Analysts said on Sunday that the UAE's plan to grant expat homeowners multiple-entry visit visas enabling them to stay six months at a time if they own properties worth at least 1 million dirhams ($272,300) was unlikely to stimulate the market to any degree.
Property buyers had been waiting for legislation for years to clarify their residency rights in the second-largest Arab economy after many of the country's seven emirates allowed foreign investment in property in recent years.
But analysts said the government decree, issued on Saturday, needed more details on which properties would be eligible amid a real estate downturn that dragged Dubai property prices down 41 percent in the first quarter.
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