Is now the time to invest in UAE property? — ‘Pocketful of Dirhams’ – The National

Is now the time to invest in UAE property? — ‘Pocketful of Dirhams’ – The National

As the UAE’s property market continues its strong recovery from Covid-19 pandemic-induced headwinds, recent changes to the country’s visa rules have opened up long-term real estate investment options for residents wanting to put down roots in the Emirates.

While average property prices in Dubai rose by 10.9 per cent, year on year, last month, residents can now qualify for a 10-year golden visa if they buy a property for as little as Dh2 million ($544,588).

Despite rising interest rates, the initiative is attracting both residents and high-net-worth individuals from around the world, with an average budget of about Dh3m, property experts say.