Are you planning to buy property in Dubai? If yes, then there is a good news for you. Buying property in Dubai has now become easier. Even if you don’t have a lot of money to invest, you can still get a Dubai residential visa with a very small investment. According to the report, the government has removed the condition of minimum property value already fixed for property related visa.
Visa now available for small investors
Actually, the Dubai government has decided to make some changes in its rules to promote investment in real estate. This decision has been taken specifically to facilitate such growth, and is expected to significantly benefit small investors. According to the new rules, there is no longer any minimum value of property to get a two-year property-linked residency visa. Previously, investors were required to purchase a property worth at least 750,000 dirhams (approximately ₹1.9 crore in Indian currency); But, now this mandatory condition has been removed.
Rules for joint ownership
However, the government has introduced a new rule specifically for cases where two people buy a property together. Under the new rules, if a property is owned by more than one investor, each investor’s stake in the property must be at least 400,000 dirhams (approximately ₹1.03 crore in Indian currency). Earlier, it was difficult for small investors to enter the market due to high price ranges.
This initiative focuses on the mid-segment of the market, creating a huge opportunity for investors. This not only opens up new avenues for individual buyers, but is also expected to boost the sale of properties that previously did not meet the eligibility criteria for visa issuance. Only when investors are given more flexible options will we see further growth in property sales in Dubai, which will have a positive impact on the overall market.
