The impact of online international real estate listings on Dubai's property market is a topic worth exploring. The rise of online advertisements on both local and international portals has transformed the way the real estate market functions in Dubai. Previously, only UAE nationals were allowed to own property in Dubai, but this restriction has been lifted in recent years, leading to a surge in foreign investment in the real estate market. The US real estate market crisis led to greater integration between the US and UAE real estate markets at an international level. The study also includes a comparison of the potential for capital between Dubai and the United States, with factors such as supply and demand, property prices, rental rates, and other market mechanisms in the global real estate industry being considered. The analysis highlights the transnational engagement of foreign owners in the Dubai property market, many of whom are Dubai residents. However, existing housing-demand models and housing price mechanisms in the global real estate industry do not incorporate legal factors and associated economic effects, including anti-competitive conduct in real estate transactions. Therefore, there is a need for further research in this area to gain a better understanding of the impact of online international real estate listings on Dubai's property market and to mitigate any negative effects.
By Roger K. Olsson