In 2024, the real estate market in Dubai is experiencing a significant surge in demand for properties priced at 2 million dirhams and above. This has been particularly felt after the cancellation in January 2024 of the requirement for a minimum initial deposit of 1 million dirhams to obtain the “Golden” residency visa. Such a change has become a powerful motivator for investors and buyers to increase their investments in real estate with the aim of obtaining long-term residency.

Currently, the majority of developers in Dubai are striving to increase the sizes of apartments, largely to meet the growing demand for housing priced at 2 million dirhams and above. Investors who have already invested between 1.5 and 1.9 million dirhams are seeking to increase their investments to meet the requirements for obtaining long-term residency.

As a result of changes in the rules for obtaining the “golden” visa, the real estate market in Dubai is experiencing a new wave of interest, attracting clients to the purchase of apartments in new developments priced at 2 million dirhams and above. This is evidence of the dynamic development of the market and its attractiveness to investors seeking stable housing and long-term prospects.

Furthermore, it is worth noting that during the validity of the “golden” visa program, the real estate market in Dubai has demonstrated impressive growth in sales volumes. This has been made possible by the influx of large foreign investments and measures aimed at stimulating the acquisition of residential properties. There is also increased interest from tenants who prefer to purchase property to avoid rising rental costs. All these factors contribute to the diversity of demand for housing and contribute to further development of the real estate market in Dubai.