Dubai will host the first and, for now, the only one affordable housing exhibition in the world named Affordable Home Show to bring together all the offers in low-cost property investments sector, Arabian Business reveals.
Organizer of the exhibition Worldsouq company decided to hold this event in order to familiarize potential investors with US $ 1,000 to US $ 3,500 month income with the full range of affordable housing offers in Dubai, which over time become more and more diverse.
The reason for the sector growth is partly due to the fact that such housing is in high demand among the large multinational population of Dubai, among end customers buying property not for profit, but for their own accommodation. However, such units also fit perfectly for investment profit gains.
Worldsouq, organizers of the event, said: “The Affordable Home Show offers a unique platform for visitors to understand what is available to them with all the key developers in one place. In UAE we are seeing a clear shift towards people desiring to stop renting and finding an affordable home to buy within their budget.”
Affordable housing sector in Dubai also has the potential to expand in the near future due to the new emirate’s government initiatives, which is now just encouraging local developers to build more low-cost property, but it is quite possible, that in the future Dubai Municipality could oblige them to do so. For now Dubai Council only recommends that developers give at least 15-20% of each of their new housing project to affordable housing. Land plots for affordable housing construction in various parts of Dubai are also distributed among developers.
It is expected that Affordable Home Show will take place in Dubai in November, and except for the property, the event will present latest advances in the fields of interior design and finishing materials. Visitors would also be able to receive consultations in various areas of law, including property insurance and financial matters there.