Rents big concern for expats: Survey

HSBC’s Expat Explorer survey for 2014 found that as many as 44% of expatriates living and working in the Middle East said that fluctuations in rental prices pose a risk to their financial well-being. Nearly two-thirds of UAE-based expats see rent fluctuations as fundamentally affecting their financial well-being far more than their peers in the region and around the world, according to the findings of a global expat survey from HSBC.
According to The National, these concerns may be eased with news of rents falling in Dubai.
HSBC’s Expat Explorer survey for 2014, published on Wednesday, found that as many as 44% of expatriates living and working in the Middle East said that fluctuations in rental prices pose a risk to their financial well-being, compared with a global average of just 19%.
This trend is most pronounced in the UAE, with 58% of survey respondents saying that rental price fluctuations are a threat to their financial wealth.
“The United Arab Emirates emerges as one of the costlier expat destinations, with more than half saying that they would choose to leave because it is too expensive (60%) or for retirement (23%),” according to HSBC.
“With that in mind, it’s unsurprising that changes in rental price is perceived by expats to pose the biggest risk … to financial well-being and confidence over the next 12 months.”