For UAE Golden Visas, Dh2m property buys remain the most popular choice
Buying off plan properties to get residency status in the UAE continues to be super popular among a global elite seeking to move their money and families to safe financial destinations. In a world of chaos Dubai continues to attract people and their money. Properties from leading developers like Damac, Emaar and other major developers are super popular.
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Buyers for whom getting a Golden Visa is a priority ‘typically prefer a project that’s just been launched in Dubai as long as the Dh2 million threshold is met’, said an estate agent. “Since the requirement from the authorities for a 50% payment to be made to start processing a Golden Visa has been removed, the interest from buyers has seen no drop.
“Developers will continue to target buyers specifically looking to a Golden Visa residency. 2025 will continue to see more of that.”
The other overheads are usually in the range of about 8 to 12 thousand dirhams. There are a lot of options for those who are looking ot get residency. Most residents are on work or student visas. However, for the rich who have the resources to invest then Dubai continues to see a long line of well heeled customers who are flocking here.
But a property investment remains the most favoured – “There is an increase in transactions compared to last year,” shared Libbie Burtinshaw, Head of Operations who works at Sovereign PPG.
“With more international attention on the 10-year UAE residency through property investment, many of the newcomers are exploring this route to obtain UAE visas.
“We have seen more interest in the Golden Visa program under property in Abu Dhabi too, where the authorities have streamlined the application process. But the minimum payment of Dh2 million is required.”
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Developers and estate agents believe that the visa program will continue to drive sales this year. “The best part is the residency program finds acceptance among all age groups,” said a leading source source. “Whether it’s a 30-something newcomer to the UAE with long term plans or a 50-year old existing resident who is looking at ways to extend his stay in the country to pursue other plans.”