{"id":24060,"date":"2019-02-27T10:18:28","date_gmt":"2019-02-27T06:18:28","guid":{"rendered":"https:\/\/www.propertyfinder.ae\/blog\/?p=24060"},"modified":"2024-07-23T10:52:23","modified_gmt":"2024-07-23T06:52:23","slug":"dubai-may-see-handover-of-47500-homes-in-2019","status":"publish","type":"post","link":"https:\/\/www.propertyfinder.ae\/blog\/dubai-may-see-handover-of-47500-homes-in-2019\/","title":{"rendered":"Dubai may see handover of 47,500 homes in 2019"},"content":{"rendered":"<h2 class=\"wp-block-heading\" id=\"h-total-residential-supply-for-2018-amounted-to-21-014-units\">Total residential supply for 2018 amounted to 21,014 units<\/h2><figure class=\"wp-block-image\"><img decoding=\"async\" width=\"700\" height=\"450\" src=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/02\/PR_Blog_Feb_27_2019.jpg\" alt=\"The year-on-year drop in prices coupled with additional supply and subdued demand means we can expect more price declines in 2019. \" class=\"wp-image-24069\" srcset=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/02\/PR_Blog_Feb_27_2019.jpg 700w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/02\/PR_Blog_Feb_27_2019-400x257.jpg 400w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/02\/PR_Blog_Feb_27_2019-300x193.jpg 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><figcaption class=\"wp-element-caption\">The additional inventory will help tenants to negotiate for more competitive rents.<\/figcaption><\/figure><p>Research  by Property Finder has found that 21,014 residential units, comprising apartments, villas and townhouses, were completed by the third quarter of 2018. <\/p><p>This has\nbeen more than the number of units handed over in the past few years, and the\ninventory will help tenants to negotiate for more competitive rents. However,\nthe year-on-year drop in prices coupled with additional supply and subdued\ndemand means we can expect more price declines in 2019. This bodes well for\nlong-term renters who can now consider home ownership.<\/p><ul class=\"wp-block-list\">\n<li>At the end of 2018, 33,982 residential units were under construction in Dubai with a completion status of at least 65%<\/li>\n<\/ul><ul class=\"wp-block-list\">\n<li>Southeast and southwest parts of Dubai are seeing the most activity <\/li>\n<\/ul><p>Until\nOctober 2018, there were an additional 14,707 residential units with a 95 to\n99% completion status. However, only 1,187 of those units were completed by the\nend of the year. The &ldquo;Property Finder Trends&rdquo; report estimates the remaining\n13,520 units to be completed in the first half of 2019.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&ldquo;With the considerable amount of supply already released into the market, and the upcoming supply through 2022, the prices we are experiencing today are the new normal&rdquo;. <\/p>\n<\/blockquote><p>There is\nmore residential supply to add to this spillover stock. At the end of 2018,\nProperty Finder research found 33,982 residential units under construction in\nDubai with a completion status of at least 65% and completion scheduled for\n2019. <\/p><p>Adding\nthe 13,520 units that were to finish in 2018 to the figure slated for 2019,\n47,502 units are likely to be handed over by the end of 2019. Although so many\nhomes are unlikely to be completed, the rate of handovers has increased over\nthe past year and it will continue in 2019 as developers rush to complete\nprojects ahead of Expo 2020. <\/p><p>&ldquo;While\nmany believe we are in a slump and property prices will go back to pre-2016\nlevels, the reality is that with the considerable amount of supply already\nreleased into the market, and the upcoming supply through 2022, the prices we\nare experiencing today are the new normal. We can expect prices to decline\nfurther in 2019 as the market absorbs the immense amount of supply that came in\n2018, and what will complete in 2019,&rdquo; says Lynnette Abad, Director of Research\nand Data, Property Finder.<\/p><p>Overall,\nthe southeast and southwest parts of Dubai are seeing the most activity with\nongoing developments such as Reem&rsquo;s Mira Oasis, which will have 1,393 units in\nthree phases once it is complete, the &ldquo;Property Finder Trends&rdquo; report adds. <\/p><hr class=\"wp-block-separator has-css-opacity\"><p>This article was co-written by Carla Maria Issa and Lynnette Abad from Property Finder.<\/p><div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div><div class=\"wp-block-media-text alignwide\" style=\"grid-template-columns:19% auto\"><figure class=\"wp-block-media-text__media\"><img decoding=\"async\" width=\"563\" height=\"563\" src=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/01\/Carla-Maria-Issa.png\" alt=\"CARLA MARIA ISSA\" class=\"wp-image-22710 size-full\" srcset=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/01\/Carla-Maria-Issa.png 563w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/01\/Carla-Maria-Issa-200x200.png 200w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/01\/Carla-Maria-Issa-300x300.png 300w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2019\/01\/Carla-Maria-Issa-65x65.png 65w\" sizes=\"(max-width: 563px) 100vw, 563px\" \/><\/figure><div class=\"wp-block-media-text__content\">\n<p><strong>CARLA MARIA ISSA<\/strong><\/p>\n\n\n\n<p>Senior Research Analyst at Property Finder<\/p>\n\n\n\n<p>Connect with Carla Maria Issa on <a href=\"https:\/\/www.linkedin.com\/in\/carla-maria-issa-994b7866\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"LinkedIn (opens in a new tab)\">LinkedIn<\/a><\/p>\n<\/div><\/div><div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div><div class=\"wp-block-media-text alignwide\" style=\"grid-template-columns:19% auto\"><figure class=\"wp-block-media-text__media\"><img decoding=\"async\" width=\"200\" height=\"200\" src=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2018\/10\/Lynnette-picture.png\" alt=\"LYNNETTE ABAD\" class=\"wp-image-19389 size-full\" srcset=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2018\/10\/Lynnette-picture.png 200w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2018\/10\/Lynnette-picture-65x65.png 65w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/figure><div class=\"wp-block-media-text__content\">\n<p><strong>LYNNETTE ABAD<\/strong><\/p>\n\n\n\n<p>Director, Research &amp; Data at Property Finder<\/p>\n\n\n\n<p>Connect with Lynnette Abad on <a rel=\"noreferrer noopener\" aria-label=\"LinkedIn (opens in a new tab)\" href=\"https:\/\/www.linkedin.com\/in\/lynnetteabad\/\" target=\"_blank\">LinkedIn<\/a><\/p>\n<\/div><\/div><p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Total residential supply for 2018 amounted to 21,014 units Research by Property Finder has found that 21,014 residential units, comprising apartments, villas and townhouses, were completed by the third quarter of 2018. This has been more than the number of units handed over in the past few years, and the inventory will help tenants to&#8230;<\/p>\n","protected":false},"author":30203,"featured_media":24069,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[511],"tags":[],"class_list":["post-24060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-guide"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.0 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dubai may see handover of 47,500 homes in 2019 - Property Finder Blog UAE<\/title>\n<meta name=\"description\" content=\"Total residential supply for 2018 amounted to 21,014 units The additional inventory will help tenants to negotiate for more competitive rents. 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