Property Markets in UAE to Receive Large Entry Buyers with New Visa Updations
UAE Visa Residency System
The visa residency changes are set to provide further impetus to Dubai's property market, which along with the wider UAE economy, has bounced back strongly from the coronavirus-induced slowdown.
Real Estate Market & Property Deals
- Value of property deals in Dubai more than doubled last year and broke a 12-year record in terms of volumes.
- Changes in residency requirements in Dubai have had a significant positive impact on the real estate market in the last two years.
- Expected overhaul of the UAE visa residency system will hugely benefit the country's real estate market and bring a significant influx in buyers.
Visa: Rules & Regulations
- Certain changes were adopted, to come into effect by September which may include parents being able to sponsor their male children until the age of 25, allowing them to remain in the UAE after school and university.
- Skilled professionals on salaries of Dh30,000 a month or more will find it easier to gain a Golden Visa.
- Real estate investors can obtain Golden Residence when purchasing a property worth no less than Dh2 million.
- Investors can obtain Golden Residence when buying one or more off-plan properties of no less than Dh2m from approved local property companies.
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