Kicking off this month, Expo 2020 is being hosted in Dubai. It’s a long-awaited event that was postponed last year due to the COVID-19 pandemic. And the World Expo is expected to bring a boost to the city, particularly the property market.
With attractive mortgage rates and the growing trend for remote working, more people are looking to move to or buy property in Dubai. And the city is home to luxury living with new-build developments bringing forward high-quality housing with top-notch lifestyle-oriented amenities.
The Expo 2020 will likely bring a boost in foreign investment in the property market, and we could potentially even see a rise in international homebuyers driving demand in the higher-end market. For international investors, Dubai is one of a few countries with long-term visas on offer to foreigners who buy property there, making it an appealing place to invest in.
More space and attractive amenities
In the wake of COVID-19, many people are looking for larger properties after spending more time at home, with the rise of remote working and with the pandemic-induced lifestyle changes. One of the many benefits of buying in Dubai is properties tend to be larger, especially when compared to the UK and EU.
Additionally, properties have a mucher cheaper average price per square foot in this city within the United Arab Emirates. In Dubai, the average price per square foot is about $500, according to the latest data from Savills Prime Index: World Cities. This is compared to nearly $2,000 for London and approximately $1,750 in Paris.
Throughout the coming months and year, villas in particular are expected to see strong growth and demand in the Dubai property market. Villas can provide appealing alternatives to both houses and apartments. These kinds of homes often come with more space than apartments, while still being more affordable than houses, and attractive amenities are usually on offer too.
Off-plan opportunities in Dubai
There are a number of new luxury developments being brought forward in Dubai that are providing high-quality spaces. And many are available off-plan, which involves committing to purchasing a property prior to the development being completed.
This allows buyers and investors to purchase the best unit at the lowest possible price. This can maximise your return on investment, and there are also better payment plans available for off-plan properties, typically with lower upfront costs.
Chestertons has a range of new-build and off-plan properties available across Dubai. One of the off-plan developments located on the doorstep of some of Dubai’s most popular destinations is 15 Northside. It’s a high-rise apartment block in Business Bay with 349 apartments spread across 21 storeys.
Properties within the tower are for sale from around £150,000 GBP. The development is nestled along the Dubai Canal, offering stunning waterfront views through floor to ceiling windows. With a range of amenities, the development will have a state-of-the-art gymnasium, temperature-controlled infinity pool overlooking Burj Khalifa and an outdoor fitness terrace, putting lifestyle at the forefront.
Another interesting off-plan development is Golf Place Terraces which has four, five and six-bedroom villas in the heart of Dubai. The luxurious-integrated development features an 18-hole golf course offering sweeping views from the villas, in addition to a fitness track, tennis court, pools and other facilities.
Located by Dubai Hills Park, the development is well-placed in Central Dubai with scenic surroundings and luxurious living right on the doorstep. The elegant and contemporary properties provide an estate fit for modern living.