The Estate Agent JLL reported that the number of new homes that were completed but unsold topped 3,600 at the end of March 2026 while an additional 18,737 homes remained under construction but unsold in the Capital. International buyers deterred by higher taxes and lower yields aren’t buying off plan and investors have largely pivoted northwards to garner better returns. Meanwhile domestic buyers who've never been good at buying off plan, faced with higher rates and excessive service charges, which they have no control over, that only go one way, remain wary. As a result, prices have fallen but any appetite to buy remains light along with any motivation to build more.
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