As the UAE’s property market continues its strong recovery from Covid-19 pandemic-induced headwinds, recent changes to the country’s visa rules have opened up long-term real estate investment options for residents wanting to put down roots in the Emirates.
While average property prices in Dubai rose by 10.9 per cent, year on year, last month, residents can now qualify for a 10-year golden visa if they buy a property for as little as Dh2 million ($544,588).
Despite rising interest rates, the initiative is attracting both residents and high-net-worth individuals from around the world, with an average budget of about Dh3m, property experts say.
But where should you buy and how do you apply for the golden visa once you have decided on a property?
Host Felicity Glover is joined by Richard Waind, group managing director of Betterhomes, who discusses the UAE property market and how the golden visa is benefitting the long-term plans of UAE residents.
Hosted by Felicity Glover
Produced by Arthur Eddyson and Ayesha Khan
Listen to last month’s episode on how to beat the rising cost of living:
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Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
The biog
Hobbies: Writing and running
Favourite sport: beach volleyball
Favourite holiday destinations: Turkey and Puerto Rico
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Drivers’ championship standings after Singapore:
1. Lewis Hamilton, Mercedes - 263
2. Sebastian Vettel, Ferrari - 235
3. Valtteri Bottas, Mercedes - 212
4. Daniel Ricciardo, Red Bull - 162
5. Kimi Raikkonen, Ferrari - 138
6. Sergio Perez, Force India - 68
Poacher
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
