Builders Expect A Noticeable Increase In Buying Activity As Final Government Approval Approaches.

According to market sources, Golden Visas for investors with Dh2 million or more in Dubai property assets should begin to be given out in October. The update brings, as developers get ready for more off-plan launches. In addition, those with prices above Dh2 million come with developer guarantees. Those investors will have all the assistance they need to get the desired 10-year residency visas. “We inquired about the 10-year visa with the DLD and were told that it has not begun,” said Ranjeet Chavan, from Nautilus Properties. The 3 to 5-year residency visas are still being issued as a result.

Modify Launch Times

The timing of new launches with the official announcement with Golden Visa for property purchases would be improved. If developers, at least some of them, could postpone them by a week or two. A source claims that this year’s biggest real estate market event will be the official approval. Moreover it will bring better exposure to any launch occurring at the time as we are expecting that.”

Market sources affirm that there is a resurgence in interest in Golden Visas. In addition, that this will be reflected in the upcoming wave of off-plan purchases. There are clients waiting for official word on the steps necessary to obtain a visa and how long they will take. “Even though Dubai market still experienced a lot of it during the summer, there is serious buyers interest from Europe.”

Summer Streak in Dubai’s Real Estate Market

Buying trend from June to August was indeed supported by data from the DLD, with volumes reaching 10-year highs. Again, investors who liked the possibility of obtaining 10-year residencies on property ownership here fueled a significant portion of demand. This may be accomplished through a single property worth Dh2 million or more. Alternatively, it may be accomplished through a number of assets that add up to the total.

The UAE has previously offered Golden Visas, but this round is unique because the threshold is Dh2 million. As opposed to Dh5 million or Dh10 million as in previous years. Additionally, “they can sponsor any number of nationals. Moreover, the visa will remain valid regardless of the length of time they are outside the UAE.”