War worries freeze Dubai's property market; sales down 44%: Report
Business
Dubai's property market saw a 44% year-on-year drop in registered sales for the period February 28-March 22, with buyers holding back across homes, offices, and shops.
The main reasons? Ongoing conflicts involving the US Israel, and Iran have made investors nervous. Flight disruptions have made it tough for people to even visit properties.
Luxury deals still happening
Even with the slowdown, luxury deals are still happening: some topping $2,000 per square foot.
Most expats are staying put in Dubai, though a few have headed home for holidays or to wait out the uncertainty.
Analysts say things could bounce back if the region calms down.