Expo 2020 and its Impact on Dubai Property Sector
What’s this whole buzz around Dubai? Are you aware of the Expo 2020 in Dubai? Do you plan to visit Dubai shortly? Yes, you must read the article to know more.
The big global event Expo 2020 in Dubai is the next big thing. It is already creating immense interest not only in Dubai but all around the world. There is tremendous excitement around this event, and a lot of it has to do with the impact it will have on the property sector. Are you interested in the real estate sector, especially in Dubai? Then you would be curious to know how this expo will affect the Dubai property market. Dubai’s housing market has been really attractive for some time. Now, this sector is going to see a massive boost. The Expo site is in Dubai South and is close to the International Airport. More than 25 million visitors are expected to congregate for the Expo 2020. There are different types of residences that will feel the effect of the expo in different ways.
- Apartments: the Dubai apartments market will see the most significant changes. The rentals will go up by at least 10-15% or more, especially in the areas around the Dubai Marina. It is an excellent time to invest in an apartment now.
- Villas: most of the residents own villas, and this market may not see a significant change. However, new Dubai villas are being built for the expo, and these will be up for grabs. The prices are already soring up. There will be a long term effect of the exhibition, and to build on it, many investors would like to invest now.
- Townhouses: many residents here own more than one property. Townhouses are usually rented out. This market will also see a big increase in the rents. It is an excellent time to buy property in Dubai in the new projects which are coming up.
There is a push towards construction with a mix of residential and commercial areas. Once the expo is over, Dubai will continue to flourish. The plan is to have a sustainable strategy that will ensure a long term appreciation. Several Residential real estate projects are coming up near the world expo site. This is in tandem with the projects coming up in the commercial space around the same location. Good times for the Dubai property market are here.