On Tuesday, rating company Standard & Poor stated that it expects Dubai residential assets prices to fall further in 2019 due to a persistent gap between delivery and demand before a sluggish stabilization in 2020.

“We anticipate the Dubai residential actual estate market to fare no better in 2019 than in 2018, in the base case situation that S&P Global Ratings makes use of in its score analysis on entities within the emirate,” it stated in a file.

It said the residential property marketplace would not peer a meaningful recovery till 2021. Since 2014, charges have fallen 25 in line with a cent to 33 percent in nominal phrases, the report said, citing property consultancy Asteco.