There are many factors that can influence the price of property. With the Expo on the horizon, people are starting to wonder what it will do to the demand and price of property in the city. Dubai Expo 2020 and the property market is a subject that delivers a great deal of debate. But what does it mean to people involved in buying, selling or renting a property in the city?
Dubai Expo 2020
It is a big event for the Middle East. It puts Dubai even more firmly on the world stage. It will attract trade and innovation to this city, that is for sure. But the effect it has on the property market is probably a little subtler.
It will increase the number of jobs in the city. This will happen in preparation for the Expo and after it has happened. More jobs mean more demand for property. The effect should be to increase prices.
As Dubai attracts the attention of the world, it will gain more demand from tourists too. Whether they visit the Expo, saw it on TV or read about it, their desire to visit the city will increase. It will boost the city.
What this means for Dubai
It will have a positive effect on the property market. People will need somewhere to stay during the Expo so expect prices for rent to rise in the run up to the big event. The demand for people to relocate their business and home to Dubai will also be there. The more popular parts of the city are already seeing a rise in process. This will continue through to 2020 and beyond. It will be good to see that the Expo 2020 Dubai provide an encouraging stimulus for the Dubai property market.