For a sluggish real estate market attempting to recover from the blow of the coronavirus pandemic, the announcement of the retirement visa was perfectly timed for Dubai. Experts and developers alike agree that the implications are big, with new sub-sectors being created in the property market focused on would-be buyers approaching retirement age. VIDEO One of the three conditions through which expats can be eligible for the retirement visa is for them to own property valued at over AED2 million (close to $550,000). Real estate developers now have a previously inaccessible market, that of 55 years old and over expats, within their reach. Retire in Dubai was launched earlier this month and so it is too soon to have solid data on its impact, but the prospects for real estate stakeholders is promising. Experts say the ...read more...
CountryUnited Arab Emirates