UAE Citizenship; a new boon for the real estate market
UAE has offered us with an impeccable lifestyle that everyone wants. For years’ expatriates feared retirement or loss of job to avoid returning to their home country because to many of us UAE is home. With the new law that was passed on Saturday 30th Jan 2021 by the government officials it is now possible to attain citizenship in the UAE.
This positive update has given a sense of accomplishment and satisfaction to all the UAE residents and expatriates. Most of UAE’s population comprise of foreigners who have worked in the country for years with the hopes of one day attaining citizenship. This achievement will further enhance the developments in the country and increase the level of loyalty amongst the people.
The law states that the Emirati citizenship is given to investors, specialized talents and professionals including doctors, specialists, artists, intellectuals and inventors. This new amendment is a golden opportunity for people looking to invest in real estate. Dubai’s real estate is a flourishing market that has something in store for everyone. The only country that has a happiness ministry in the cabinet with the responsibility of enhancing everyone’s lifestyle can only prove to show how much your property investment will flourish in the coming years.
Dubai real estate market thrives upon high rental yield where an investor who has purchased an apartment worth AED1,00,000 can expect to recover their full value in around 12.5 years . The city is also proven to offer affordable housing as the property prices per square foot are lower than many other cities globally. And of course, how can we forget the plush lifestyle. With technology as its backbone, great infrastructure, high end restaurants, state of art entertainment facilities and award winning schools and universities, Dubai offers a luxurious lifestyle at an affordable price. This city is central to a well-designed community proving to be a strong reason to invest in Dubai’s real estate.
The addition of citizenship in the country has only made Dubai a desirable place to invest in. Think of Dubai as a real estate inventory with over hundred different varieties of property to offer, mainly comprised of residential and commercial properties. The residential properties include villas or apartment while the commercial properties include offices and industrial properties. If you are interested in exploring the idea of citizenship through property investment, we at Coldwell Banker offer you a one stop shop for all your property related requirements, from property management to expert consultation to help ease the process of buying/renting a house.
With the new development in place and Dubai’s ongoing efforts with tourism, manufacturing, healthcare, education and infrastructure it is safe to say that the city will continue to show progression, making it an attractive place to live.
Contact us at +971 4 382 5000 today or drop in a message on +971 55 166 0681 to know more about the market and to enjoy a hassle free real estate experience.