She confirmed that all of them are related to "Expo 2020".
"Metropolitan Properties": 4 factors that support the real estate market in Dubai
The agency confirmed that there is a strong demand for luxury real estate in Dubai.
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Nikita Kuznetsov: “We expect real estate prices in Dubai to rise by 10-15% until 2022.”
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The real estate agency, "Metropolitan Premium Properties", has identified four factors supporting the real estate market in Dubai related to the "Expo 2020 Dubai" exhibition, expecting at the same time that the emirate's real estate prices will rise by rates ranging between 10 and 15% until 2022.
The agency explained to "Emirates Today" that the four factors are the expected attraction of the exhibition about 25 million visits, as well as its employees, considering that this, in turn, will lead to an increase in demand in the market, while the second factor is that some companies participating in the exhibition will decide to establish a presence It is in Dubai, while the third factor is the government launching some mega projects during and after the event, while the fourth factor is that the International Expo all over the world supports the real estate market in general.
In detail, the CEO of the "Metropolitan Premium Properties" real estate agency, Nikita Kuznetsov, expected that real estate prices in Dubai will rise until 2022 by rates ranging between 10 and 15%, noting that the market is witnessing less supply and high demand, as well as a low interest rate on real estate loans. The launch of Expo 2020 Dubai.
Kuznetsov told «Emirates Today», that there is great interest at the present time in the real estate market in Dubai, where there are only a limited number of projects that have been put on the market, due to government restrictions on launching new projects, which led to a demand greater than the size of the project. the offer.
"This is the main difference from what we've seen in the past four years, when supply exceeded demand," Kuznetsov added.
Kuznetsov indicated that there are four factors that contribute to a positive impact on the real estate sector in Dubai, the first of which is the expectations that "Expo 2020 Dubai" will attract about 25 million visits, as well as its employees, and that is why it is expected that 300,000 new families will move to Dubai within A year since the start of the exhibition, considering that this in turn will lead to increased demand in the market, as they will all need a place to live.
He added that the second factor is that some of the companies participating in the exhibition will decide to establish a presence in Dubai, and will also register in the free zones that are expected to witness a growth in demand for commercial real estate.
As for the third factor, Kuznetsov indicated that it includes the government's launch of some mega projects, which will be revealed during and after the event, which will contribute more to supporting the real estate market.
Kuznetsov pointed out that the fourth factor is that the International Expo all over the world is creating support for the real estate market.
Kuznetsov said: “Currently, we are still seeing a strong demand for luxury real estate from foreign investors, as the percentage of real estate sales worth more than five million dirhams, amounted to 15% of total sales during the first half of this year, with an increase in the average selling price of real estate. Luxury from five million dirhams to 10 million dirhams.
Kuznetsov said that Dubai has emerged as one of the safest and most open cities in the world, giving residents and investors confidence in its real estate market, pointing out that real estate buyers choose Dubai because of the high levels of safety and security provided by the state.
He explained that there are other factors for choosing Dubai, including the presence of prestigious international schools, distinguished infrastructure, tax exemption, new visa options, and 100% foreign ownership opportunities.
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