Expat Uae News

Latest 10 news items tagged Uae

7 Nov at 6 PM 2018

Dubai property market slumps further

Cheaper Dubai rents and property prices are due by the end of this year. The fall in Dubai real estate prices and rental charges is now expected to crash still further by late December. Real estate agents in the emirate are predicting a five per cent drop in both sectors as a result of a 20 per cent fall in the number of homes changing hands. However, property firms are attempting to talk up the market whilst counting the cost of a slump in commissions earned. The size of the percentage-based slump in interest as well as in prices...
6 Nov at 6 PM 2018

London property still hot for Middle East expat investors

The Brexit-hit pound sterling is providing a once-in-a lifetime opportunity to Middle East investors wishing to purchase UK property. Investors in Dubai and the rest of the emirates are piling their money into British buy-to-let properties, forcing house prices up whilst taking full advantage of the shrinking pound and low mortgage interest rates. Worse still, many are waiting in eager anticipation of a possible no-deal Brexit’s further negative effect on the sterling exchange rate. One Dubai-resident landlord already has a £14...
1 Nov at 6 PM 2018

UAE expats warm towards property ownership

Expats now resident in the UAE are beginning to like the idea of property ownership. A report from the online real estate portal Property Finder revealed the result of a recent survey, with 50 per cent of respondents who’d purchased homes over the previous six months now believing owning is better than renting. A further 33 per cent said now seemed to be a good time to buy. Those who’d purchased homes did so for financial reasons, as they were planning to stay in the UAE for at least three years or more and didn’t want to pay...
29 Oct at 6 PM 2018

New UAE visa reforms help ensure expat kids education

New visa reforms and promotion of youth employment are aimed at popularising the UAE as an education destination. The UAE’s efforts to position itself as an international hub for education should please long-term expatriate professionals hoping to keep their kids with them throughout their education. The new measures are intended to promote the emirates as an education destination for international students as well as providing high quality learning for local youth. Since last month, grade 12 students dependent on their parents as...
25 Oct at 6 PM 2018

Emiratization call as expats now 91 per cent of workforce

At the recent Abu Dhabi GOV HR summit, the focus was on the total imbalance between nationals and expats in the workforce. Job losses and poor economic growth across the UAE are causing lawmakers concern about the progress of emiratization. Based on the findings via surveys carried out by various UAE agencies, experts pointed out that the GCC workforce is made up of 75 per cent expats and 25 per cent nationals, whereas the UAE’s workforce is now 91 per cent foreign. The situation is projected to worsen until only three per cent of...
19 Oct at 6 PM 2018

UAE expat wives now allowed one year post-divorce visa

UAE-based expatriate husbands subject to divorce proceedings can no longer use their sponsorship powers to threaten their wives. Expatriate wives sponsored by their husbands need no longer fear having to leave the country at short notice when divorce proceedings are under way. A new UAE law aims to protect divorcees, widows and their children by guaranteeing them at least a year’s visa extension. UAE lawyers are happy to report that husbands holding visa control over their wives will now no longer have the power to wreck their lives...
3 Oct at 6 PM 2018

Half UAE total wealth owned by just one per cent of residents

As the super-rich in the UAE get even wealthier, a report has revealed they control over half the emirates’ total wealth. It’s well-known that the UAE acts as a magnet for multi-millionaires, with a recent report admitting that just one per cent of the entire population owns 51 per cent of the combined wealth of the emirates. The lucky few, known as High Net Worth Individuals, are the US dollar millionaires with investments, bank deposits, cash, properties and other tangible assets worth at least one million and usually far more....
1 Oct at 6 PM 2018

Expats urged to invest in mid-range UAE property

Is now the time for expats to invest in mid-range UAE property? As the swing in UAE property prices nears its lowest point since 2014, financial gurus are recommending mid-range property purchases below a bench mark of DH1.5 million as the way to go for expat investors. Purchasers planning a buy-to-let investment are expected to gross between seven and nine per cent in some areas and , taking into account interest payments, upkeep and service charges, should still make good profits on studios and apartments with one to three bedrooms....
26 Sep at 6 PM 2018

Is reality dawning about the UAE expat retirement visa?

Is the new UAE retirement visa really an opportunity for older expats, or is it simply smoke and mirrors? In the weeks since the surprise announcement that the UAE is to offer 5-year retirement visas to qualifying expats, reactions from within the expatriate community have veered from positive through maybe to uncertainty about what happens after the five years are up. A new take on the offer asks whether the new law really does breach the gap between reality and fantasy, taking into account the fact that many expats spend almost all...
25 Sep at 6 PM 2018

High UK property prices may encourage expat takeup of Dubai retirement visa

Soaring UK property prices may persuade expats to stay in Dubai after retirement. The problems of replicating a Dubai lifestyle as regards suitable properties in the UK may well encourage British expat professionals close to retirement to stay in the UAE. Expats coming up for retirement are now becoming aware the high costs of luxury housing in the UK may cause financial difficulties as regards relocating to the home country. Downsizing after years in the hothouse atmosphere of Dubai and the other emirates may not be an acceptable...