Market sources indicate that the issuance of Golden Visas for investors with Dh2 million or more in property assets in Dubai will begin in October. As a result of this news, developers are gearing up for additional off-plan launches, with those costing Dh2 million or more, including guarantees that buyers would get full assistance in applying for the much sought-after 10-year resident permits.
Official Announcement For The Golden Visa
At least some builders could delay their product releases by a couple of weeks so that they coincide with the announcement of the Golden Visa’s availability for real estate transactions. However, according to market sources, the fresh wave of off-plan purchases in the coming weeks will reflect the pent-up demand for the Golden Visas. In addition, some customers are waiting for an official update on how long it will take to get the Visa and what you must submit paperwork.
Dubai #GoldenVisas for Dh2m property owners in October
Developers expect clear spike in buying activity closer to final government sign-off
— Gulf News (@gulf_news) September 7, 2022
Also Read: Justin Bieber Cancels All His Concerts In India And Dubai
Dubai Property Market Scenario In Summer
The numbers of transactions recorded by the Dubai Land Department for June through August were the highest in ten years. Again, many buyers were attracted by the prospect of ten-year residency visas for property owners. You may accomplish this by collecting assets of Dh2 million or more or by a single property of that value.
The United Arab Emirates (UAE) has issued Golden Visas previously. However, the current Dh2 million threshold is much lower than the previous Dh5 million and Dh10 million thresholds.
Also Read: Dubai Welcomes Its First Ever BTS-Pop-Up Store Called Space of BTS