Search by map
New visa reforms in the UAE are expected to encourage residents and investors to enlarge their investment portfolio and enjoy long-term residency benefits.
It is expected, that new reforms will attract more high-net-worth individuals (HNWI) from around the globe and make them stay here for longer periods of time.
“The UAE’s property market has always been attractive to foreign investors; by offering long-term residency, the government aims to strengthen investor confidence even further,” said Niall McLoughlin, senior vice-president of Damac Properties.
The new amendments to visa reform imply that property investors can obtain a five-year residency visa in case of investing at least AED5 million in property, while investments over AED10 million will guarantee you a 10-year long visa.
The five-year retirement visa for expatriates aged 55 or above will be also available on the basis of of minimum AED2 million property investments in the UAE.
“If you’re planning to get a 10-year visa, your properties shouldn’t account for more than 40 per cent of your total investment portfolio amounting to AED10 million and above,” said McLoughlin. “In the case of the latter, investors can invest in multiple properties up to a total of 40 per cent of their total investments.”
Experts forecast that new reforms implemented to stimulate demand will eventually benefit residential and office sectors the most, though the market may not see any changes in the type of units being widely constructed in the immediate term, as developments are master planned years in advance. However, developers will definitely factor in the new AED5-million price point margin, when planning future supply. Thus, we will see more long-term visa compliant units being marketed in the nearest future, analytics believe.
New regulation applies to both secondary and new properties with the price tag over AED5 million. And, according to market sources, there is quite a lot of units in stock, enough to satisfy even this bursting demand, so that both end users and investors could get the most out of new reforms.
As of now, there are nearly 5,500 property units priced about AED5 million, which are listed on different UAE real estate advertising web portals. In the super-prime segment of the market, there are more options in this price category in areas such as , Dubai Hills, , Tilal Al Ghaf, and .
New premium stock eager to attract shifting demand and fuel the competition in the market includes such developments as the Royal Atlantis Residences, 118 Downtown, , Opera District, , One at Palm Jumeirah and the Alef Residences.
In all of these projects, as well as in many others in different parts of Dubai, IMEX Real Estate can offer you a wide choice of . Please, don’t hesitate to contact us at:
Tel. in Dubai, UAE: +971 (50) 2528188 (Whatsapp, Viber, Telegram)
Toll Free Dubai: 800-IMEX (800-4639)
IMEX REAL ESTATE BROKER LLC, UAE
Office 2502, Marina Plaza, Dubai Marina, Dubai, UAE
Email: pm@IMEXre.com
Skype: resident69
