Dubai: How residents are increasingly becoming eligible for Golden Visa

Residents are increasingly becoming eligible for the prestigious Golden Visa residency in Dubai on the back of a rally witnessed in property prices after the pandemic.

Industry executives say that almost all the townhouse buyers are now eligible for the 10-year Golden Visa as prices have crossed Dh2 million, while the new townhouses are being launched at Dh2 million and above, making buyers eligible for the 10-year residency.

“Golden Visa has become one of the biggest attractions for overseas investors. We are getting inquiries from investors who are asking us to find a property which is Dh2 million to get the 10-year visa,” said Farooq Syed, CEO of Springfield Properties.

He said apartments in Downtown, Palm Jumeirah and Dubai Hills have seen massive growth in prices, hence, end-users who bought at Dh1.5-Dh1.8 million earlier have seen their assets’ prices surpassing the Dh2 million mark.