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Posted by webadmin on May 10, 2021

What Experts Say About The Current Market In Dubai?
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If you are planning on investment in Dubai, then you must have noticed about the cost that had been falling since 2020. All the people who were thinking of buying property in Dubai are concerned about the trends of property in the Gulf.

The concerns are logical regarding investors and we can now verify that the cost of real estate is lower compared to 2016. According to Researchers, in Dubai the average selling cost for townhouse at the end of 2019 was AED 2.3 million and in the last quarter of 2020 in the pandemic that fell to AED 1.8 million. Apartments cost also reached to the lowest end of the average range of AED 1 million.

According to realtors the property prices decreased by 6-10% in 2020 and are currently increasing in 2021; but according to many analysts, the market is very robust as demand is starting to exceed supply in sales.

How can Dubai Expo 2020 improve the situation?

Dubai Expo 2020 will have an enormous impact on the whole city including housing market, service section and hotel business. Why? The reason is that it is one of the major events a city organizes. Only two events in the whole world are bigger than Dubai Expo – the FIFA World Cup (which will happen in Qatar in 2022) and the Olympics. Once the Expo starts in October 2020, it is expected that 27 million visitors will travel to it and around 70% of them will be foreigners. Moreover, Dubai is a famous destination for travelers in winter because it is warm there and it is close to Asian and European countries. Considering these there will be a lot more group of people choosing Dubai for holidays in 2021-2022 seasons.

Project spending and constructions have already enhanced economic development by 6% a year and the Dubai Expo should boost its impact to 10% in 2021. Foreign direct investment is expected to increase by $175 billion with the help of Dubai Expo – this money will amplify productivity and capacity.

But will the Expo also boost the property market?

According to evidence it is seen that large events have major contribution in the growth of real estate prices. For example, since Expo 2010 in Shanghai real estate cost increased by 46%; between the 2012 Olympics and 2017, the prices of real estate in east London increase by 64%.

It is worth mentioning that the benefits of Dubai Expo 2021 won’t be temporary. After hosting the 1986 Expo, Vancouver saw profit increase up to 20 years. Whatever the Expo 2020 in 2021 brings impact on real estate, the important factor to consider is that it will provide Dubai with tourism in the Gulf and leadership role in business.

Why is it a good time to buy in Dubai?

Considering the prices, Dubai is highly affordable as compared to other major cities.

Before Expo 2020, we have provided some valuable opportunities available below:

  1. Due to oversupply, developers are providing buyer’s inducement such as guaranteed rental income, lower service charges, free legal fees and even deferred payment terms. Expo 2020 results will make it stricter.
  2. New developed communities (like in Nshama’s Town Square Dubai) are available in lower prices for middle-income.
  3. A large development is happening at (Al Wasl Plaza and Dubai South) where Expo 2020 will be held. You should look at those areas thoroughly, for example, Dubai Greek Waterfront promises to be the latest tourism place with a building that is going to be higher than Burj Khalifa. Also, just minutes away from Expo place Expo Golf Villas from Emaar is available. Dubai South plan can be seen through Dubai South Website.

The property prices there are now extremely attractive; a general recommendation is to seek for those places that could be in high demand during and after Expo. Return of investment can be huge but there are certain risks in investing in new developments projects. Yet you can still play on safe side and find those places with proven demand such as Downtown, Palm Jumeirah and Dubai Marina. These are some places which are never clear.

Are there any other benefits for real estate investors in Dubai?

By buying real estate in Dubai you’ll get some generic benefits, whenever you do it.

  1. Compared to other major cities Dubai is considerably cheaper – you will save money by investing in Dubai.
  2. For those looking for residence in Dubai, 10-year retirement visa programs and UAE property owner’s visa can be of major benefit (Although these visas will not allow you to work in Dubai).
  3. You will take benefit from a vast investor support. Investors are coming to Dubai from all over the world and its market will not decline from a single nationality pulling out. Also, you do not have to pay any property taxes.
  4. Dubai is safe city, not just for families or individual but also for companies who benefit from secure surroundings, with a stable commercial base and regulatory. Moreover, to keep your house safe Dubai Police Department is providing a service (isn’t it awesome?).
  5. During Expo, when rentals will be firm you could stand to benefit from renting out your property. But before Expo 2020 prices will be low. You may have got in at just the right time because you will see real estate prices firming up, if Expo 2020 brings in new investment

6. Never ending summer.


Will Dubai finally profit from Web Expo 2020?

If we look at events previously, we can say that some cities have not taken as much advantage as they could have taken from big events but considering Dubai has fully planned for how to carefully take maximum profit from Expo. The development has both a legacy development manager and a project manager, there job is to think about new ways to repurpose building for new uses. A vision is defined about how the city will progress after Expo 2020, in term of real estate and economically.

As much as Expo 2020 location is concerned, 80% of the construction will be held after the Expo event. 6 months after the Expo closes, district 2020 will reopen in October 2022 with 700,000 square feet of residential space, as well as public areas and business facilities. Dubai is now trying to become a start-up hub for the region, with 5G networks, Smart City initiative and new rules making life simple for foreign-owned corporation. For example, Siemens has dedicated a new logistics hub in Dubai.

It is expected that the District 2020 real estate will sell at a premium, if Dubai Expo 2020 is as flourishing as it’s predicted. While there are still reasonable offers from developers, it is the right time to take your decision if you want to purchase real estate in Dubai.

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