One reason for the liveliness in the UAE’s property market is the Golden Visa, a long-term residency program that’s attracting rich individuals, business leaders, and investors worldwide. Ever since the Golden Visa was introduced, it has significantly attracted foreign investment, which has substantially boosted the real estate market in the UAE and altered its investment trends.
The UAE Golden Visa was introduced in 2019 and lets foreigners live, work, and study in the UAE without needing an Emirati sponsor. It provides leases that are 5 or 10 years long, and it is especially appealing to:
Property investors must pick the real estate investment route since it is the only one where individuals who invest at least AED 2 million (about USD 545,000) can receive a visa that lasts 10 years.
The Golden Visa, unlike other temporary visas, gives immigrants a feeling of long-term security. This is preferred by wealthy people from areas with uncertain political or economic situations, such as Russia, India, Pakistan, Nigeria, and China.
Due to the increased AED 2 million threshold, more investors want to buy top-quality properties by the sea in Downtown Dubai, Palm Jumeirah, Dubai Marina, and Yas Island. As a result, developers are focusing on upscale residences and branded apartments for this kind of interest.
Because there is no full ownership rule, buyers who have a mortgage combined with a little bit of equity can qualify as well. Because of this flexibility, mid-tier investors can now make use of financing to take part in the UAE real estate market.
Those with Golden Visas can ask their families to immigrate with them and get more advantages.
As more people become interested in long-term residency, developers now make it clear if their projects qualify for the Golden Visa. For some, visa assistance is one of the services included in the sales offer.
Some real estate agencies now help you with visas and the entire residency process in addition to selecting properties.
Given the UAE’s goal to boost the economy beyond oil, the Golden Visa is an important aspect of the country’s plans. Because of the rapid rise in real estate activities here, the number of Golden Visas expected is likely to increase even more.
In addition to giving residents the ability to stay, the UAE Golden Visa triggers more investment in real estate. Global talent and investments attracted by the country have shifted the profile for real estate buyers and made the sector tougher.
If you wish to earn rental money, have a family house, or look forward to retirement, the UAE real-estate market, due to the Golden Visa, remains a top choice today and for the coming years.
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