Dubai real estate: Luxury dominance under threat as mid-market booms, experts say
Courtesy: Arabian Business
Dubai’s property market has long been synonymous with luxury, but a shift is underway. The mid-market sector is emerging as the fastest developing and most in-demand sector, potentially challenging the hegemony of the luxury market.
“Dubai’s property market traditionally focused on high-end homes for the affluent, but now, there is a rise of more affordable options for the average professional,” Anna Skigin, CEO of Frank Porter said in an exclusive interview with Arabian Business.
John Lyons, Managing Director of ESPACE, argued that the mid-market doesn’t need to challenge the luxury market for hegemony. “It has always been the more in-demand market despite the fact it doesn’t hit so many headlines,” he said.