Poll: 62% of users negotiated a rent decrease in the last year

December 11, 2018 12:43 pm


dubizzle Property, the UAE’s biggest and most visited Property platform, reveals that over 62% of users successfully negotiated a rent decrease in the last year in the UAE.

In a poll conducted of over 1,400 on the dubizzle platform in November 2018, over 900 users said they were currently renting property in the UAE. For those renting properties, 18% said they negotiated a decrease of more than 15% of their annual rent in the last year, with 7% negotiating a 10-15% decrease, 18% negotiating a 5-10% decrease, and 19% negotiating a decrease of less than 5%.

Survey results also reveal that UAE residents utilize several tools to increase their bargaining power with their landlords, with over a third (37%) citing online platforms like dubizzle Property and the Dubai Land Department calculator as a means to compare similar property prices to negotiate a decrease. Similarly, 19% of respondents cited reducing the number of rental cheques as a tool for negotiation, while 14% said maintenance and chiller fees were put forward for negotiation.

“Our survey data underscores the importance of platforms like dubizzle Property which provides users with a transparent and real-time view of the property market across the UAE, empowering them to make more well-informed decisions. With the UAE real estate becoming more affordable, property-seekers and tenants have more bargaining power to ensure they are getting an accurate market price for their properties,” commented Samer Abdin, General Manager, dubizzle Property.

READ: SellAnyHome: 50% of buyers have a AED1 million budget

“When making the important decision about where to live, we encourage users to do their research to ensure they are getting a competitive rental agreement. As the UAE moves further in favor of tenants and, it is becoming a more competitive and attractive place to live,” added Abdin.

Of the over 1,400 users surveyed on the dubizzle Property platform, over half (53%) of those who are renting are currently in a 1-2-bedroom property, with 28% residing in a studio apartment, 15% in a 3-4 bedroom and just 3% in a 5+ bedroom property.

dubizzle Property regularly reveals market insights to support property seekers with making well-informed decisions.

READ: SellAnyHome.com sees 600% buyer growth: Apts go favorites

Total Sample Size: 1443 respondents

Rent vs Own

-Renters: 62% (905 out of 1443)

-Owners:  38% (538 out of 1443)

Renter Sample Size: 905

Renters:

-Studio: 261 (28%)

-1-2 bedroom: 479 (53%)

-3-4 bedroom: 138 (15%)

-5+ bedroom: 27 (3%)

Have you successfully negotiated a rent decrease this year?

-My rent remained the same: 346 (38%)

-Less than 5% decrease: 171 (19%)

-5-10% decrease: 163 (18%)

-10-15%: 65 (7%)

-More than 15%: 160 (18%)

What did you negotiate when renewing your contract? *

-Price (Based on comparing similar properties online & DLD Calculator): 339 (37%)

-Maintenance & Chiller Fees: 128 (14%)

-Number of Cheques: 173 (19%)

-No Response: 346 (38%)

*Respondents chose multiple options for this question, so results are not mutually exclusive answers.

Owner Sample Size: 538

Owners:

-Studio: 99 (18%)

-1-2 bedroom: 220 (41%)

-3-4 bedroom: 137 (25%)

-5+ bedroom: 82 (15%)

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AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.



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