Almost seventy-five per-cent of Dubai homeowners are planning to relocate and rent apartment in Dubai as a consequence of rent hikes, based upon a study published today. The final results of the survey, demonstrated that as many as 84 per cent claimed lease rise during 2014. It reported almost thirty-six per-cent of emirate’s respondents had an increase between 1 to 10 percent within rent bills, and 48 per-cent of emirate’s residents faced a rent rise of more than 10 per cent. Additionally, the review demonstrated that sixty-five per cent of all respondents want to move to a new home upon their upcoming lease renewal. As could well be anticipated, the proportion was raised among those groupings who've got faced a better percentage of rent increase, wherein 75 per cent of the respondents who faced over a 10 % increase in rent are intending to move.
MoveSouq.com boss Bana Shomali mentioned: "the new results of our survey are indicative of the rates increases in rent apartment in Dubai sectors that Dubai occupants faced during late 2013 and early 2014. It will be intriguing seeing exactly how these developments change over time considering the existing stabilization in housing prices." The findings of the study are in line with the outcomes of a recent vote executed about the emirate’s rental sector earlier this week. Based on to the vote, about 53 % of participants claimed that their 'rental prices were raising'. "My rent has shot up by five percent. I am okay with it and think about myself lucky as my landowner implemented the requirement set by the Dubai authorities," said Serena S. With respect to Reidin figures, housing costs to rent apartment in Dubai boosted by 0.8 points every month, from 103.7 or 104.5, addressing a boost of 0.78 per-cent in Sep 2014. On the contrary, hire costs improved 19.8 percent yearly. Flat lease in Dubai elevated 0.93 per cent monthly and 22.5 per cent per annum, Reidin reported in its Sep update. Villa leases also documented a rise in Sep 2014, escalating 0.02 percent each month and elevated 7.9 per cent per annum.
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October 2019
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