The introduction of the UAE’s Golden Visa has transformed the real estate market, offering a new avenue for property buyers and investors. Since its introduction as a residency program intended to attract talented working professionals, businesspersons, investors, and other outstanding talents, the Golden Visa has impacted the sale of apartments especially in the UAE’s prime cities of Dubai and Abu Dhabi.
The effect that the Golden Visa has had on the sale of apartments is best illustrated by the general increase in investor confidence. People from various countries consider the Golden Visa to be a safe way of obtaining a residence permit in a country with a stable and developing economy. This has led to an increase in the number of rental houses and particularly, luxury apartments in Dubai.
Due to this program, the investors can keep property in the UAE for a long time (up to 10 years), so many of them are ready to buy apartments with confidence in their legal status. This is especially attractive for those wanting to diversify their portfolios in a country with no taxes and favorable for business.
The Golden Visa program has broadened its eligibility criteria, making it accessible to a larger pool of individuals, including professionals in healthcare, technology, and education. These high-net-worth individuals (HNWI) and skilled professionals are now in need of permanent residences, a factor that is propelling the demand for residential apartments.
A lot of Golden Visa holders prefer to buy rather than rent since acquiring property in the UAE gives them a feeling of stability and a longer stay. This shift from renting to owning has shifted apartment sales rates up in a noticeable manner given quality living and accessibility to essentials such as schools, hospitals, and business premises.
Yet another significant influence that the Golden Visa has on apartment sales is its contribution to the luxury property sector. This category of individuals has reasonable capital to invest in real estate hence attracting more buyers in premium and high-end apartments. Specific locations such as Downtown Dubai, Dubai Marina, and Palm Jumeirah recorded an increase in property sales; some investors are ready to overpay for elite apartments.
To those who view the Golden Visa as a ticket to improving life and security in the UAE, luxurious apartments are enjoyable as well as profitable. This in turn exerts pressure on developers to build more luxury residential units in order to meet the needs of the Golden Visa holders.
In conclusion, it is possible to note a generally positive effect of the UAE’s Golden Visa on apartment sales as demand from long-term investors and residents has risen across all segments particularly affecting high-end and mid-market properties. In this direction, real estate developers view this trend as a chance to meet the increasing market demand for quality apartments. For buyers, it offers an opportunity to obtain a residence in one of the most vibrant and sought-after markets globally.
