Property in Saadiyat Island with residence permit
Investing in properties in Saadiyat Island, UAE, attracts international buyers due to its excellent infrastructure, high quality of life, and the possibility of obtaining a residence permit. This world-class resort, located just 20 minutes from Abu Dhabi International Airport, has become the center of cultural life in the capital. The famous Louvre Abu Dhabi Museum, Manarat Al Saadiyat Gallery, and other art spaces are located here. The active development of tourism on the island contributes to a stable demand for rentals.
The island offers a wide range of accommodation suitable for different purposes and budgets:
- Apartments are modern flats with 1 or more bedrooms in high-rise complexes. The territory of such buildings usually includes fitness rooms, children's play areas, swimming pools, and other amenities. Apartments in the UAE are available in various options, including studios and lofts.
- Penthouses and duplexes are exclusive units on the top floors, with spacious terraces and panoramic views. They often have outdoor seating areas, private swimming pools, Jacuzzis, lifts, etc.
- Townhouses are 2- and 3-story cottages with common walls with neighbors. Each townhouse usually has its own small courtyard, which can be used for recreation or gardening.
- Villas are spacious private homes with their own plots of land. Houses range in size and luxury from small and cozy to luxury villas with several bedrooms, swimming pools, and large gardens. Villas in the UAE are often located in gated, secure complexes.
Please note that foreigners can purchase real estate for sale in Saadiyat Island with full and perpetual freehold ownership.
Residence permit in UAE by buying property in Saadiyat Island
Investing in local property opens the door for foreign investors to obtain a UAE residence permit, which offers many privileges. These include long-term residency, access to high-quality services, tax benefits, and a favorable business climate.
It's important to clarify that the UAE does not use the term "residence permit" in the conventional sense. Instead, investors are granted long-term resident visas. The Golden Visa, valid for 5 years, is available to investors who buy property worth AED 2 million ($544,500) or more.
Mortgage or interest-free installment purchase is permitted if the down payment is equal to the threshold amount or at least 50% of the value. To extend the visa, it is necessary to retain ownership of the property, allowing the owner to rent out the object and earn additional income.
Investment real estate in Saadiyat Island
As infrastructure improves and job opportunities increase, property for sale in Saadiyat Island is becoming more in demand for both short-term rentals and long-term residencies. The high level of interest from tenants, especially in tourist areas, has contributed to a steady increase in yields. Today, the average rental yield on the island reaches 4.66% per annum. The average rate for 1-bedroom flats in H1 2024 increased by 20.2% compared to the end of 2023.
The housing market is showing strong price growth. In Q1 2024, the cost of residences in Abu Dhabi increased by an average of 7%. The area is consistently among the capital's most popular locations for buying luxury apartments and villas. These trends indicate the high potential of properties on Saadiyat Island for investment. Its value varies within a fairly wide range:
- Prices for 45 m² studios in a modern complex start from AED 610,000 ($166,000). 1-bedroom units of bigger size start from AED 900,000 ($245,000), of average size around AED 2 million ($544,500). Penthouse prices range from AED 18 million ($4.9 million) and up.
- A 4-bedroom villa with sea views will cost from AED 6 million ($1.6 million), a townhouse from AED 3 million ($817,000). Luxury homes can reach prices in the tens of millions of dollars.
One key factor attracting investors to the Emirates is the absence of taxes on income, capital gains, inheritance, immovable property, and gifts. Corporate tax is only 9%, which is favorable compared to most countries worldwide.
If you are considering buying real estate in Saadiyat Island, Citizenship-By.Investments will provide you with comprehensive support. We can help you choose the right flat or house, secure the transaction, and offer expert advice. Contact us using the feedback form. Experienced experts are always ready to answer your questions and help you make the right choice.
Yes, foreign nationals are allowed to buy fully owned homes in the Emirates in designated areas known as freehold zones, and the neighborhood is one of them. In these zones, buyers from abroad can own homes without restriction and freely dispose of them: inherit, rent, or sell. For those not planning a full purchase, a long-term lease format, called leasehold, is available.
To obtain a residence permit in the UAE through property investment for 5 years, you need to purchase a property worth AED 2 million ($544,500) or more.
The minimum property price in Saadiyat Island for a UAE residence permit is AED 2 million ($544,500).
Apartments and villas located on the coast are in high demand from tenants and buyers, making them ideal investments. The Saadiyat Cultural District, with its existing and projected museums, is also popular.