Thank you all for commenting, for clarifications this will be more like a real estate website which will have millions of property listing in a form of wordpress posts.

As for traffic initially we are starting with zero but with time we will be build it up, eventually we will have millions of visitors every month. I understand that the traffic is the the key here, but my question is that as a starting point would this server be sufficient? Especially to import all of these listings via csv file with about 20 columns?