• ​​​​Dh634 billion real estate sales transaction values across 166,400 deals last year

United Arab Emirates, Dubai: In a bid to foster greater investor participation and deepen ties with residents, the UAE government is reported to be considering scrapping the Dh1 million ($272,294) minimum down payment requirement for golden visa eligibility through real estate investment.

Farooq Syed, CEO of Springfield Properties, a prominent real estate brokerage in Dubai, has hailed the potential elimination of the AED 1 million minimum down payment for real estate investments to qualify for golden visas as a significant step towards attracting foreign investment and catalysing growth in the real estate sector.

Syed remarked, "The removal of this financial threshold widens the doors for a more diverse pool of investors, fostering increased engagement in the property market. This not only benefits international investors but also bolsters the overall development and prosperity of the UAE economy."

Recent figures from Dubai Land Department reveal that the emirate's real estate market has reached unprecedented heights, witnessing 1.6 million transactions in the previous year, reflecting a notable 17% surge compared to the preceding year. Transaction values skyrocketed to Dh634 billion ($172.6 billion), with 166,400 deals in 2023, marking a remarkable 20% and 36% increase in value and volume, respectively.

"We anticipate that this progressive move will ignite a surge in interest in real estate investment opportunities across the UAE, propelling demand for residential and commercial properties. As a forward-thinking company, we are poised to adapt to these evolving market dynamics, offering tailored real estate solutions to meet the diverse needs of investors and residents alike," added Syed.

Investment inflows witnessed a remarkable 55% surge, with 42% of new investors originating from international markets, underscoring Dubai's global allure.

"The potential elimination of the minimum down payment requirement is in alignment with the UAE's vision of cultivating a business-friendly ecosystem and positioning itself as a leading global hub for investment and innovation. We eagerly anticipate the positive impact of this decision on the real estate sector and the broader economy," Syed emphasised.

Springfield Properties, boasting a team of over 140 seasoned real estate professionals, remains at the forefront of Dubai's real estate landscape and recently unveiled its cutting-edge headquarters.

Stay abreast of the latest market developments by visiting https://springfieldproperties.ae/ or following Springfield Properties on social media platforms.

About Springfield Properties

Springfield Properties, headquartered in Dubai, is a beacon of innovation and excellence in the real estate industry. With a team of over 140 dedicated realtors, we are committed to reshaping the real estate landscape with a forward-thinking, human-centric approach.

Our mission revolves around assisting value-driven investors, individuals, and businesses in achieving real estate success while upholding the highest standards of integrity and market expertise. We understand that every client is unique, and our goal is to provide tailored solutions that meet their specific needs.

As a dynamic force in the real estate industry, we seamlessly blend innovation and expertise to deliver exceptional results. We harness the power of real-time, data-driven insights while maintaining a deep understanding of the ever-evolving real estate landscape in the UAE.

At Springfield Properties, we have earned the trust of our clients through unmatched market insight and a commitment to excellence. Since our establishment in 2008, we have consistently demonstrated our ability to meet and exceed our clients' expectations.

Welcome to Springfield Properties, where forward-thinking converges with a human-centric approach, paving the way for financial success and a brighter future for all our valued clients.

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