FIFA World Cup Visitors Showing High Interest in Dubai Real Estate Projects

Every year, a number of organised events and festivals provide the impetus for the emirate’s economic, tourism, and business growth. The FIFA World Cup, which is currently in its 21st year, has been instrumental in boosting Dubai real estate?market. The importance of this spectacular event in Kuwait in promoting Dubai as a premier real estate investment hub and travel destination cannot be overstated. The emirate has already cemented its rising stature as a significant worldwide player in the retail, entertainment, and leisure industries and a magnet for real estate investment.

From Expo 2020 to FIFA World Cup – An era of substantial growth

Despite the COVID-19 breakthrough, historic events of great importance, such the Dubai Expo 2020, have greatly boosted the Dubai economy. In fact, the Expo made a significant contribution and is one of the numerous growth engines for the GCC. The UAE economy gained billions from Expo 2020 Dubai, and millions of jobs were also created. During the World Cup, Dubai anticipates welcoming more than 1.5 million spectators, which is increasing demand for hotel rooms and other tourist services.

Before the final kick-off of the biggest athletic event in the area, hotels and homestays in the UAE are experiencing a significant uptick. Many expect 100% occupancy during the World Cup, while experts predict a 20% spike in accommodation rates.

Growth predicted for Dubai real estate

The?property agents in Dubai?predict that Dubai real estate investments around the country will surpass AED 300 billion by the end of this year. A majority of local and foreign property buyers have lately been inquiring about?neighbourhoods with a high return on investment in Dubai?to finalize their investment plans. Dubai real estate?is positioned for short and long-term growth as a result of Dubai’s lucrative investment opportunities and thriving economy.

The market has been booming in the past year due to the UAE’s broader economic rebound following the coronavirus-induced recession. Experts from the Dubai real estate industry anticipate this trend to continue in the wake of record-breaking transaction volumes in recent months.

FIFA World Cup to bring a further boost

The commencement of the football tournament in Qatar in November will bring a further boost, with many fans opting to stay in the UAE between games. The?property brokers in Dubai?further believe that the World Cup is shorter [than Expo]. Still, a significant population wants to come to Dubai and experience the World Cup, so they can feel the UAE’s topographies, like the weather, beaches, and extend their wings a bit. This will provide illumination here. Moreover, people have also been waiting for other?exciting events planned in Dubai in December 2022. The long-term effect of the World Cup is a bit of a mystery, but anything that draws attention to how fantastic this place is, can benefit the market.

Nevertheless, none of these acquisitions are impulsive. These individuals have seen the potential of a long-term investment in the UAE. They have studied and know that purchasing properties in Dubai?will yield long-term profits. Therefore, they plan to purchase an apartment or villa here, stay there during the World Cup, and rent it out the rest of the time.?The FIFA World Cup, which happens once every four years, has historically provided a substantial economic boost to the host country. Qatar is no exception, with the government anticipating an injection of $17 billion into its economy. Due to the limited availability of accommodations on the peninsula, the UAE and other neighboring countries stand to gain enormously from the event.

August remained the most grossing month in a decade

The number of residential sales transactions reached 8,882 in August, which was a record and the biggest monthly total since 2009. A survey revealed that in the first eight months of 2018, slightly under 60,000 transactions were registered in Dubai, of which 88.4% were residential, representing a 59 percent annual growth and accounting for 97.8 percent of the overall annual transaction volume in 2021. In the previous year, the prime market has experienced huge price increases due to the migration of high-net-worth investors and individuals and the success of the UAE’s golden visa programme.

The strength of Dubai’s market is a result of global uncertainty, which is advantageous for the emirate. It’s a period of uncertainty in some parts of the world, and people will be arriving after experiencing 10 or 12 percent inflation in their own country, with tripled or quadrupled energy costs. This region of the globe still offers greater value for the dollar than other large cities.

Against the backdrop of record inflation in other parts of the world and supply chain problems, the government continues to make excellent decisions on investment-friendly policies. Due to a lack of accommodations in Qatar, football enthusiasts have sought hotels in the UAE or short-term rentals. There is also demand from prospective buyers who wish to invest and rent their house during the event.

The gold emirate is experiencing an increase in the number of investors looking to purchase property in prime areas in order to rent them out. Short-term rentals have been extremely popular throughout the city, and this sector of the market is anticipated to perform exceptionally well during the World Cup. As a result of the World Cup, there has been no increase in the number of end users wishing to move into a new property; this is more of an issue for investors and tenants.

High net worth individuals – FIFA spectators and prospect buyers

The majority of those who will attend the Qatar World Cup are High Net Worth Individuals (HNWI) due to the nature of the event and its price points. Finals tickets for the 2018 World Cup varied between AED 600 and AED 4,000; in comparison, the cheapest QWC finals ticket for non-Qatar residents begins at about AED 2,200 and may cost as much as AED 6,000. These price increases can be related to the pandemic and the desire of individuals to return to routine. For this reason, HNWIs will certainly constitute the vast majority of attendees. This corresponds to the types of properties in Dubai, they must be seeking and as per previous trends, luxury real estate is often their preferred buy.

The average age of UAE homeowners has decreased in recent years. The typical age of first-time homebuyers has decreased from early to mid-40s. Their age also influences the sectors in which they seek to invest. Younger purchasers favour places that they perceive to be thriving, such as Dubai Marina, Business Bay, and Downtown, which are accessible by metro. As they seek capital appreciation, however, seasoned investors are willing to take greater risks and invest in Dubai real estate?projects that are not fully developed, such as Dubai South. In recent years, Dubai South has been tremendously popular with our overseas clients.

Investing in Dubai real estate

Dubai’s global renown is one of the primary reasons why international tourists choose to purchase when they visit the city. It has positioned itself as an attractive investment destination, and many individuals are willing to invest here because they know it is a safe investment. Additional factors impact their choice. Due to the thriving Dubai real estate?market, and cutting-edge infrastructure these individuals frequently acquire luxury properties.

In addition to the promise of a luxury property as an asset, investment in the UAE is becoming increasingly attractive due to the country’s Golden Visa programme, new legislation permitting dual citizenship, and tax advantages that only few nations can match.