Dubai residents fear continuation of rising house prices, research reveals

Business students are surveying public, property and tourism experts on the potential effects of Expo 2020 on Dubai.

Ansh Kapur and Vahbiz Cooper, students at Amity University, say their survey into housing price rises since Dubai’s successful bid to host Expo 2020 shows residents believe the increases are sustainable. Satish Kumar / The NationalShow less

DUBAI // Two Amity University students have been researching the effects on house prices of Dubai hosting Expo 2020.

Business administration students Ansh Kapur and Vahbiz Cooper surveyed members the public, and people working in property, hospitality and tourism.

About 100 residents were asked about house price rises and benefits from the Expo, among other topics. Mr Kapur, 20, said 78 per cent of residents felt the recent price rises would not lead to a property bubble like that of the late 2000s.

About 80 per cent said they had seen rises of about 20 per cent since the Expo was secured.

“While prices are going up now, there is a positive way it’s being felt,” he said. “It’s not seen as artificial and a bubble that will burst but something more sustainable.”

The Expo is also having an impact on enrolment inquiries at Amity.

Mariam Shaikh, its vice president of admissions, said there had been huge demand for master’s degrees in tourism and logistics, seen as major employers for 2020.

“There’s been so much demand, not just from here but from outside the UAE, too,” Ms Shaikh said. “Of the 277,000 jobs being created by Expo 2020, it is believed that 40 per cent of those will be in tourism.”