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Rents big concern for expats: Survey

23.10.2014
Rents big concern for expats: Survey
HSBC’s Expat Explorer survey for 2014 found that as many as 44% of expatriates living and working in the Middle East said that fluctuations in rental prices pose a risk to their financial well-being. Nearly two-thirds of UAE-based expats see rent fluctuations as fundamentally affecting their financial well-being far more than their peers in the region and around the world, according to the findings of a global expat survey from HSBC.
According to The National, these concerns may be eased with news of rents falling in Dubai.
HSBC’s Expat Explorer survey for 2014, published on Wednesday, found that as many as 44% of expatriates living and working in the Middle East said that fluctuations in rental prices pose a risk to their financial well-being, compared with a global average of just 19%.
This trend is most pronounced in the UAE, with 58% of survey respondents saying that rental price fluctuations are a threat to their financial wealth.
“The United Arab Emirates emerges as one of the costlier expat destinations, with more than half saying that they would choose to leave because it is too expensive (60%) or for retirement (23%),” according to HSBC.
“With that in mind, it’s unsurprising that changes in rental price is perceived by expats to pose the biggest risk … to financial well-being and confidence over the next 12 months.”

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RENT
125,000 / year
Ref.No: OF1209
Office
1,655 ft2
76 AED/ft2
RENT
58,500 / year
Ref.No: OF662
Office
1,300 ft2
45 AED/ft2
SALE
6,800,000
Ref.No: AP1113
3BR Apt
3,003 ft2
2,264 AED/ft2
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Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management