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The UAE New Visa Rules 

Dubai skyline at sunset

The UAE government announced new visa rules applied on October 3, 2022.
It’s a part of the Emirates’ strategy in building a bigger “knowledge economy”.

The government hopes to attract more highly skilled people to live in the Emirates. This significantly applies to scientists, coders, and tech workers. But any international talents and creative freelancers are also welcome.

Population growth is also high on the agenda. Dubai alone due to its Urban Master Plan wants to boost its 3.5 million residents to 5.8 million by 2040.
So, new residency visas through real estate investments are on the table as well.

Tourism is a part of the new visa policy, too. UAE wants to rapidly bounce back from the Covid disaster, welcoming back millions more tourists and allowing people to stay for longer periods.

The new Entry and Residence Scheme offers 10 types of entry visas with simplified requirements and more benefits:

  1. New visas require no host or sponsor
  2. More flexibility
  3. Multi entry
  4. 60 days validity
  5. One unified platform to apply at

New Visa Rules in Details

New Tourist Visas

  • Tourist visas will be valid for 60 days instead of 30 days.
  • A 5-year, multi-entry tourist visa will allow visitors to stay up to 90 continuous days in the UAE. However, they can’t exceed 180 days in a year.

UAE Golden Visa Expansion

The range of beneficiaries is expanded offering more benefits including 10 years of renewable residence.

  1. This long-term 10-year residence is granted to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes.
  2. Real estate investors can obtain Golden Residence when purchasing a property worth no less than AED2 million.
  3. Investors are also entitled to obtain the Golden Residence when purchasing a property with a loan from specific local banks.
  4. Investors can also obtain Golden Residence when buying one or more off-plan properties of no less than AED2 million from approved local real estate companies.
  5. The benefits allow the Golden Residence holder to sponsor his/ her family members, including spouse and children regardless of their age.
  6. The Golden Residence holder is allowed to sponsor support services (domestic) laborers without limiting their number.
  7. There is no restriction related to the maximum duration of stay outside the UAE to keep the Golden Residence valid.

New 5-Year Green Visa

The five-year UAE green visa is a residency visa that allows its holder to sponsor him or herself for 5 years without the need for company sponsorship, as well as offering an array of benefits to family members.

3 categories of UAE residents can apply for the green visa:
freelancers or those who are self-employed
investors or partners in commercial businesses
highly skilled workers

Dubai skyline at sunset

Residency Permits

The new system for residence visas and entry permits offers new types of residence permits for investors, skilled employees, self-employment, and family members.

The new types provide customized benefits to each category.

  1. Several visas, including the 1-year remote working visa, 5-year retirement visa, and 2-year real estate owner visa require no sponsor and can be renewed for the same period.
  2. Residents will also be able to sponsor their unmarried sons until the age of 25, rather than 18, and unmarried daughters regardless of their age.

Dubai Real Estate October Report

Dubai is an amazing city with possibly the hottest real estate market in the world. It certainly continues to show dazzling real estate numbers in October 2022. Despite the global recession, rising interest rates, and surging inflation, the new visa policy and Dubai 2040 Urban Master Plan strategy seems to do the magic trick.

Rising rents and an ever-increasing population continue to drive demand for residential and commercial property.

Off-plan sales are holding steady despite costly interest rate rises, as many developers are offering finance packages and other incentives.

Let’s look at some numbers.

In October 2022 there were 8,691 property sale transactions in total.
And that is up 62.3% vs. October 2021. Total sales value is AED 25.4B, which is up 93.7% vs. October 2021.

Off-plan vs. Ready property sales:

Sales Volume
Off-plan – 58%
Ready – 42%

Sales Value
Off-plan – 60%
Ready – 40%

Dubai property sales value by category:

Villa 25%
Plot 20%
Apartment 54%
Commercial 1%

The property demand in October 2022 was mainly in these 5 areas:

Business Bay
Dubai Marina
JVC
Palm Jumeirah
Al Merkadh

Property sales volume by price range. This sales value proposition does not include the mortgage transactions:

Below 1 M – 28%
1-2 M – 38%
2-3 M – 18%
3-5 M – 11%
More than 5 M – 11%

TOP-5 Areas for Apartments Sales

Business Bay,
average sales price AED 1,561,000

JVC,
average sales price AED 600,000

Palm Jumeirah,
average sales price AED 5,404,500

Dubai Hills Estate,
average sales price AED 1,516,366

Dubai Marina,
average sales price AED 1,603,444

TOP-5 Areas for Apartments Rentals

International City, Dubai Silicon Oasis,
average rent price AED 33,000 (per year)

Discovery Gardens, Al Furjan
average rent price AED 40,000 (per year)

JVC
average rent price AED 45,000 (per year)

Al Marsa (Dubai Marina, JBR, Bluewaters, and Dubai Harbour)
average rent price AED 100,000 (per year)

Business Bay
average rent price AED 75,000 (per year)

In October 2022, the property prices of apartments and villas have shown an upward trajectory across both luxury and affordable segments. The average sales price per square foot of affordable properties has shown an appreciation of up to 14%, whereas that for affluent areas has increased by up to 6%.

Similarly, housing costs of rental properties in Dubai have increased across both luxury and affordable segments. There is a 15% increase in the cost of reasonably-priced properties, whereas luxury rentals have surged by up to 25% in certain areas.

Sources: Dubai Land Department (DLD), DXBinteract.com, Bayut

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