How Expo 2020 is shaping up the Dubai property market

How Expo 2020 is shaping up the Dubai property market

The Dubai property market is witnessing a remarkable recovery as an upward trend is noted in both the prices and demand for residential properties. While there are other factors at play, the growth is mainly attributed to Expo 2020 Dubai, as areas closer to the global fair site are performing exceptionally well.

Statistics reveal that 17,942 transactions worth Dh46.75 billion were recorded during the fourth quarter of 2021, signalling the growth of 12.7 per cent on quarter-on-quarter basis and 63.2 per cent year-on-year basis as compared to the fourth quarter of 2020. Both volume and value of transactions being the highest since the fourth quarter of 2013 chiefly because of Expo 2020 Dubai.

Upward trend to continue

According to Zoom Property Insights, this upward trend will continue even after Expo 2020 is over. Both the ready and off-plan properties will remain high in demand in key areas as more foreign investors are expected to foray into the property market.

James Hatton, managing director at Elysian Real Estate, is of the view that the impact of Expo 2020 is going to be long-term.

“Ultimately, if we are looking at long-term factors of Expo, I do feel it’s going to be very very positive. How could they