- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Dubai: Of the 19,500 units released in the year to date, only 22 per cent can be afforded by UAE’s mid-income residents, defined as those earning between Dh10,000 and Dh30,000 a month.
Among the projects that were within reach of this category include Town Square by Nshama, Glitz 3 by Danube, MAG 5 by MAG and Remram (phase 2) by Dubai Properties Group, according to a report by JLL.
As per JLL estimates, 39 per cent of UAE’s households fall in the category, earning between Dh10,000-Dh30,000 a month. This resident base can, JLL reckons, optimally set aisde up to Dh72,000 annually on rent or afford a home in the range of Dh790,000.
These are based on estimates that a household should not spend no more than 30 per cent of its gross household income on housing.
Source: Staff Report, gulfnews.com