"The story this time around is different," Khan said. "Last time, we saw a massive loss of confidence across the board, across the world."
After years of frenetic development, which included constructing the world's tallest building, Dubai suffered a massive real-estate crash in the wake of the 2008 financial crisis, with property losing more than 50 percent of its value by 2011 as excessive speculation came home to roost.
Read More Dubai, once a humble refueling stop, is crossroad to the globe
It was a crisis made worse as many expatriates, who currently make up more than 80 percent of the population of the U.A.E., which includes Dubai and Abu Dhabi, parked unpaid-for cars at the airport and flew away from all their debts, sometimes including properties.
Khan noted that developers now require buyers to provide payment at each stage of construction. The government also doubled its transaction fee on property deals to 4 percent last year in a move to discourage "flipping," or quick buying and selling of units.
Read More Why this city's prime property will outperform global peers
"The capital is guaranteed for projects. It's not like investors can bail," Khan said. "It's going to attract more serious investors into the market."
Others also don't believe the slowing sales are a worry.
"It just shows that there's a lot of confidence, particularly among sellers," despite prices rising as much as 50 percent over the past 24 months, said Donald Han, managing director at property consultancy Chestertons.