With the new reforms to obtaining the UAE residency visa system using a Dh2 million property investment, the latest change in Golden Visa Policy have had a huge impact on the real estate market in the Gulf region.
According to the brokers, this change has brought an influx of potential buyers. While professionals have indicated that the reforms will show more results by the end of September, this year.
To get the visa eligibility, the individuals need to pay a down payment of DH200,000 which is 10% of Dh2 million. The developers’ installment scheme will cover the remaining amount.
Currently, the developers are working on this scheme to enhance the day ahead and will become more competitive for the investors. This anticipates that a visa-link scheme may introduce to the residents sometime after the Eid holidays.
Apart from the 10% scheme, there is also a 25% scheme for the buyers. However, in that case, the down payment of the property would be around Dh500,000 which is 25% of the investment.
For developers, this scheme will be valid if the individual is considering taking a mortgage on the property. However, professionals say this may not be an affordable option for many investors. The government rules seek that the Golden Visa property investment should be accepted via cash sales only.
As CEO of fam Properties, Firas Al Msaddi admitted to the huge prices of the UAE Dh2 million property. The scheme is, therefore, bringing the growth of UAE properties to a significant level in global value.
Mix of Affordability
There are buyers who show interest in a property but may not be able to acquire it due to the DH2 million fund scheme. Due to the relaxations in affordability, many investors might show interest in the direct-from-developer scheme. Apparently, new investors are significantly benefitted from this scheme.
Many individuals who are signing up for Golden Visa are reportedly the new residents of UAE spending a lot more time at the bank to receive the mortgage benefits. Therefore, this can be a problem that the developers can solve.
The developers have alternative options that can help to speed up the transaction process.
Better Investment Opportunities
The UAE is economically flourishing investing in a property predict to have several advantages. Two-bedroom units and townhouses are going to exclusively belong to the gold standards, especially for the investors. These formats are anticipated to record the market valuation.
At present, there are several projects in the UAE that are in the evolving phase the real estate is one among them. Henceforth the developers need to make customer-friendly changes to the payment schemes to ensure more results.
The scheme will be also helpful in determining the visa eligibility of the buyer. Since the main property for investment destinations are ready. The investors need to showcase the Dh2 investment plan to establish a stronger market.
The off-plan choices can help to determine the value of the investment.