UAE - Analysis｜Changes to Golden Visa policy will "bring more diversified investors to Dubai"
In a bid to stimulate investor engagement in the real estate sector, the UAE government has announced significant changes to the golden visa policy.
The alteration involves the elimination of the previous requirement mandating Dubai property buyers to pay a minimum down payment of AED 1 million to qualify for the golden visa.
Under the new guidelines, investors are now only required to possess property valued at AED 2 million or more to qualify for the prestigious golden visa.
This revision, regardless of the down payment amount and property status (off-plan, completed, mortgaged, or unencumbered), is aimed at fostering greater investor diversity and bolstering participation in the property market.
Industry experts have hailed this move, stating that it will open doors to a more varied pool of investors and enhance overall market participation. They believe that lifting the financial threshold will not only benefit international investors but also contribute significantly to the continued development and prosperity of the UAE economy.
Recent data from the Dubai Land Department underscores the buoyancy of Dubai's real estate market, with transactions reaching a staggering 1.6 million units last year, marking a notable increase of 17% compared to the previous year. Transaction values soared to AED 634 billion, accompanied by a surge in transaction volumes totaling 166,400, representing growth rates of 20% and 36%, respectively.
The influx of investment has seen a remarkable surge of 55%, with 42% of new investors emanating from international markets, underscoring Dubai's unwavering global appeal and position as a premier investment destination.
The changes in the golden visa policy are expected to further amplify investor confidence and contribute to the sustained growth and vibrancy of Dubai's real estate market in the foreseeable future.
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