The minimum financial requirement to apply for a three-year visa through investment in Dubai’s booming residential property market has been reduced to Dh750,000 from Dh1 million, according to information available on the Dubai Land Department’s website.

The visa facility, available through DLD’s Taskeen Programme, allows an individual who owns a property valued at Dh750,000 or more at the time of purchase to apply for a three-year renewable residency visa with a provision for sponsoring the spouse.