Monday, 8 June 2015

Dubai expats relocate despite slow rent growth

Nearly two-thirds of expats in Dubai plan to move when their next lease-renewal dates roll around, despite the slow-down in rental growth in the first quarter of 2015.

82% of respondents to a survey of 200 Dubai residents by said that their landlords hiked up their rents when their leases were last renewed.

However, the rate of increase has slowed to less than 10% from more than 15% in late 2014, according to Bana Shomali, managing partner and head of operations at Mr Shomali said that this “indicates that the rental market has stabilised in recent months.”