Expo 2020, immigration changes, stable economic policies, stimulus packages, and how the UAE performed through the Covid-19 crisis are among the causes that have generated a bullish commercial real estate Dubai, producing a jump in Dubai property sales.
As per global industry analysts, the worldwide expo was essential in drawing international investors to the emirate's expanding real estate sector. It recorded AED 28.5 billion in sales through 9,368 transactions in November, representing an increase in both volume and value. A huge rise in Dubai property sales of AED 16.2 billion through 5,762 transactions in September, just before the start of Expo 2020.
Experts foresee a dramatic increase in the value of the real estate market as long-term renters continue to transition from renting to purchasing to secure a house in the finest city in the world.
Expo 2020, as per industry experts, is drawing new investors and purchasers who have never purchased a home in Dubai before. It has resulted in the best sales, capital appreciation, and rentability improvement in villas and townhouses. Furthermore, developers are encountering new markets, nations, individuals, and purchasers.
We predict that Expo 2020 Dubai will act as a recovery channel for the UAE real estate industry's future. The world has been combating Covid-19 for the last two years, but Expo 2020 Dubai has endorsed the idea that we must learn to live with it.
How did investors from all over the world gain confidence to invest in the UAE?
Linking Dubai and real estate comes easy to most, given the city's limitless skyline of skyscrapers and a construction boom that transformed the city from a desert town to a flourishing metropolis in just over two decades. And with it, one of the city's most common misunderstandings, linking elegance and glamor with prohibitive housing prices, a privilege of the wealthy and those who already live there.
The truth is that real estate investment companies in Dubai have never been easier or more accessible than they are now.
Despite the current market increase, which was mostly due to the city's outstanding reaction to the worldwide epidemic and in preparation for Expo 2020, prices have never recovered fully to pre-2014 levels.
There is no property, income, or inheritance tax in the UAE, nor are there any stamp fees involved with purchasing a home. The only cost that applies is a 4% Dubai Land Department (DLD) transfer fee on the purchase price. This is often paid by the buyer and is a one-time payment in comparison to the amount of taxes saved every year.
Why is Real Estate Investment Popular in Dubai?
Dubai's rapid transformation into one of the world's great cities is fueled by its role as one of the most significant — if not the most important — economic hubs in the Middle East and its thriving tourist economy.
Dubai has become one of the most sought-after investment locations in the world due to its cutting-edge infrastructure, highly profitable assets, and first-rate regulatory framework. The city hopes to become the world's most visited destination by 2025, so now is an excellent moment to invest in its flourishing residential and hotel industries.
Dubai's District 2020: Global entrepreneurs can earn a 2-year rent-free lease
District 2020, the new name for the Expo 2020 venue and attraction, is handpicking such businesses to be among the first tenants to move in once the renovated site opens its doors on March 31. According to a high official, this might happen by late October or early November.
The more than 80 businesses chosen for the 'Scale2Dubai' project will be announced in late March.
This would allow enterprises that meet specific requirements to come to District 2020 and receive two years of free rent and visa help. They had a smooth arrival in Dubai and instantly integrated into the environment that was being established.
Green energy, smart city ideas, smart mobility, or technology that enables these concepts must be the focus of these startups. And they must be well-established in their nations.
The two-year rent-free period applies exclusively to enterprises selected through Scale2Dubai; everyone else is considered a normal tenant.
● The second phase of the Expo 2020 site will begin on March 31. The redevelopment of the 4.38 square kilometer of land will begin immediately.
● Around 80% of the superstructures erected for the Expo will be preserved to house up to 145,000 inhabitants and workers.
● Starting in October, 115,000 square meters of the net leasable area will be made accessible to businesses.
RGESTATE.COM (by Riveria Global) real estate agency in Dubai has been helping people invest in selling and buying properties in Dubai with our real estate investment website since 2008.
