Expo 2020 will have a tremendous impact on Dubai real estate market and the city itself. But what do we know about this so promising event? Expo 2020 is one of the largest events, so far, in the whole Arab world. It takes place in Dubai on October 20, 2020, and would last for a period of 6 months.
More than 30 million people from 190 participating countries are expected to visit Dubai during this period.
The first Expo “The Great Exhibition of the Works of Industry of All Nations” took place in London’s Crystal Palace (1851). More than 100,000 objects were displayed presenting different types of inventions dating back from the industrial revolution.
Share different experiences, showcase ideas, collaborate and unite with others is the main purpose of Expo2020.
Every city and country experienced a drastic change brought by the Expo event. Now the important questions are:
- How will it benefit Dubai?
- How Dubai real estate market and the economy will change during and after the event?
Travel and Tourism
Dubai Expo 2020 will host more than 30 million people, quite an impressive number for a 6-month event. A significant number of investors planned to the country during Expo 2020. It will be a great time for Dubai real estate market to pick up and improve its situation. What is more, Expo2020 considered as the catalyst for landlords and Dubai real estate developers. Landlords can get their property rented easily. Developers, at the same time, will concentrate on attracting more investors through special offers and attractive payment plans.
How affordable is Dubai real estate market in this regard?
Affordable prices of Dubai’s real estate, no property tax, numerous governmental changes (5-,10-years investor’s visa) and 100% free ownership has already made Dubai a tidbit for investors. High media attention and a significant number of investors will provide a great opportunity for increased investment activity. The most important question is whether landlords and developers are ready for this demand or not? If developers are able to take advantage of Expo 2020, it will improve their position in the market, stabilize the economy and give that extra push for the future growth and development of the sector and the economy, at large.
There is no doubt that Dubai real estate market will grow and improve. With the market shift towards more affordable units, investors have a wide range of choices in terms of price, location, and offers. It was never so easy to invest in the Dubai real estate market. High ROI, easy payment plan, no property tax, post-handover installments made it cheaper to own an apartment rather than renting it. If you have few years and not sure whether to rent or buy an apartment – consider buying one. It is always better to invest in your own apartment and pay installments on a monthly basis rather than pay rent. If you are hesitant to decide about renting or buying an apartment, how to choose a suitable unit and location – it is always better to get the help of a renowned property advisor.
Contact Universal Prime Real Estate property advisors and let us help you to invest in your future.