Property
December 21, 2022
Reading Time: 2 min

Dubai properties have doubled in value over the year

In October 2022, the Dubai Land Department registered 8,816 purchase and sale agreements totaling 25,83 billion AED, or about $7 billion.

The price index for Dubai residential properties increased by 98% year-on-year, while property sales increased by 67%.

UAE real estate investors can get a resident visa. Depending on the property cost a visa is issued for 2 or 10 years.

Julia Loko
Julia Loko

Investment programs expert

How to get a UAE residence permit for buying real estate in Dubai

Dubai properties have doubled in value over the year

The Dubai Land Department publishes the Mo’asher Index, which assesses the residential real estate market. The 2012 data is used as the baseline for the index calculation.

Sales of real estate. Since the beginning of 2022, the value and sales of UAE residential properties have been growing steadily: the total real estate transaction volume increased by 67%, and the average check by 168%.

Analysts at Zoom Property Insights also note Dubai real estate prices increase. According to their report, apartment prices increased by more than 8,5%, while villa prices increased by 13%.

Elena Ruda

Elena Ruda,

Chief Development Officer in Immigrant Invest, lawyer

The UAE is one of the most actively developing countries in the world, and Dubai is the most popular Emirate for living and buying real estate. More and more luxury real estate is being built in the region, which attracts investors from all over the world.

Literally everyone is heading to Dubai today: it has topped the list of cities with the highest tourist spending. They spent $29,4 billion in 2022.

Dubai real estate is in high demand, and the best properties are sold out in a few weeks.

Rental of real estate. In October 2022, the Dubai Land Department registered 53,756 real estate rental agreements. Of these, 60% were new contracts, and the other 40% were renewal contracts.

70% of transactions were concluded for residential real estate rental, and 30% for commercial property rental. 90% of tenants signed a one-year contract.

The most popular areas of Dubai for renting real estate are:

  • Jebel Ali First;

  • Al Warsan First;

  • Al Barsha South Fourth;

  • Marsa Dubai;

  • Business Bay.

Dubai real estate: the best areas for rentals

How to get a UAE resident visa as an investor when buying a property

Investors can get a UAE resident visa for either 2 years or 10 years when buying real estate. The visa validity period depends on the purchased property’s cost:

  • 2-year visa is issued for purchasing a real estate property for at least AED 750,000, or $204,000;

  • 10-year visa — for buying a property for at least AED 2,000,000, or $544,500.

Investors can choose a finished property or a property under construction in Dubai from an accredited developer. Applicants can also get a mortgage if the initial payment is more than 50%.

Investors with a resident visa can come to the UAE at any time, but living in the country is not necessary. But to maintain the status, investors need to come to the Emirates 1‑2 times a year.

Immigrant Invest is a licensed agent of government programs in the European Union and the Caribbean. If you want to buy a property in Dubai and get a resident visa in the UAE, please consult the experts in investment programs.