About 20,000 residents of Abu Dhabi and neighboring Emirates still live in Dubai due to cheaper high-end rental options.
Dubai, U.A.E. – 14 Dec, 2010 – A major dip in rents has prompted many tenants across the UAE to switch homes, with several opting furnished residential rentals in Dubai at prime locations, said a survey report. They may be working in Abu Dhabi or any other emirate of the UAE, but approximately 20,000 residents prefer to commute from Dubai daily, simply because they can find cheaper high end ‘quality’ rental options in Dubai in comparison to the capital city.
According to the property experts, locals from neighboring emirates are shifting to Dubai because of the Dubai’s current affordable housing. Due to the downward spiral in rentals in Dubai many locals and huge masses across the globe are attracted to rent houses in Dubai. According to research, Dubai is better-placed when it comes to availability of residential and commercial rentals, followed by Abu Dhabi and Sharjah. Besides, Dubai is seen to have better value for money, surpassing Abu Dhabi and Sharjah, respectively. Hence, we see that the migration is geared towards Dubai, particularly from Sharjah and Abu Dhabi. Also, there has been seen tremendous rent drop in the hotspots of Dubai like Dubai Marina, Jumeirah Lake Towers, Midriff, etc which is ultimately beneficial to the renters. It allows masses to have better standard of living at absolutely attractive rental rates.
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