How the Golden Visa Program stimulates the Dubai Real Estate Market

Dubai's real estate sector is expected to benefit from the arrival of 65,000 new residents in the emirate who have recently received golden visas.  Walid Al Zarooni, CEO of one of the Dubai brokerage companies, is sure of this.

Walid Al Zarooni added that gold card holders are always potential investors in Dubai real estate and each of them can plan to buy a family home. This promises a potentially huge economic return from the introduction of the golden visa program in various sectors, even not related to real estate.

He said: "Dubai aims to accelerate its population growth through various measures and attract investors with high levels of equity and skills, which will have a positive impact on the real estate sector in the medium term and increase demand for all categories of luxury housing".

The purpose of this UAE residence permit program, like other types of visas, is to strengthen the local economy, support economic growth, and attract independent entrepreneurs, exceptional minds and talents to develop the UAE economy. According to experts, this vision will help improve the position of the UAE as a global incubator of innovation and talent.

Another factor stimulating the Dubai real estate market is that the length of the period of residence in the country encourages holders of golden visas to move into the category of buyers instead of renting real estate. After all, when calculating the total cost of rent paid for rental housing for 10 years, whether it is an apartment or a villa, the resulting amount will be close to or even may exceed the cost of the object itself. Therefore, it is preferable to buy a house, which can also grow in price in a short time and become a profitable investment.