What will be the impact of Dubai’s new Golden Visa Scheme on real estate? Know the opinion of experts

UAE Golden Visa Rules: The UAE government has eliminated the need to invest in business or property, making the rules easier for golden visa. That is, there will be no need to invest in property or business for lifetime residency now. To get a golden visa, a fee of one lakh dirham i.e. 23.3 lakh Indian rupees will have to be paid. Whereas earlier it was necessary to invest at least Rs 4.66 crore for this golden visa.

Mid segment expected to be promoted

Now the question comes, how much will it have on the real estate market in Dubai? Let’s know what experts have to say about this? The UAE government believes that the new golden visa scheme will promote investment in property in the mid range segment.

According to the Hindustan Times report, Morgan Owen, the middle East of Anarock Group and Managing Director of North Africa, says that Dubai’s golden visa is attractive to Indians, who will get a chance to stay in Dubai for a long time by paying Rs 23 lakh without investing in property or business. He also said, surely it will give a boost to the upper middle class and affluent Indians. This section, which falls below the UHNI bracket, carries forward the ultra-wooden housing market in India.

Rental market will also get strength

Ritesh Mehta, senior director of JLL India and head of residential services and developer initiative (North and West), says, UAE is reducing the golden visa fees by Rs 23 lakh to invite young professionals and new talents, not only rich investors. We hope that this will strengthen the rental markets because in the beginning many people would like to come here and stay on rent.

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