The Growth Of Dubai’s Real Estate To Continue Into 2020
The real estate industry in Dubai is slowly coming out of the slump it has been in during the last few years. Consumer confidence is increasing with property developers providing attractive payment plans and options. And not forgetting that World Expo 2020 is around the corner. With long-term aspirations, developers are once again focusing on what attracts the interest of the homeowner or investor.
Property Market Going in the Right Direction
The property market has the right ingredients to get back on track, with October 2019 recording an all-time high in real estate transactions since 2008. Real estate experts predict that the coming years will be kinder to the property market with the hope that the economy will turn around with Expo 2020. It should have a great impact on the spending nature of consumers, which in turn will enable them to confidently invest in properties and land in Dubai.
A leading property developer Damac Properties stated that aside from Expo 2020, there are others factors that have led to the growth in real estate in 2019. There is a long-held notion that Dubai continues to lead as one of the top places to live in the world. With fabulous living conditions and a wealth of facilities and services available, it is no surprise that Dubai still leads the list of best places to reside. Additionally, the government has introduced ease of restrictions and a mix of other initiatives to make purchasing a home in Dubai easier and more convenient.
Maturity in Dubai Real Estate
Property developers are seeing a maturity in the real estate industry since the first quarter of 2019. Low prices have also led to new investors getting attracted to the property market and recording high sales. This has enabled investors in general to have optimism and enter the market once again.
Moreover, the UAE government has made it their objective to transform Dubai to not just a popular destination but a long-term destination for people from all over the world. This allows for investors who want to make Dubai their second home or even a holiday home the opportunity to invest and visit whenever they like.
The property market is showing signs of recovery and this couldn’t have come at a better time than at the close of 2019. 2020 is just weeks away, and the whole region will be getting ready for World Expo. It is a favorable market for buyers, with residential transactions hitting an all-time high in recent months.
Purchasing Property NOW makes it the Right Time
While it is difficult to predict the exact impact that Expo 2020 will have on real estate, it is easy to assume that there will be a positive reaction with millions of people expected to visit the region. It is a massive-scale event and a big step forward, and the ultimate catalyst for the boom that the property market hopes to get in 2020.
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