UAE Cancels Minimum Down Payment for Golden Visa: Another Boost for the Real Estate Market
Written by
Trinity Group Partners
on
16 February 2024
Autor
Written by
Trinity Group Partners
on
16 February 2024
The United Arab Emirates (UAE) has recently dropped the AED 1 million ($ 272,258) minimum down payment previously required for eligibility for a golden visa through real estate investment. This move is part of the UAE’s ongoing efforts to encourage more residents and investors to establish deeper roots in the country. The 10-year renewable residency program, introduced in 2019, initially required investors to acquire property valued at Dh2 million or above, with a minimum down payment of Dh1 million for properties bought with mortgage or via instalments plans.
This policy change is anticipated to have a positive impact on the real estate sector and stimulate increased investment across a range of industries. By eliminating the financial barrier associated with the down payment, more investors may be enticed to participate in property acquisitions.
This strategic response to market dynamics aims to bolster Dubai’s real estate sector and ensure sustained growth and resilience in the face of evolving market conditions.
