As the UAE’s property market continues its strong recovery from Covid-19 pandemic-induced headwinds, recent changes to the country’s visa rules have opened up long-term real estate investment options for residents wanting to put down roots in the Emirates.
While average property prices in Dubai rose by 10.9 per cent, year on year, last month, residents can now qualify for a 10-year golden visa if they buy a property for as little as Dh2 million ($544,588).
Despite rising interest rates, the initiative is attracting both residents and high-net-worth individuals from around the world, with an average budget of about Dh3m, property experts say.
But where should you buy and how do you apply for the golden visa once you have decided on a property?
Host Felicity Glover is joined by Richard Waind, group managing director of Betterhomes, who discusses the UAE property market and how the golden visa is benefitting the long-term plans of UAE residents.
Hosted by Felicity Glover
Produced by Arthur Eddyson and Ayesha Khan