Dubai’s property market remained active through October, but a growing share of buyers are holding their final decisions until after the US midterm elections, according to internal pipeline data from Allsopp & Allsopp.
“The market is still very much active,” said Lewis Allsopp, Chairman and Co-Founder of Allsopp & Allsopp. “Viewings and registrations are moving. The caveat is that a lot of buyers – some for the first time in a long while – have one eye on the midterms before they lock in an off-plan investment or a home purchase,” Lewis Allsopp, chairman and co-founder of the agency said in a statement.
The midterms determine control of Congress for the remaining two years of President Trump’s term, which in turn shapes the path for US tax policy, spending and tariffs. Markets are reading that primarily through interest rates: the Federal Reserve has held the funds rate at 3.75–4.00 per cent ahead of the vote, with further moves contingent on inflation.
Because the dirham is pegged to the dollar, those rate decisions feed directly into Dubai mortgage costs and the return calculations for dollar-based investors across the region.
The hesitation is showing at the decision stage rather than in early-pipeline activity. Buyer and tenant registrations rose 16 per cent against September, with sales applicants up 33 per cent. Viewings were up 2 per cent, new for-sale listings taken rose 13 per cent, and new to-let listings climbed 17 per cent.
“People aren’t stepping away from Dubai,” Allsopp said. “They’re still engaged, asking more about the political and regional overview while making a decision.”
