• Co-Habitation Rules
o Tenants are now required to register all the co-habitants in their property.
o This includes all family members and domestic helpers, but also includes shared accommodation (since 2020 the UAE now permits co-habitation of unmarried couples or unrelated housemates).
o It applies to anyone who is staying in a property who is in the UAE on a visit visa for longer than one month.
• Dubai transactions at 12 year high
o Propertyfinder has reported over 25,000 transactions totalling over AED 69 billion in Q3, which is 61% higher than the same quarter last year and a 12-year high.
o The transactions were split approximately 50:50 between secondary and off-plan.
• Golden Visa
o Golden Visa applications have started.
o Up to AED 2,000,000 in equity invested in Dubai property gets you a 10-year Golden Visa.
o Important to note that it applies to Dubai Mainland property only, not to DIFC or Abu Dhabi property.
• World Cup to create ‘Expo Effect’
o Propertyfinder have announced that they believe the world cup will have a similar impact on Dubai Real Estate as the Expo had.
o Even though it is shorter, it is expected to attract many people who cannot stay in Qatar but want to be in the Middle East for the games.
• Palm Jebel Ali Relaunch
o Nakheel have announced they are reworking plans to re-launch Palm Jebel Ali.
o Reports suggest that there will be 1,700 villas and 6,000 apartments in total on the island.
o First properties are expected to be handed over in 2025.
Join The Discussion