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Dubai has eliminated the minimum investment requirement for obtaining a residency visa by investing in real estate. This significant policy shift is expected to attract more foreign investors and enhance the city's appeal as a global investment hub.

New Residency Rules Unveiled

Under the revised regulations, individuals who own property in Dubai can now apply for a two-year residency visa. If a property has multiple owners, each individual's share must be valued at a minimum of 400,000 UAE dirhams (approximately $109,000 USD).

Previously, the minimum investment in real estate to qualify for a residency visa stood at 750,000 UAE dirhams (around $204,000 USD). This substantial reduction in the entry barrier is poised to make Dubai more accessible to a wider range of potential investors.

Impact on the Investment Market

Experts anticipate a positive impact on Dubai's real estate market following this announcement. The city's luxury property sector saw robust activity last year, with approximately $2.6 billion USD in transactions across 143 deals. This represented a significant 52% increase compared to the previous year, indicating a strong and growing investor interest.

This move by Dubai authorities aims to further stimulate the real estate sector and encourage foreign direct investment, reinforcing its position as a prime destination for both living and investing.

This was reported by Infohub.kz.