numbers are backing this up. Dubai’s home price index dropped 5.9% in March, the first decline since 2020, following a 70% surge since the pandemic. Fitch Ratings has predicted a further correction through 2026, with prices potentially falling as much as 15%. Expats, who make up nearly 90% of the workforce, are leaving amid regional conflict and economic uncertainty, and their departures are already hitting consumer spending and business confidence. The Western crowd is not coming back in a hurry.
It is sad to witness, honestly. And the real irony? I just moved here.
#local
I love this country, its people, its resilience, and the royal families, normies who built and continue to run it. They are truly commendable.
That said, I strongly feel that Dubai’s bull run is done, at least for the next one to two years, possibly longer. That is the reality, regardless of what you are hearing or being told. Places feel quiet, footfall is down, the expat crowd has thinned out noticeably, and the cost of everyday commodities is through the roof as if people were not already stretched enough.
And the numbers are backing this up. Dubai’s home price index dropped 5.9% in March, the first decline since 2020, following a 70% surge since the pandemic. Fitch Ratings has predicted a further correction through 2026, with prices potentially falling as much as 15%. Expats, who make up nearly 90% of the workforce, are leaving amid regional conflict and economic uncertainty, and their departures are already hitting consumer spending and business confidence. The Western crowd is not coming back in a hurry.
It is sad to witness, honestly. And the real irony? I just moved here.
#local
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