Rental hikes forcing tenants: Study

06.11.2014
A survey conducted by MoveSouq.com, a comparison site for moving and household service companies, found that 65% of respondents planned on a move upon their next lease renewal. When it comes down to it, Dubai's residents are looking to move when faced with sharp hikes in rent, Gulf News reported.
A survey conducted by MoveSouq.com, a comparison site for moving and household service companies, found that 65% 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 % of the respondents who faced more than a 10% increase year-on-year are planning to move, the survey finds. Of those hit with a hike of between 6-10 per cent, 62% 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.”

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