Dubai Property Market Ready To Redeem The Craze of FIFA World Cup!
Dubai real estate in 2022 is on the rise and the upcoming Qatar World Cup is now working as a major booster in the demand for residential properties, read this write-up to know more.
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This year is going well for Dubai Real Estate as the market sees 37% sales volume growth in August 2022 and now the new good news is several football lovers are planning to buy property in Dubai as their base for the upcoming Qatar World Cup.
According to real estate investment experts, “real estate investment in Dubai is estimated to exceed AED 300 Billion by the end of 2022. Not only Dubai but the entire UAE is being recognized as top real estate investment destinations all over the world, and there are lots of opportunities for both short-term & long-term investment.”
On the other hand, many real estate investment experts believe that now people have realized the potential of the Dubai property market, and the people who are planning to buy properties in Dubai this year have nothing to do with the Qatar World Cup. They are smart real estate investors and know that investment in Dubai is going to give a premium in the long run. Most of these prospective buyers of Dubai properties will buy a home here and stay during the FIFA world cup and then rent it out and wait for the high return.
This is not a secret that the FIFA World Cup has historically been a huge benefit to the economy of its host countries and Qatar will be not an exception and expecting a boost of $17 billion in the economy. But Qatar has limited accommodation and Dubai is the nearby biggest city ready to grab this biggest opportunity from this historical event.
According to the sales manager of a reputed real estate firm, “we have been getting lots of queries for short-term rental or real estate investment options from the people who are going to attend the FIFA World Cup. So it is clear they are coming for FIFA and real estate investment in Dubai.”
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Clients of High Net Worth
If we talk about the last FIFA world cup of 2018, the stadium tickets at that time ranged between AED 600 to AED 4,000. Now in Qatar, the tickets for non-Qatar residents are starting from AED 2,200 to AED 6, 000. And people who are ready to buy these tickets belong to the High Net Worth income group.
According to real estate investment experts in Dubai, “If we translate these foreigners into real estate investors then these are the people who have between $1 million and $5 million of fortune, and they are luxury home buyers”.
Investing in Dubai
One of the biggest & practical reasons why foreign visitors are opting to buy when they come to visit Dubai is due to the reputation of the city worldwide. Dubai has positioned itself as a real place to invest in and a lot of people are ready to put their money here because they know it is a secure investment.
Many other factors also influence their decision, according to experts. “These investors mostly buy luxury homes due to their modern features, contemporary infrastructure, and assets for long-term investment. As well as, many initiatives taken by the UAE government like Golden Visa Programme, new amendments in the rule that will allow dual citizenship, and minimum tax advantages and reputation as the safest city.
