Points of view from the Angeldesk breakfast in UAE (Dubai). Alex Galtsev, founder at Realiste, joined the breakfast as an invited speaker.
- the Dubai market is currently bustling with Russian money (which is why some locations, especially the waterfront, are overrated). On the other hand, there are no objective prerequisites for lowering prices (Dubai's population growth due to immigration, investment inflow, etc.)
- real estate prices in Dubai will grow for next 3 years, on average, by 7-9% per year, especially in the secondary market. Separately, he advises paying attention to the Riyadh market: compared to Dubai, it is still much less developed, but more government investment is expected there in the near future
- Despite the fact that today the UAE PropTech market looks quite free: apart from PropertyFinder (which raised a total of $140 million), there are practically no major players here, the Dubai Government has ambitious plans for innovation.
