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06.01.2015
Research made by ValuStrat Consulting reveals that in some Dubai locations it is now cheaper to pay a monthly mortgage then rent.
A new research report has found that it is now cheaper to pay a monthly mortgage in some parts of Dubai than rent, Zawya reported. ValuStrat Consulting Director and Group Head Declan King points out that a stabilisation in residential sales prices during the 2nd half of 2014, coupled with continued increases in rental rates during the same period has brought about a scenario where it is now cheaper to pay a mortgage then equivalent rent. He acknowledges that home ownership comes with added responsibilities, additional costs and less flexibility than renting, but suggests the research indicates that for some tenants the numbers may now justify their considering becoming owner occupiers instead of tenants.
A new research report has found that it is now cheaper to pay a monthly mortgage in some parts of Dubai than rent, Zawya reported. ValuStrat Consulting Director and Group Head Declan King points out that a stabilisation in residential sales prices during the 2nd half of 2014, coupled with continued increases in rental rates during the same period has brought about a scenario where it is now cheaper to pay a mortgage then equivalent rent. He acknowledges that home ownership comes with added responsibilities, additional costs and less flexibility than renting, but suggests the research indicates that for some tenants the numbers may now justify their considering becoming owner occupiers instead of tenants.
