Rentals remain stuck on a high

26.03.2015
There is a substantial demand for family-friendly two- and three-bedroom apartments in Dubai.

At AED80,000, families are hard-pressed to find even a two-bedroom apartment in Dubai and the affordable housing shortage has become a real problem in the city, a Gulf News article reported.

“It has become extremely challenging for “single-income families” with one or two children” and in certain occupations such as teaching or nursing to come upon an “affordable” two-bedroom apartment in Dubai, according to analysis by ValuStrat Consulting, an advisory firm.

The best that someone in a secretarial position or a nurse can hope to rent is a studio, while an accountant or a school teacher will have to make do with a one-bedroom apartment.

“There is a substantial demand for family-friendly two- and three-bedroom apartments in Dubai for decades to come, creating opportunities for intuitional investments, REITs [real estate investment trusts], housing associations as well as employers to invest in affordable rental stock.”

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