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Dubai: If push comes to shove, Dubai’s residents are only too willing to move. Getting hit with sharp increases in rental demands is forcing many to consider making the shift to a new residence.
A survey conducted by MoveSouq.com, a comparison site for moving and household service companies, found that 65 per cent of respondents planned on a move upon their next lease renewal. And, not surprisingly, those keen to do so increased among those tenants hit by strident demands from landlords for even higher hikes. (The poll was conducted between October 1 to 26.)
Within this category, 75 per cent of the respondents who faced more than a 10 per cent increase year-on-year are planning to move, the survey finds. Of those hit with a hike of between 6-10 per cent, 62 per cent said they were amenable to a move.
“The latest results of our survey are reflective of the overall price increases that Dubai residents faced during late 2013 and early 2014,” said Bana Shomali, CEO. “It would be interesting to see how these trends change over time given the current stabilisation in housing prices.”
The analysis was based on an online survey of 300 Dubai residents regarding their rent costs this year. During the period, 36 per cent said that they had experienced an increase between 1-10 per cent in their rent expenses, and 48 per cent said they faced one of more than 10 per cent.
Source: Staff Report, gulfnews.com