The year 2013 was a positive one for Dubai’s property sector, as not only did it experience a jump in prices, but it also eventually ended up bagging the honour of hosting Expo 2020 on November 27, 2013. With Dubai benefiting from the Arab Spring, creating more job opportunities, taking measures to boost investors’ confidence, and registering sale and rental price hikes, 2013 was nothing short of a happening year for the local property market.
It was not too long ago that Dubai was more of a buyers’ market. In 2013, not only did it transform into a sellers’ market, but escalating rental prices also forced tenants to move to secondary and less posh areas. While this shift may have been a little hard to stomach for tenants, for Dubai it brought along a more profound recovery. As per Bayut.com’s stats, property prices rose by 42.9 per cent last year.
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Expo 2020 win to boost Dubai’s property market in 2014
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