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Expo 2020 stimulates real estate sales

Expo 2020 stimulates real estate sales

According to Property Finder, real estate transactions in Dubai are valued at $36.8 billion, higher than last year. The amount of investments exceeded the costs in 2020 by 88.39%. Since Expo 2020, there has been an increased demand for primary and secondary housing. A total of 12,352 residential properties were sold from October to November. There are 7,000 deals for new buildings or commissioned houses and another 5,352 deals for off-plan properties.

November figures surpassed those of previous years, and this month can be considered the best in sales since 2013 when the exhibition plans were announced. According to Linnette Sacchetto, Director of Analytical Research at Property Finder, the first fruits of Expo 2020 are already visible in sales figures. In the first month alone, 2.35 million foreign citizens came to the country to visit the exhibition. Dubai's business activity and demonstration of a thriving economy have stimulated interest in premium real estate.

Villas and luxury apartments worth more than $29,000 are in high demand. Demand confirms rising prices. In popular areas of the emirate, it reaches more than 34%. So, in Arabian Ranches, the cost of villas increased by 34.1%. In Palm Jumeirah, this figure was 14%. On average, the increase in the price of villas ranges from 14 to 18%. Wealthy buyers prefer to invest in expensive real estate.

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