Dubai developers are attracting more Indian by holding property expos in India to enlighten buyers regarding the new rules and benefits of investing in Dubai’s property market. According to Real estate experts, the recent changes to the UAE’s golden visa regulations have increased the demand for upscale homes since an increasing number of Indians are purchasing second homes in Dubai and other emirates.
Rich Indians are now more inclined to adopt a longer-term strategy and invest in real estate in Dubai as a result of the most recent revisions to the golden visa regulations. The minimum investment required by the emirate to qualify for the golden visa has been lowered from AED 5 million to AED 2 million.
Data show that in the first half of 2022, real estate sales in Dubai increased by 60% year over year to over 43,000 units, representing an increase of 87% in real estate valued at AED 115 billion. The five-year visa now has a 10-year validity period.
Director of international business India Sotheby’s International Realty, Akash Puri said, “Buying a house is the simplest way of investing and securing a golden visa. Dubai also has no capital gains tax, which makes investment in real estate a compelling proposition”.