Expo 2020 Dubai to revive emirate’s real estate market
Dubai’s property market is awaiting Expo 2020 Dubai that will start off in October. This mega-event is seen to spark foreign home buyers’ run for investment apartments in UAE.
There is a heightened interest among investors in buying rental residential units in Dubai. With a bunch of appealing deals in the market, Dubai abounds in options to choose from.
Top areas for rental property
Location is what matters most for rental properties. The most sought-after areas include:
• Dubai Marina
• Downtown Dubai
• Palm Jumeirah
However, investment opportunities stretch beyond these areas. The city is expanding at an accelerated pace with new residential towers, metro links, and office spaces being built up.
Other options that deserve to be considered are:
• Dubai South
• Business Bay
Investor interest in these neighborhoods is expected to persist with low vacancy as well as longer stays seen there.
Other vital factors
Besides location, crucial components for advantageous rental property investment include:
Proximity to landmarks and/or the beach
• Distance to amenities
• Adequate facilities
• Beautiful views
• Green spaces
Of course, all these points are of different importance depending on a tenant’s preferences. However, this is a basic set of factors to consider before picking a property to rent out.
An investor can capitalize on Dubai’s transformation into an ultramodern city with a myriad of real estate investment options. The city attracts more investors looking to make some solid returns.
Investment-friendly government reforms
Other factors that stimulate Dubai’s real estate market include favorable reforms adopted by the government of the United Arab Emirates:
- Investor visa for foreigners who want to do business in Dubai
• 10-year golden visa
• Attractive debt repayment terms from banks
The Expo 2020 success is also seen to get a boost from the recent initiative rolled out by the Investment Corporation of Dubai. Dubai Global Connect, a global marketplace for producers, dealers and vendors to get together for trade, share experience and develop internationally, will reinforce investor sentiment.
According to experts, all these factors will promote investment and will turn to be good for competition, sending real estate sales higher.
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The country’s economy will get up to $150 billion in foreign direct from Expo 2020, analysts say. It will generate about $23 billion, equaling 24.4% of Dubai’s GDP for the period of 2015 to 2021. This will accelerate the UAE’s GDP growth to 4.5% over the coming years.
Without question, Dubai is a worthwhile property investment destination. If you are about to diversify your investment portfolio with Dubai’s real estate, browse Emirates.Estate’s collection of properties for sale to find the ideal option for you.