In a move that is reshaping the way expatriates live and work in the United Arab Emirates, more employees with 10-year residency visas are opting to invest in Dubai properties. The introduction of the UAE Golden Visa has provided these long-term residents with the security and stability needed to consider buying a home in the bustling city.
The Golden Visa program was launched in 2019, offering 10-year residency visas to select groups of individuals, including investors, entrepreneurs, researchers, and outstanding students. In 2021, the program was expanded to include individuals with 10-year resident visas as well, making it even more attractive for expatriates looking to put down roots in the UAE.
One of the key reasons why employees with 10-year visas are turning to the property market in Dubai is the sense of permanence that comes with owning a home. With a long-term visa in hand, these residents no longer have to worry about renewing their residency permits every few years, providing them with a greater sense of stability and security.
Furthermore, buying a property in Dubai can also be seen as a smart investment option for expatriates looking to establish roots in the city. The real estate market in Dubai has shown resilience, even in the face of global economic challenges, making it an attractive destination for property buyers looking for long-term growth potential.
Additionally, owning a property in Dubai provides residents with the opportunity to customize their living space to suit their needs and preferences. With a diverse range of properties available in the city, from luxurious villas to modern apartments, expatriates with 10-year visas have the freedom to choose a home that meets their lifestyle requirements.
The ability to secure a mortgage as a long-term resident in the UAE has also made property ownership more accessible to employees with 10-year visas. Banks and financial institutions are more willing to offer financing to individuals with stable residency status, making it easier for expatriates to fulfill their dream of owning a home in Dubai.
Moreover, buying a property in Dubai allows residents to build equity over time, providing them with a valuable asset that can appreciate in value. This can be particularly beneficial for expatriates who plan to stay in the UAE for the long term, as owning a property can provide them with a sense of financial security and stability in the future.
Overall, the increasing trend of employees with 10-year visas investing in Dubai properties is a testament to the growing appeal of the city as a residential destination for expatriates. With the UAE Golden Visa program providing long-term residents with the stability and security needed to pursue property ownership, more expatriates are seizing the opportunity to establish roots in Dubai and enjoy the benefits of owning a home in this vibrant and dynamic city.
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