Rent hikes driven by Dubai’s real estate market boom are prompting residents to downsize, relocate to more affordable areas, or buy property, experts say
Rent price increases are pushing Dubai residents to buy as monthly rent payments “match” mortgage costs, experts told Arabian Business.
Real estate agencies are also beginning to see more tenants move out of Dubai, downsize, or move to cheaper areas due to the rent price hikes, especially if they were hit with an increase over consecutive years. While rents are expected to increase by 20 percent in Dubai this year, the property market has already seen rents in some areas surge by as much as 66 percent.
