by admin
UAE Says, “No Need For Big Money Upfront To Live Here!”
Guess what? The UAE just made it easier for people to get a property with golden visa. No more stressing about coughing up a huge amount before you can stay here. You used to need to pay AED1 million ($272,294) just to start the process, but not anymore!
Now, all you need is a property worth AED2 million or more. It doesn’t matter if it’s a brand-new place, an older one, or if you’re paying in installments. Vinayak Mahtani, who knows his stuff as the CEO of Bnbme Holiday Homes, spilled the beans and said, “If the property is worth AED2 million, you can get a golden visa, no big upfront payment required!”
This is like a magic trick by the government to keep the real estate market booming. Thousands more people can now join the Golden Visa Club without breaking the bank. Joanna Matthews-Taylor, a law expert, confirmed the change but reminded us that the property still has to be worth more than AED2 million to get that golden ticket.
The owner of a famous real estate agency is thrilled about the news, saying it’s going to be super popular with buyers. Dubai’s real estate market was supposed to take a small dip, but this surprise move might just save the day.
Tatjana Lescova from S&P Global Ratings warned about possible problems, like too many new houses and not enough people to live in them. But Vinayak Mahtani thinks Dubai is still a bargain compared to other big cities, and he’s predicting big growth.
At a fancy meeting in Davos, Hussain Sajwani, the big boss at Damac Properties, predicted prices will go up by 5 to 10 percent this year. He’s pretty confident the market will stay strong for at least two more years.
Now, thanks to this golden visa update, people might be more into buying off-plan properties. Mohit Bhojwani from Property Zone Real Estate thinks so, saying it makes the visa process easier.
Louis Harding from Betterhomes thinks the UAE is growing up. It’s becoming more than just a place with no taxes. Sidharth Kumar from Forest Hills Real Estate sees this as a chance for people with properties valued below AED2 million to dream big and aim for that golden residency.
Remember when getting a visa was tied to your job, and it felt like a temporary deal? Well, the UAE is changing that. The government wants more people to stay, so they’re making it easier for investors, students, and professionals to make this place home.
And guess what? Saudi Arabia is also joining the competition, offering cool incentives for skilled workers and investors. Looks like the Gulf is turning into a residency race!
