More Indians Are Seeking A Home In Dubai After UAE Relaxes Golden Visa Rules

by Vaishalee Kalvankar
More Indians Are Seeking A Home In Dubai After UAE Relaxes Golden Visa Rules

UAE recently eased its golden visa norms making it easier for people in the foreign countries to buy property here. The Golden visa users are allowed to stay for 10 years unlike 5 years as earlier and reduced the investment needed from AED 5 million to AED 2 million.  According to real estate advisors, more Indians are choosing to buy a second home in Dubai and other emirates as a result of the changes announced. 

Real Estate Developers In Dubai Have Begun Expos In India

The emirates recently brought in changes with respect to the golden visa norms and the wealthy Indians see this as a long term profitable opportunity interesting them to invest in properties in Dubai. Dubai attracts most of the demand and so the real estate developers have already begun expos in India to make the Indian buyers aware of the new rules and regulations and also the benefits of the same. India Sotheby’s International Realty’s director for international business, Akash Puri said that the simplest way of securing a golden visa and investing is by buying a house as Dubai has no capital gain tax. 

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Also Read: Golden Visa Holder In UAE Can Now Enjoy These Additional Privileges

Inquiry For Property In Dubai Increased

For Indians looking to invest in Dubai, many Indian brokerage firms have started hosting property expos, and the response has been amazing. The data shows that the sale of property in Dubai increased by 60% in the first half of the year 2022. The luxury homes in Dubai have become more attractive owing to lower price points. Inquiries for properties in Dubai increased by 10-12% in the first half of 2022. Another factor to drive the demand for property in Dubai is its proximity to India. 

Also Read: UAE Golden Visa Holders Will Get Exclusive Health Insurance Cover