The Qatar World Cup Will Give Dubai’s Real Estate Market a Boost

The fast-approaching 2022 World Cup has been heralded as a potential boon to nearby Dubai’s luxury property market—but it might be the last uplift before an impending slowdown, experts say.

Held for the first time in the Middle East, the soccer tournament will run from Nov. 20 to Dec. 18 in Qatar. But with limited accommodation on offer, many fans will be basing themselves in nearby cities such as Dubai, potentially leading to a boost in sales of luxury real estate in a white-hot market that is already leading the world in housing price gains.

Around 1.5 million fans are expected to attend the tournament in Qatar. A shortage of accommodation means that the spillover is expected to stay in the United Arab Emirates—primarily in Dubai.

Qatar Airways and Flydubai will be operating up to 54 approximately one-hour flights a day between Dubai and Qatar, allowing fans to fly out for a match and return the same day. Dubai is the biggest beneficiary of this trend by far, capturing 65% of onward visits.

Tourism linked to the World Cup is expected to provide a huge boost to Dubai’s hospitality sector, including its short-term rental market, but brokers are also anticipating an impact on luxury-residential real estate, which has undergone a boom since the onset of the pandemic, with prime properties in some neighborhoods almost doubling in price.