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The survey also reveals that of the 84% of respondents who plan to buy property in Dubai, almost half plan to live in the property, demonstrating a long term commitment to the UAE. Of the 60% of the respondents who said they were planning to buy in the UAE, 39% of these said they would buy off plan as it was a cheaper option - seven out of ten respondents (70%) were of the opinion that property prices were too high in the region.
Rob Jones, Editorial Director, AME Info said:
"The AME Info Buying Property in the UAE survey, part of a wider report on property in the region, found that Dubai is still the Emirate of choice for many buyers. But as prices skyrocket, it is having a ripple effect that is reaching other Emirates.
"Overall the survey shows there is a thirst to buy in the UAE - many people see it as a good investment and want to get in before prices go higher to escape the annual cycle of rental increases."
Highlighting that people want to own their own place in the UAE, but were becoming increasingly inhibited by rising costs, the survey found that many were looking at alternative locations to satisfy their property owning desires. Whilst Dubai was, unsurprisingly, the most popular destination, Sharjah (14.6%) and Ajman (11.4%) were rising stars.
The latter two benefit from the fact that many workers brave daily traffic jams to Dubai because they can get a lot more for their money in these two emirates. Ras Al Khaimah, despite heavily promoting itself over recent months, scored low as a destination of choice.
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Posted by Medilyn Manibo, Assistant News Editor
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