Dubai's property market is beginning to show early signs of weakening nearly three weeks into the U.S.-Israeli war on Iran, with data from analysts showing tanking transaction volumes and some real estate agents pointing to price reductions. ADVERTISEMENTSome properties are already being offered at big discounts, with price cuts of 12-15%, according to some real estate agents and messages on social media that Reuters reviewed. Analysts at Citi say the war introduced "considerable risk" for Dubai's future population growth expectations as it could deter home-buyers and property investors. They said that in their bearish case for Dubai, property prices would drop by an average of 7% annually between this year and 2028. Transactions haven't stopped," said Imran Sheikh, founder and chairman at real estate investment firm BlackOak.

Source: The Telegraph March 21, 2026 09:16 UTC