Tuesday, August 29, 2006

Consumer survey reveals cautious optimism among property owners in Dubai

A recent consumer survey commissioned by DSL Exhibitions, organizers of the upcoming Resale and Rental Property Show (The R&R Show) in Dubai highlight cautious optimism among both property owners and renters.

“The business survey we recently conducted with executives working in Dubai’s real estate sector received excellent response, both from the industry as well as the media,” said Tessa Morris, Marketing Director, DSL Exhibitions. The poll, conducted by a research division of Communicraft, generated results from 412 residents who have lived in Dubai for at least 3 years.

The majority of respondents, a whopping 92% opined that rents in Dubai are too high. But around 32% said they were ‘sure’ rentals would reduce in the next 3 years, while 42% revealed they were ‘cautiously optimistic’ of rents subsiding to lower levels. Also the study found out that the secondary property market is bound to have a definite impact on the real estate prices. DSL Exhibitions has many brands under which the company organizes its shows to keep up with the complexities of an ever-changing property market. The exhibitions attract leading international developers, agents, lenders, mortgage brokers, lawyers and investment consultants.

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