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Mon 17 Sep 2018 10:21 AM

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A buyer's market for schools, homes in Dubai, report shows

An additional 18,000 school have been added to Dubai across 13 schools recently, giving parents more choice and stiffening competition among schools

A buyer's market for schools, homes in Dubai, report shows
The Education Intelligence Group and Propertyfinder found that 13 schools have opened in Dubai recently, creating an additional 18,000 school seats, along with 25,000 new homes that are estimated to be added to the market by the end of 2018.

Families in Dubai have increasing amount of choices when it comes to education and housing, creating a buyer’s market, according to a new report from the Education Intelligence Group and Propertyfinder.

The report found that 13 schools have opened in Dubai recently, creating an additional 18,000 school seats, along with 25,000 new homes that are estimated to be added to the market by the end of 2018.

Faced with the prospects of parents with more choices – and more competition among schools – the report noted that new and upcoming schools are now being forced to re-evaluate their position in the market.

“Dubai parents have realised their purchasing power, and they are clearly voting with their feet,” said Shaun Robison, the director of the Educational Intelligence Group.

“With more schools, and new types of schools on the horizon, parents will continue to benefit from the expanded choice.”

Robison added that “data from Propertyfinder indicates that the emerging trends of the residential sector, and this will put further pressure on school operators, which also presents opportunities.”

“The education sector is experiencing a seismic shift, and we’re now seeing the localisation of schools, and communities,” he noted.

According to the Propertyfinder data, by the end of 2017 Dubai residential supply amounted to 403,000 apartments and 86,000 villas, bringing the total residential supply to 489,000 units. Additionally, Dubai Land Department data shows that 14,000 homes have been added to Dubai’s residential supply in 47 developments so far this year.

Based on this data, it is estimated that the residential supply by the end of the year will exceed the amount of new supply in 2017.

“As the Dubai real estate market matures, we are seeing a much welcome shift for consumers,” said Lynette Abad, director of research and data for Propertyfinder. “For the first time, consumers have a choice in housing and in schools and the days of competing with others for a home or a seat in a school are long gone.”

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