UAE: Increasing demand in Golden Visa from European Property Investors

The demand for the UAE's Golden Visa among European property investors purchasing assets in Dubai is growing significantly, according to industry executives familiar with the trend.

UAE's Golden Visa Draws European Property Investors to Dubai

Some investors are acquiring property in Dubai primarily to secure the 10-year residency offered by the Golden Visa. Executives note that investors from countries such as Switzerland, Germany, France, the UK, and others are increasingly attracted to the tax-free income, safety, security, and high investment returns provided by the Emirates.

Jess Stephenson, head of sales progression at Allsopp & Allsopp Group, highlighted the interest from European buyers in Golden Visas, emphasizing the benefits such as family sponsorship, extended stays, and residency privileges. The 10-year residency permit, a pivotal incentive, has significantly influenced talent attraction globally, extending to property investors, professionals, entrepreneurs, scientists, and top students.

Dubai has witnessed a notable surge in Golden Visa issuances, reporting a 52% increase in the first half of 2023 compared to the preceding year, according to the General Directorate of Residency and Foreigners Affairs (GDRFA) – Dubai. Luxury and ultra-luxury property segments in Dubai have experienced a substantial surge in demand following the introduction of the Golden Visa for property investors. This influx of affluent individuals to Dubai underscores the city's appeal for its safety, world-class education, and contemporary lifestyle.

Miloš Antić, vice-president of DHG Properties, noted strong interest from European buyers, particularly from Serbia, Switzerland, and Germany, attributing the trend to Dubai's tax advantages and comparatively lower property prices. Imran Farooq, CEO of Samana Developers, emphasized the long-term residency aspect of the Golden Visa, particularly appealing to Europeans seeking stability, safety, and favorable tax regimes.

Farooq Syed, CEO of Springfield Properties, highlighted Dubai's real estate market as an attractive investment destination for European investors, citing factors such as stable economic growth, advanced infrastructure, and high rental yields. European property developers are also capitalizing on Dubai's real estate opportunities, with companies like DHG Properties venturing into the market to cater to the growing demand from European investors.

Read also: Dubai Authority clarifies passengers compensation rights for flight delays

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