Apartments in Palm Jumeirah with a residency permit
Purchasing apartments for sale in Palm Jumeirah, UAE, is a unique opportunity for foreigners who want to diversify their investment portfolio or join the luxurious lifestyle of Dubai. The artificial archipelago is considered one of the world’s most popular attractions, so local real estate is in high demand among wealthy buyers and tenants.
A wide range of studios, 1- to 6-bedroom flats for sale in Palm Jumeirah and penthouses are located in the island district. You can find both ready-to-move apartments and flats for sale in Palm Jumeirah and off-plan properties here. Apartments in off-plan residential complexes attract buyers who want to buy a flat in Palm Jumeirah for less or earn money on resale in the short term, as their value increases by 20–30% upon completion of the project.
What makes flats in Palm Jumeirah one of the most attractive properties on the real estate market in the UAE:
- The proximity to the waterfront. Due to the unique structure of the island, almost all properties offer scenic ocean views, and many of them have direct access to the beach. Other advantages of the area include a quiet and peaceful environment away from the hustle and bustle of the city.
- Self-sufficient infrastructure. The area has kindergartens, hospitals, supermarkets, hotels, restaurants and other facilities for life, leisure and recreation. Residents can meet most of their needs without leaving the city.
- A high level of security. Safety is one of the island community's top priorities, which is why the Emirati Government has set strict standards for local residential and commercial properties. All buildings and complexes are equipped with advanced video surveillance systems, fire alarms, intercoms and round-the-clock security. Police officers patrol the area regularly ensuring the safety of residents and guests.
- Various tourist attractions. The most famous 5-star hotels, Michelin-starred restaurants and prestigious beach clubs are located here. The archipelago is also known for the Atlantis The Palm resort, which attracts families of tourists with an aquapark and the opportunity to swim with dolphins.
Residence permit in UAE by buying an apartment in Palm Jumeirah
Investing in apartments or villas in the UAE will allow foreigners to obtain a residence permit if they fulfil the conditions of the immigration programme. The cost of apartments in Palm Jumeirah must be at least AED 750,000 ($205,000). In this case, the buyer receives a 2-year resident permit in the UAE by buying an apartment in Palm Jumeirah. To apply for a 10-year permit, you need to invest at least AED 2 million ($545,000).
Dependent applicants who are eligible to obtain a residence permit together with an investor can act as:
- a spouse;
- unmarried daughters of any age;
- unmarried sons under 25.
Foreigners have the right to extend their residence permit in the UAE through a property investment. To do this, they must retain ownership of the housing purchased to participate in the programme.
Investment apartment in Palm Jumeirah
The reasons why foreigners choose apartments in Palm Jumeirah for investment:
- Rising apartment prices in Palm Jumeirah. The average cost per square metre in the Dubai housing sector reached AED 16,318 ($4,443) in Q2 2024. This indicator has broken all quarterly records of the last decade. Many experts believe that this trend will continue in the coming years. Therefore, an apartment for sale in Palm Jumeirah is an attractive option for investors seeking capital gains in the long term.
- High liquidity. The demand for premium and luxurious properties continues to increase throughout the city, and the island community is no exception. This is evidenced by the rapidly growing number of transactions: 79,767 deals were made in the Dubai housing sector in the first half of 2024, which is 30.4% more than in the same period last year. The total value of the properties sold reached AED 232.6 billion ($63.33 billion), which is 29.7% higher than the previous figures.
- A high rental income. The man-made archipelago is one of the most profitable places to earn money on rent. The average return on investment in the studios located on its territory reaches 20% per annum, which allows the owners to return their money in 5 years. The payback rate for 1-bedroom flats is 14.02% and for 2, 3, and 4-bedroom homes – 10.54%, 16.04% and 6.57%, respectively.