Dubai’s property market is booming, with no signs of slowing down. Recent months have seen steady growth, including a 2.5% price rise in May, the largest increase in over two years. Even previously less desirable areas are seeing higher property values. With ongoing off-plan property launches and an anticipated 100,000 transactions this year, the market is set to break records.
Types of Visas for Property Owners
For property owners, two visa options are available:
- Golden Visa: This offers a five-year residency for individuals who own property with a minimum equity value of Dh2 million. It allows unlimited time outside the UAE without restrictions on travel.
- Property Investor Residence Visa: Requires a minimum investment of Dh750,000 (or Dh1 million for joint ownership with a spouse). This visa, renewable every two years, requires owners to return to the UAE every 180 days.
In both cases, the property must be fully paid for, with no mortgage, and the investment must be in equity.
Dubai’s growing population fuels demand for housing, contributing to the market’s strength. Ambitious plans aim to double the population by 2040, further driving demand. Developers are responding with new projects, such as Palm Jebel Ali and Expo City, to meet this need. Although prices are expected to stabilize as supply catches up, the market is maturing rather than facing a downturn.
Additionally, the resumption of international travel, particularly from China, could further boost the property market as Chinese investors re-enter the scene.
