The FIFA World Cup 2022 will impact Dubai’s rental market because there will be a rise in the demand for short-term rentals before the big tournament.
- During the upcoming FIFA World Cup, Dubai will profit from its proximity to Qatar.
- It is anticipated that rental prices will rise across Dubai in the key performing sectors.
- The cost of renting an apartment has increased by 21% and 43%, respectively, in the first half of 2022 for both inexpensive and premium flats.
- In the first half of the year, the number of inexpensive and luxurious villas both increased by 29% and 30%, respectively.
- Ahead of the FIFA World Cup 2022, landlords are shifting away from one-year leases and toward shorter-term rentals.
Dubai’s Rental Market
The FIFA World Cup 2022, scheduled to begin on November 20, 2022, is expected to assist in the expansion of Dubai’s rental market.
People from the Middle East and football lovers from all over the world will flock to watch the speculator games during the one-month event because it is the first-ever global football tournament to be held in the Arab world.
According to Zoom Property Insights, Dubai will profit from the 22nd FIFA World Cup due to its close proximity to Qatar and the increasing availability of short-term rentals.
The number of Real Estate firms and short-term rentals reporting early reservations for November and December is substantial. The true effects of this approaching mega-football event, though, won’t be felt until October, a month before it. It will significantly impact Dubai’s rental market, which is currently expanding.
Dubai: an important Tourist Center
Many spectators want to use nearby locations, such as the UAE, as a base to travel to and from competitions since Doha, Qatar’s host city struggles with a housing shortage. Due to Qatar’s limited capacity and reputation as a more conservative nation, Dubai, the Tourism Capital of the United Arab Emirates, will benefit most from this.
With more visitors expected than Qatar, Dubai will serve as “the key entrance” to the World Cup since it is less than an hour’s flight away. They’ll actually get the best of both worlds in Dubai, which is the ideal location for football fans who want to take in all the excitement in Qatar while also spending a good amount of time in one of the most cosmopolitan cities.
How is Dubai getting ready for the FIFA World Cup 2022?
As a result of an increase in bookings —many hotels are even fully booked— hospitality Dubai’s industry is changing to handle this inflow of travelers. In fact, a brand-new hotel on Palm Jumeirah has been reserved just for football fans from around the world who intend to base themselves in Dubai, fly to Doha for the World Cup matches, and then return for their overnight stay.
In addition to creating a football hotspot on the Palm, Dubai is also creating fan zones all throughout the emirates for football lovers. Football fans have been offered complete travel packages by sports tourism companies like Expat Sports, including complimentary shuttle buses to Dubai fan zones and daily matchday flights to Qatar.
Know about how to buy FIFA World Cup 2022 tickets in Dubai.
The UAE will add about 40 more flights to Doha, the event’s host city. A total of 45 flights and shuttle services have also been confirmed for owners of Hayya cards by renowned UAE airlines Air Arabia and flydubai. Most recently, the UAE introduced a multiple-entry tourist visa that costs AED 100 ($27) and has a 90-day validity from the date of issue that can be extended for an additional 90 days for Hayya cardholders attending the Fifa World Cup 2022. Similar to Expo 2020, such incentives are certain to increase tourism in the area and have a lasting economic impact.
The comeback of Short-Term Rental
Not just UAE hotels are seeing a significant increase in demand; the Dubai Real Estate market also expects peak season prices as a result of the increased regional tourism brought on by the impending FIFA World Cup. Because of this, an increasing number of Landlords and Real Estate Investors in Dubai are transitioning from long-term rentals to short-term leases as the demand for vacation homes is expected to rise during the FIFA World Cup in Doha.
Property owners should expect better occupancy rates and higher net returns. Not to add, over the previous 15 months, there have been huge rent rises in desirable Dubai neighborhoods like Palm Jumeirah, Dubai Marina, and JBR, with certain regions witnessing increases of up to 40% in Q1 of 2022.
Conclusion
Even reaching a 13-year record in May, the Dubai Real Estate market has already had a positive first half of 2022. Dubai is expected to benefit greatly from the FIFA World Cup 2022 because it is the logical choice for many World Cup attendees to live in.
Football fans will benefit from the UAE’s preparations for the major international event, from fan zones to multiple-entry permits, by having the opportunity to experience the glitz and glamour of the emirate in all its splendor and then easily hop across to Doha on match days. Nevertheless, peak season holiday rental rates are predicted to soar, and Dubai’s extremely prime parts will continue to draw in record numbers throughout the rest of the year.
