Dubai residents seize real estate cooldown opportunity as Middle East war rages on

Dubai residents are capitalizing on a cooling real estate market amid the Middle East war, with rents dropping by up to 15%.

Binghatti sold two luxury apartments in June for $54 million and $19 million.

Emaar announced a $55 billion project in Dubai despite the market slowdown.

Dubai's property prices have fallen by 5% to 20% in mainstream areas since the war, after surging 82.9% since 2021.

The market has shifted from a seller's to a buyer's market, increasing negotiation margins.