Expo creates markets in the world where buyers and sellers gather. Investors can choose the property according to their affordability. Expo boosts the economy of the host country and is allows growth in the real estate market.
When the UAE won the bid to host Expo 2020, there was a sharp increase in development projects from past years. The areas which are closer to the global fair sites were developing exceptionally.
What influence does expo hold on the UAE property market?
- Dubai has been on a growing spree over the last few years. With the CoVID-19 the rise in the prices of real estate has been low due to expansion in the number of properties. UAE declared one of the unique developed countries to host expo and other are old developed countries where expo was hosted previously.
- Expo 2020 started to open its doors to new business. It has attracted the buyers by offering value for money for higher facilities. Commercial real estate developers introduced flexible areas for investors to create the perfect space for their business.
- As many major changes are made, Developers are focusing on adding facilities like Gym, environment friendly buildings and want to construct new apartments and villas. The interest rates have been lower just like mortgage rates. Property prices are attractive enough to those who want to buy.
- We expect that there will be a spike in the investment in real estate with the new visitors for Expo 2020. Investing in the UAE has become increasingly more attractive due to Government incentives such as introduction of new visas.
- Some of the main factors impacted on the rise of the real estate market are favourable payment plan, flexibility in loan as well as visa terms for investors.
No doubt, expo 2020 has a positive influence on the UAE real estate market. Except for many changes in the rules and regulations implemented in the nation, stabilizing the relations with Israel and four Arab countries with Qatar, should directly travel for property investments to Dubai.
What will real estate look like after Expo 2020?
- Expo has a positive impact on the host country’s economy and this will eventually continue to grow on the real estate market.
- We previously observed a boost in property prices after Expo Millan and Shanghai was successfully do Same is expected from the UAE as well. This global event will start new development and encourage foreign investment into the country. Such significant events raise awareness of the country and promote economic growth.
- In CoVID-19, the precautions of UAE is remarkable: almost4% of its population are fully vaccinated, people are going back to their companies for work, children back in school and people travel openly to all countries which make UAE a most strong option for investors to do business. As a solo entity UAE is a more stable and secure country to move in.Therefore if you are looking to purchase a property or rent out a building and need some guidelines then we are here for you. Ksquare.ae is the most suitable mortgage company in the UAE.
- On top of a huge increase in hotel rooms, there are some significant residential real estate projects both completed and still underway. So, more visitors will be able to stay here.
- They have built the complete site as “a model global community for the future that will use state-of-the-art, science and continually to create a cleaner, safer, healthier environment to live and work.”
- 80% of EXPO 2020 is repurposed for the new development. District 2020 has gained the nickname ‘15 minute city’ as plans for the site show that housing, work spaces, retail, restaurant and attractions will never be further than a 15 minute walk away from one another.
- This new development provides more working opportunities for those who are already living and working in Dubai, as well as an increase in tourists travelling to visit the new smart city.
What else can we expect to affect the real estate industry by Expo 2020?
- Commercial Growth:
It increases the growth commercially with the development of new shopping centres, hotels and restaurants, both in and around the Expo 2020 site. As such, it has opened the doors to hundreds of new businesses and investors in the city. As new investors will need to find more commercial space where they can start and expand their new business.
- Residential growth:
The UAE has become an attractive place to live. As there are so many facilities, it should also be an attraction for businesses to expand in Dubai, a great place for families to come with them,and an advantage to new housing developments.
The UAE has faced more challenges, but the UAE and its real estate market have proven its flexibility and are also ready for creative and ingenious developments.
Ksquare.ae will explore the ways for you, if you require leasing, selling or buying property in the UAE. It provides you the service for choosing the best option that suits you. Our team of experts particularly provide complete designing and planning for your property purchase experience. We are one of the top mortgage company in UAE.