By Parag Deulgaonkar www.emirates247.com
Property prices in Dubai are set to increase in the short term, but with the real estate sector will witness a stable and sustainable growth in the long run, believe experts.
Jones Lang LaSalle, a global real estate consultancy, says the direct impact of Expo 2020 win will be on investor sentiment, leading to rise in asking price for both plots and ready villas/apartments in developments close to the Expo site and Jebel Ali area.
Parvees Gafur, Chief Executive Officer, PropSquare Real Estate, adds: “We anticipate there could be jump in prices on a instant basis and with a gradual increase on ‘actual demand’. Most benefiting could be TIER 2 communities and majority of them are on the corridors of the main Expo venue.” More info