Long-term UAE visa: Overseas investors express interest in real estate
International investors have shown significant interest in the UAE’s real estate market following the introduction of long-term visas, which was strongly reflected in the value of transactions recorded in the first five months of this year.
The total value of Dubai real estate transactions jumped 33 per cent to Dh34 billion in the January-May period compared to Dh24 billion for the same period last year, Dubai Land Department figures revealed, reflecting strong interest in the sector.
The value of residential and commercial properties reached Dh17 billion, while land-purchasing transactions totalled Dh14 billion and villa deals stood at Dh3 billion during the first five months of 2019.
Property developers revealed that the news of long-term visas have been well-received internationally as enquiries from foreign buyers, especially from China, grew from prospective buyers. The consistent decline in prices over the years have made the UAE’s property market pretty attractive and affordable.