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Yes, you can live in Dubai by purchasing a property, but there are some important considerations and conditions to keep in mind. When you buy a property in Dubai you may be eligible for a residence visa, but it is important to note that this does not grant permanent residency.
As per the UAE investor visa program, the property you purchase must be fully completed and its value should be at least AED 1 million. By fulfilling this criteria you and your family member can apply for residence permit, allowing you to legally reside in Dubai.