After suffering over the past few years due to an increase in property prices, Dubai’s real estate sector looks set to enjoy a boom time once again in the next several years. The current client consists of end users, expats, long-term investors and first-time buyers. This type of buyer creates stability in the market and builds a large pool of buyers that are less sensitive to external factors and encourages expat spending.
Dubai is still considered as affordable territory for property investment and with the surging economy, especially as supply and affordability meet demand and economic growth. One of the most important factors to note is that with Dubai is hosting to Expo 2020, the current prediction for visitors from all over the globe stands at 25M people from 180 nations across a period of six months. This places Dubai in the eye of foreign property investors, as well as being a rental base for many for as long as half a year, housing visitors and exhibitors.
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Property demand will be exceptionally high during this period, and beyond. Before Expo 2020 would be the ideal and the best time for buying property in the city. Expo 2020 and others factors will definitely contribute to making Dubai’s properties lucrative, offering high rates of return.
An expected 25 million visitors in Dubai during the Expo 2020 is already increasing the economy charts of Dubai, Hosting the Expo 2020 means more jobs, business opportunity and economic boom. It’s all about taking advantage of a market that’s passed through its birth and fall phase, and while standing tall on its mature merits, the city is looking to attract investors with long-term plans.
Leading independent financial advisory firm Holborn Assets believes there is light at the end of the tunnel.
“Now is the ideal time to invest in Dubai’s real estate sector” – Holborn Assets adds.
Joanne Phillips, General Manager of the Mortgage Division at Holborn Assets, says that the main the reason behind these potential investments is property prices dropping, which can lure potential buyers and investors.