YouGov: 34% Dubai residents okay 5% rent increase for 12 payments
Survey shows 45% of Dubai residents have been restricted to making fewer cheque payments, and are calling for change
Dubai residents are calling for an overhaul of the rental market, citing concerns related to fewer cheque payments, inaccurate listings, and lack of coordinated timings with agents as prime grievances, according to a YouGov survey that was commissioned by the team behind Cafu, the region’s first on-demand fuel delivery service.
According to the survey, Dubai residents have pointed to a fragmented and inconsistent rental experience with two-thirds or 66% of the respondents claiming that their rental property did not match their expectations.
In addition, 45% of Dubai residents said that the area surrounding their rental premises was not up to par, while 25% of them struggled to communicate with their agent.
The survey also showed that 45% of Dubai residents have been restricted to making fewer cheque payments.
Calling for change, 45% of survey respondents claimed that would prefer the ability to pay their annual rents in more instalments, with more than a third of Dubai residents – 34% – stating that they would pay or consider paying up to 5% more on their annual rent, in order to be able to make 12 payments per year.
Furthermore, 30% of Dubai’s residents requested more payment options, including direct debits and credit cards.
This goes to show that the rental market is still lagging in the adoption of technology, with 91% of Dubai’s residents still paying their rents through cheque or cash.
Commenting on the findings, founder and chief executive officer of Cafu, Rashid Al Ghurair, said “Dubai’s renters have suffered for far too long, with the lack of price transparency, the financial burden of one or two cheques, and mismatches between pictures and the property advertised. Renters are crying out for change. It’s about time that a regional player came along and disrupted the market, and we fully intend to do so.”
Al Ghurair added: “Technology is an enabler and we can’t ignore how it can bring positive change to Dubai’s real estate market. We are developing a tech solution that is built on tenant-centric values to empower residents at every stage of the rental journey and help landlords find and retain the right tenants quicker. We are incredibly excited about this and strongly believe it will revolutionise Dubai’s rental market.”