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35% Sharjah residents plan to move to Dubai

Discussion in 'Dubai property' started by Wannaberich, Jul 14, 2010.

  1. Wannaberich

    Wannaberich New Member

    35% Sharjah residents plan to move to Dubai
    Migration is geared towards Dubai, more so from Sharjah than Abu Dhabi, according to a survey.
    By Parag DeulgaonkarPublished Tuesday, July 13, 2010
    About 35 per cent of Sharjah residents plan to move to Dubai in the next 12 months while 47 per cent of the property owners have a positive outlook for the sector in 2011, a YouGov Siraj Omnibus survey says.

    Migration is geared towards Dubai, more so from Sharjah than Abu Dhabi. Out of those who now live in Dubai, 18 per cent used to live in Sharjah. Thirty-five per cent of Sharjah residents plan to move to Dubai in the next 12 months, while only 16 per cent of Abu Dhabi residents aim to move their accommodation to Dubai.

    Thirty five per cent of UAE residents feel the real estate outlook will improve in 2011 compared to 32 per cent who felt it will deteriorate and 21 per cent who believed the market will remain the same.

    As “cautious optimism” emerges and environment remains uneasy, UAE residents are taking advantage of rent dips to upgrade their accommodation. Forty per cent of those who now live in a two-bedroom property were earlier living in a one-bedroom apartment in the previous year while 46 per cent of those who lived in a two-bedroom units have shifted to three-bedroom apartments.

    The findings are from YouGov Siraj Omnibus survey conducted between June 15 and June 22. It was conducted online using YouGov Siraj’s UAE Omnibus & covered a sample of 770 adults, aged over 18.

    YouGov Siraj Research Director, Himanshu Narang, said: “In a still uncertain environment, developers can gain valuable insight into the mindset of the UAE resident – how they’ve adapted, what they expect and what they plan to do.”

    Although Dubai seems to be better placed on availability of residential and commercial units followed by Sharjah and Abu Dhabi; Sharjah offers better “value for money” outperforming Dubai and Abu Dhabi, respectively.

    According to Colliers International, more than 40,000 residential units will enter the market by end of 2010 in Dubai, while some other experts predict supply to go up by 20,000 units by year-end. The increase in supply has already led to decline in rents by between 20 and 40 per cent in the last one year across the emirate.

    Although 47 per cent of property owners have a positive outlook on 2011 real estate, only 35 per cent of renters believe so. However, most of the owners are undecided about their next step and prefer to adopt a “wait and see” mindset.

    Sixty per cent of those who live in their owned residence will hold on to their unit and 30 per cent are uncertain of their decision. While there may be optimism about a real estate improvement, 71 per cent are unwilling to buy in the UAE in the coming three to six months. The survey found that more than half are likely to buy in their country of origin, particularly Asians.

    35% Sharjah residents plan to move to Dubai - Emirates Business 24|7
     
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