DUBAI PROPERTY SALES PLUNGE OVER 30% AS IRAN WAR SHAKES INVESTOR CONFIDENCE

Wed 08 April 2026:

Dubai’s residential real estate market saw a sharp downturn as escalating tensions involving the US, Israel and Iran weighed heavily on investor activity.

Property sales fell 30.5%, dropping from 17,027 transactions before the late-February escalation to 11,828 between March 2 and March 29, according to real estate platform DXB Interact.

The financial impact was even steeper, with total transaction volume declining 36% to $10.58 billion from $16.53 billion within a month.

The Dubai Financial Market Real Estate Index also dropped 21.23%.

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Industry experts say the slowdown may be deeper than reflected in the data. Bayram Tekce, chair of the Istanbul-based Real Estate Services Exporters’ Association (GIGDER), told Anadolu that real buyer demand may have fallen by as much as 70%, with the full impact likely to emerge over the coming months.

He said quieter streets and empty hotels have pushed developers to quietly offer discounts and flexible payment plans to maintain the city’s premium market image.

Tekce also noted that the UAE has stopped renewing residency visas or permits for around 600,000 Iranian nationals amid heightened security concerns following retaliatory strikes.

Burak Ustaoglu, CEO of global real estate advisory firm WovenInt, said the market has shifted into a cautious “wait-and-see” phase, with buyers focusing on long-term projects offering lower upfront payments and extended installment plans.

He added that property prices have already declined by around 10%, warning that if tensions persist for several more months, secondary-market prices could fall by up to 30%.

-Source: AA

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