The United Arab Emirates (UAE) has announced a relaxation of the conditions for obtaining a 10-year resident visa through property investment. Investors are now no longer required to pay a 50% down payment when purchasing a property worth AED 2 million or more on a mortgage.
New rules
Under the new rules, the down payment will be reduced to 20%. Investors are also allowed to purchase a property at any stage of construction. The minimum property value remains unchanged at AED 2 million.
Eligibility
To be eligible for the 10-year golden visa, foreign investors must:
- Purchase a property worth AED 2 million or more in the UAE
- Make a down payment of at least 20%
- Obtain a mortgage from a UAE bank
Benefits
The 10-year golden visa offers a number of benefits, including:
- The right to live and work in the UAE for 10 years
- The ability to sponsor family members
- The right to enter and exit the UAE multiple times
- Access to education and healthcare in the UAE
Dubai real estate market
The Dubai real estate market is a liquid market with strong investment potential. Property prices in Dubai have been rising steadily in recent years, with average annual growth of 55%. In 2023, the total value of real estate transactions in Dubai reached AED 112.2 billion, with foreign investors accounting for nearly half of all purchases.
According to the Dubai Land Department, there were a total of 166,400 real estate transactions in Dubai in 2023, the highest number ever recorded in the emirate.
The relaxation of the conditions for obtaining a 10-year resident visa is expected to further boost the Dubai real estate market by attracting more foreign investment.
