UAE Golden Visa: Why more employees with 10-year residency buy Dubai properties

The UAE professionals holding Golden Visa are increasingly buying properties in Dubai to beat rising rents as they intend to stay in the emirate longer, making sure they get a higher Return on Investment (RoI) by purchasing properties at a lower price.

The long-term residency visa is awarded to investors and professionals across various categories such as doctors, engineers in different fields, PhD degree holders, outstanding students, scientists and others.

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In 2023, Golden Visas were granted to 158,000 people in Dubai alone, which gives the 10-year residency holders in the Emirates multiple exclusive benefits such as re-entering the country without restriction even when they stayed outside UAE for more than six months, not needing a sponsor, and not having to deal with maximum limit on the number of support workers and others.

Michael Gelpke, CEO at Glam Properties, said the majority of the 158,000 Golden Visa holders own property in the emirate or have invested in local real estate.

“This surge is largely attributed to recent policy changes that have made it easier to qualify for a Golden Visa through property investment, including the removal of the Dh1 million minimum down payment requirement.

"Additionally, high returns on investment, with high rental yields, and rising property prices have attracted investors. The UAE's economic stability, world-class infrastructure, and strategic location further enhance its appeal," Gelpke added.

Dubai’s property market saw record transactions this year, driven by demand from Golden Visa holders, foreign investors, and residents who want to beat the rising rents.

“There's a noticeable shift towards an end-user market, with investors planning long-term residency. Demand for high-end properties is increasing, and the off-plan property segment is growing consistently,” highlighted Gelpke.

Anmoll D Shroff, founder and chairman of Elton Group, said Dubai witnessed a significant increase in property buying by professional Golden Visa holders as it gave them a lot of confidence about their long-term prospects in the country.

“A lot of bankers, doctors and artists who have 10-year residency have bought properties in Dubai as they can plan on a long-term basis. Also, investment avenues are appealing because the return on investments is good and property prices per square foot are very reasonable. So a lot of factors have made it appealing for professionals possessing Golden Visa to invest in the real estate market," Shroff underlined.

He also noted that “not being dependent on anyone for visas is also a big confidence boost among residents and investors.”

Akshay Nagdev, business head at Foremen Fiefdom, said professionals holding Golden Visas are buying significantly more properties now than before, largely driven by Dubai's recent policy change, which eliminated the requirement of a minimum down payment of Dh1 million for the 10-year residency visa, boosting interest in properties valued at Dh2 million and above.

“Dubai’s more accessible and attractive visa policies have played a significant role, alongside developers offering special incentives targeted specifically at visa holders. Additionally, Dubai's stable economy, tax benefits, and high quality of life make it an attractive investment destination. Buyers also appreciate the flexibility to invest in off-plan properties.

“Overall, the combination of favourable visa policies, economic stability, and targeted incentives has created a thriving real estate market for Golden Visa holders in Dubai, leading to a significant increase in property purchases compared to the previous year,” said Nagdev.

Where are Golden Visa holders buying?

Nagdev added that professionals holding Golden Visas in Dubai are increasingly opting for larger and high-value units as well as properties that offer high rental yields.

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