Dubai is certainly a superb objective for property purchasers like never before previously. Purchasing an estate in Dubai implies both public and expat purchasers are presently conceding fascinating benefits with regards to terms of bank credits and visas. Indeed, the UAE government has recently introduced a series of plans and laws to regulate the property ownership market in order to contribute to the development of the market and restore investors’ confidence in the nation after two years of severe economic downturn.

According to a report from the Dubai Land Department, real estate transactions reached a staggering AED 1.31 billion between mid-December and November 2021. There are currently a lot of villas and apartments for sale in Dubai, and more construction projects are being built to meet the growing demand. This is also due to clever plans that the government of the United Arab Emirates has devised with the intention of increasing property investments and fostering a healthy and thriving real estate market.

 The amount of your home mortgage, also known as home finance in the United Arab Emirates, is primarily determined by your salary. Each bank specifies the minimum salary that is accepted and the interest rate because your salary is what guarantees covering the loan amount throughout the entire period. Because of this, if you want to buy an apartment in Dubai, the total mortgage amount is given to you, and you have to pay the bank specific monthly installments.

Any residence or villa for sale will require a down payment equal to at least 25% of the total price if you are an expat. The maximum Loan to Value Ratio has been established by the government as follows:

For UAE residents:

The LTVR for a property that is worth up to AED 5 million and is intended for first-time homebuyers will not exceed 80% of the property’s value. The LTVR will not exceed 70% of the property’s total cost if it costs more than AED 5 million. A maximum LTVR of 65% of the property’s value will be granted to buyers of second homes.

Foreign nationals:

If the property value is less than or equal to AED 5 million, the LTVR must be at least 75% of the property’s value for a first-time homebuyer. If the property price is greater than AED 5 million, the LTVR must be at least 65% of the house’s total price. Briefly home buy, ex-pats are conceded an LTVR of a limit of 60%.

Purchase made off-plan:

The LTVR is only 50% for both nationals and foreigners, regardless of the property’s purchase price, for off-plan residences. The maximum loan term is 25 years, and the maximum age at which a borrower can be reimbursed is 70 for nationals, 65 for foreigners, and 70 for self-employed individuals.

The Dubai government has made changes to the rules for issuing visas, including new visa policies. Due to the fact that approximately 89% of Dubai’s population is made up of expats, this kind of policy change aims to increase investments, particularly in the real estate sector, and to give foreign investors and residents a sense of belonging.

Visa for Long-Term Residence: Investors in public investments or properties are eligible to receive the Golden Visa, which is also known as the Investor Visa. For the first, the investment must be at least AED 10 million, and the Golden Visa can only be used to invest in freehold and residential properties—no off-plan properties are allowed. Your property must have a purchase price of more than AED 1 million, or you must have more than three properties with a total value of AED 1 million. The required amount cannot be borrowed, regardless of the type of investment. Specialized talents and researchers in the fields of science and knowledge may also be granted the Golden Visa.

Visa for 5 years as a Resident: You must purchase a property worth more than AED 5 million in order to obtain it, and the purchase must not be based on a loan from any bank or financial institution. The acquired property will also be kept for at least three years. You can also sponsor members of your family with this visa. Outstanding students are also eligible for the 5-year long-term visa, subject to certain conditions.

Visa for Three-Year Residency: If you purchase a property in Dubai that is worth more than AED 1 million, you are eligible to become a resident of the UAE with this type of visa, which is issued by the DLD. Keep in mind that you can’t go abroad for more than six months at a time with a 3-year residency visa.

Multiple Entry Visa for Six Months: If your property’s value exceeds AED 1 million, you can get this visa from the immigration authorities. It lets you enter multiple times in any of the seven emirates over the course of six months.

Visa for Retirement: The retirement visa is only available to retired residents over 55 years old and is valid for five years. To qualify, you must purchase a property worth AED 2 million, have a minimum of AED 1 million in savings, and have an active monthly income of at least AED 20,000. The retirement visa can be restored assuming that you meet the qualification measures

Citizenship Regulation: Under certain conditions, the Emirati nationality can be obtained for a select group of expatriates, including professionals, investors, and individuals with special talents, through this newly amended citizenship law. This new rule aims to increase the demand for real estate by encouraging foreigners to live in Dubai.

The self-sponsored remote work visa is one of several new government efforts to attract foreigners. It makes it possible for workers from all over the world to live here and work from home for companies that are based in other countries than the United Arab Emirates. With your sponsorship, you can apply for a family residence visa once the long-term visa is granted.