Dubai is experiencing a surge in interest from affluent retirees seeking residency through property investment. The recent policy change eliminating the minimum down payment requirement for the Golden Visa program has significantly lowered the entry barrier. This reform, coupled with Dubai’s world-class amenities and healthcare facilities, is making the city an increasingly attractive destination for this demographic.
Industry experts anticipate a rise in property transactions as more retirees look to qualify for the Golden Visa through smaller initial investments. The revised regulations allow for residency via ownership of a property valued at AED 2 million (USD $544,500), with flexible payment options available for off-plan purchases. This not only reduces the upfront financial burden but also expedites the path to obtaining a long-term visa.
Dubai’s appeal extends beyond relaxed investment rules. The emirate offers a global city lifestyle with a high standard of living, tax efficiency, and a secure environment. Additionally, retirees benefit from a diverse range of housing options, catering to various preferences and budgets.
The influx of wealthy retirees is expected to have a positive impact on the local economy. Their financial stability and spending power contribute significantly, further solidifying Dubai’s position as a premier destination for global talent and investors.
Publish March 26, 2024
Source: https://www.arabianbusiness.com/industries/real-estate/uae-golden-visa-wealthy-retirees-flock-to-dubai-after-272000-rule-change/
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