The upsurge in the real estate market in Dubai seems to come, as the years of policy improvements by the UAE government finally seem to be bringing back property investors’ confidence in the real estate market.
Some policies by the government like long-term visas for investors and professionals, convenient payment plans and enhanced flexibility in debt repayment by economic institutions and some other initiatives have changed this mood.
Only in the month of November 2019, Dubai Land Department recorded 5000+ real estate deals, the highest number of property transactions since 2008, and Dubai’s residential stock that is forecasted to touch 6,37,000 this year.
Expo 2020 Dubai – which the UAE government calls “the largest event ever staged in the Arab world” is set to welcome 190 participating nations and millions of guests from across the globe.
The Expo 2020 will stretch for 173 days with different themes varying from promoting sustainability and innovation in the Arab region.
In the past Expo has changed the economy of host countries. This, 2020 Expo, is already showing improvement in the UAE’s local economy and will also help raise real estate prices.
Dubai is spending billions of dollars in its attempts to showcase the Expo 2020 as the world’s largest event ever. The Expo 2020 organizers expect 11 million visits by people living in the United Arab Emirates and 14 million foreign visitors.
Some recent economic reports wrote that the Expo 2020 Dubai is supposed to give 100+ billion AED boost to the UAE economy, along with thousands of full-time jobs a year.
There is no doubt that Dubai real estate sector buoyed by the Expo is on a boom now. Real Estate Developers in Dubai are foreseeing that post Expo, property investors would like to have their base in the UAE, as they believe the regulatory and infrastructure that it provides is as attractive as any other global city like London, New York, or Paris.
In spite of the local Emiratis and appearance of Chinese as the leading real estate investors in the region, top real estate companies and developers believe Indians have started seeing at Dubai for their investments.
It is the best time to invest in Dubai property market because it is not just about traditional buying and selling. When you look at the average ROI that you are able to clock anywhere else in the world it is still striving between 5% and 6%. But, in Dubai, it is easy to make 10% to 12% all day long.