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UAE Golden Visa Boosts Dubai Real Estate Market
Jul 8, 2024
UAE Golden Visa Boosts Dubai Real Estate Market Dubai
By   Internet
  • City News
  • UAE Golden Visa
  • Dubai Property Market
  • Dubai Real Estate
Abstract: In Dubai, professionals holding long-term residency permits are increasingly opting to purchase real estate, driven by the UAE's Golden Visa policy. These long-term residency visas are granted to various investors and professionals such as doctors, engineers, PhD holders, scientists, etc., allowing them to reside in the UAE for up to ten years with a range of significant conveniences and benefits.

According to recent data, in 2023 alone, over 158,000 people received the Golden Visa in Dubai, highlighting the growing attractiveness of long-term residency and the significant increase in market demand. Holders of the Golden Visa can reside long-term within the UAE, re-enter even after prolonged absences without a sponsor or facing quantity limits, significantly boosting their confidence in future living and investment in Dubai.


Michael Gelpke, CEO of Glam Properties, noted that an increasing number of Golden Visa holders are choosing to purchase properties in Dubai or invest in the local real estate market. He explained that part of this trend's intensification is attributed to policy changes, such as the removal of the requirement for a minimum AED 1 million down payment, significantly lowering the threshold for obtaining the Golden Visa through real estate investment.


UAE Golden Visa Boosts Dubai Real Estate Market

Internet


"Dubai's stable economic environment, world-class infrastructure, and strategic location further enhance its investment appeal. High return on investment, rental yield growth, and rising property prices also attract investors' attention," added Gelpke.


Anmoll D Shroff, Founder and Chairman of Elton Group, highlighted Dubai's significant increase in property purchases by Golden Visa holders. He pointed out that many bankers, doctors, and artists are opting to buy properties in Dubai to plan for the long term and benefit from real estate investment returns.


"The Dubai real estate market is highly attractive to Golden Visa holders who seek larger and more luxurious properties to meet their family needs. Premium locations such as Dubai Marina, Jumeirah Village Circle (JVC), and Palm Jumeirah are popular for their luxurious lifestyle and convenient amenities," Shroff said.


Experts also noted that Golden Visa holders tend to prefer high-end areas like Downtown and Business Bay, which offer convenient transportation and high quality of life. With the development of Dubai's real estate market and optimization of the Golden Visa policy, this trend is expected to continue growing, injecting new vitality and growth momentum into Dubai's property market.

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UAE Golden Visa Boosts Dubai Real Estate Market
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