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Sunday, November 22 - 2009

Housing poll reveals 51% priced out of property market and looking to move

  • United Arab Emirates: Sunday, August 17 - 2008 at 11:26
  • PRESS RELEASE

propertyfinder.ae, the UAE's most popular real-estate website, has concluded a three month online survey revealing that more than 51 percent of the 619 respondents feel priced out of the property market and unable to buy in the UAE.

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Despite recent rental increases, the results indicate that renting remains the most viable option for those looking to live in the UAE.

Of those polled almost 40% spend less than 20% of their monthly income on rent, while only 8% spend more than half of their monthly salary on accommodation. In addition, close to 70% of those taking part in the survey said their maintenance costs were included in their rental fees.

"The propertyfinder.ae poll has revealed some interesting and contradictory statistics from the end user participants. While 35% of those polled claim to be satisfied with their accommodation, more than half (56%) will be looking to move in the next six months. This could be due to the anticipated rental increases coming into effect in January,"


said Michael Lahyani, CEO of propertyfinder.ae.

"There is a noticeable lack of fundamental information regarding issues affecting end users' decision making. We hope to address this with a series of market relevant surveys throughout the year which will help to build up valuable industry insights," added Lahyani.

The first in a series of surveys to be conducted by the leading real estate portal, UAE residents were polled on a variety of housing related topics ranging from satisfaction levels and to percentage of salary spent on accommodation. To see the full survey results visit: www.propertyfinder.ae.
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Notes and media contacts

About propertyfinder.ae
propertyfinder.ae specialises in real estate and investment in Dubai and offers agents and developers access to a potential global audience of nine million unique visitors.

propertyfinder.ae is a subsidiary of REA Group and forms part of the global online real estate advertising company

For more information please contact:
propertyfinder.ae,
Linsey Worgan,
Tel: +971 4 3311104

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