Apartment in Jumeirah Village Circle with a residency permit
Any foreign national has the right to buy an apartment in Jumeirah Village Circle and get a residence permit. This is a well-known freehold zone in Dubai offering both move-in ready properties and flats for sale in Jumeirah Village Circle in off-plan buildings. The latter attract buyers with more affordable apartment prices in Jumeirah Village Circle (JVC) and guaranteed capital gains at the end of the project.
The community is strategically located in the heart of the city. Local housing is extremely popular with families with children with more than 30 landscaped parks, international schools, kindergartens, hospitals and supermarkets nearby. Its convenient location provides residents with easy access to two international airports, key financial centres and major highways allowing quick access to any part of the city.
Residence permit in UAE by buying an apartment in Jumeirah Village Circle
Foreigners can buy a flat in Jumeirah Village Circle and get the right to obtain an Emirati residence permit. The amount of money determines the validity period of the document:
- from AED 750,000 ($205,000) — 2 years;
- from AED 2 million ($545,000) — 10 years.
When a spouse, unmarried children and staff are included in the application for a 2-year residence permit in the UAE by buying an apartment in Jumeirah Village Circle, the minimum investment threshold is increased to AED 1 million ($273,000). Moreover, applicants for this type of residence permit can only purchase move-in ready apartments and flats for sale in Jumeirah Village Circle.
When issuing a 10-year resident card for dependent applicants, the amount of investments does not change. An additional advantage of such a permit is the opportunity to invest in a property in the UAE, which is still under construction.
Foreign buyers who participate in the immigration programme can pay the cost of apartments in Jumeirah Village Circle in instalments by forming an interest-free plan. The amount of the first payment must be at least half of the price of the overseas property.
Investment apartment in Jumeirah Village Circle
The apartments in Jumeirah Village Circle for investment are so appealing, as they offer developed infrastructure, strategic location and a well-established transport system with easy access to other areas. Why you should choose an investment apartment in Jumeirah Village Circle:
- A wide range of housing. A buyer with any preferences, investment goals and budget will be able to find a suitable option in this area. There are studios, apartments for sale in Jumeirah Village Circle (JVC) and penthouses with a variety of layouts and interior designs. Almost every complex has an internal infrastructure with a swimming pool, a well-equipped gym and a parking area. Elite and premium projects also include exclusive amenities such as co-working, cigar lounge and spa.
- Rising prices. The community offers the best value for money. The cost of an apartment for sale in Jumeirah Village Circle remains affordable in comparison with other emirate’s prestigious part, but it is increasing. This makes housing in demand among investors interested in making a profit from resale.
- High sales volume. Since the beginning of 2024, 10,878 transactions have been made in the community housing market making it the leader in sales in the emirate. Buyers are attracted by affordable prices demonstrating steady growth, and high rental yields.
- High rental income. The owners of flats in Jumeirah Village Circle can return their money in less than 10 years by running a rental business. The average ROI in local studios reaches 13.39% per annum, and for 1-bedroom housing units it’s 16.4%. Properties with 2, 3, and 4 bedrooms can bring 7.41%, 7.76% and 5.41% respectively.
- High rental demand. As rents in the emirate go up and the population of the area grows, the demand for rental properties is on the rise. Since the beginning of 2024, 14,741 transactions have been registered in this sector. This makes JVC one of the most active rental communities in Dubai and a sought-after location among investors.
FAQ
Receiving a residence permit in the UAE through a property investment includes the following steps:
- purchasing real estate that meets the criteria of the immigration programme;
- undergoing a medical examination at an accredited Emirati clinic;
- submitting biometric data;
- submitting a list of documents, including a filled-out application form, a certificate of ownership and an identity card, to the immigration service.