UAE Golden Visa: Recent Rule Amendment To Attract Real Estate Investors

The UAE government is all about getting more folks to invest in real estate and strengthening bonds with residents. They are letting go of the rule of investing at least AED 1 million (that’s about $272,000) or half of a property’s price to snag a Golden Visa.

You will no longer need to pay a large sum of money in advance to obtain a dazzling Golden Visa for your house as of January 24, 2024. It makes no difference if your home is under construction or ready to move in. You can own a property for as little as AED 2 million and have a Golden Visa of your own.

This change makes it easier for people to live in the UAE for a long time if they invest in expensive properties. A big real estate company in Dubai thinks getting rid of the rule about having to pay a lot of money upfront is a big step towards getting more foreign investment and making the real estate market grow more. This is what he said:

He thinks that getting rid of the rule about having to pay a lot of money upfront will help more kinds of investors get into the property market. This will not only help people from other countries invest, but it will also make the UAE’s economy better overall.

He also believes that this change will make a lot more people interested in buying properties in the UAE . This will increase the demand for both homes and business spaces.

Moreover, he mentioned that removing the minimum down payment rule fits with the UAE’s plan to make it easier for businesses to grow. He is eager to observe how this adjustment would benefit the economy overall as well as the real estate industry.

According to their research, the real estate market in the emirate has experienced an unprecedented boom. There were 1.6 million transactions which is a significant 17% increase from the year before.

With 166,400 deals in 2023 transaction values soared to AED 634 billion ($172.6 billion), representing increases in value and volume of 20% and 36%, respectively.

Investment inflows increased by 55%, with 42% of new investors coming from overseas markets, highlighting Dubai’s appeal to people all over the world.