Dubai's residential property market has cooled markedly in 2026 after prior gains, with transaction volumes falling 38-47% year-over-year through Q3 amid elevated supply pipelines and regional geopolitical uncertainty. The PIX residential index stood at 205.8 in September, down 4.0% from a year earlier and reflecting modest monthly adjustments near zero, while median apartment prices hovered around AED 1,404 per sq ft. Secondary sales have gained share as buyers turn selective, focusing on developer quality and long-term fundamentals rather than short-term momentum. S&P Global notes a 20% rise in upcoming apartment deliveries through 2028 could extend gradual price corrections, particularly in investor-driven segments, though some reports highlight resilient prime areas and leasing demand. With 2026 nearly complete, near-term resolution hinges on final-quarter transaction data and any supply-driven adjustments.