Dubai Population’s Real Estate Sentiments Show by GRMC Survey

A consumer confidence survey was done on the Dubai residential real estate market by a leading research and business advisory in the GCC, GRMC Advisory Services. They have released the findings from their December 2009 survey. A report is generated, Dubai-Surplus Luxury which draws findings from their December survey of around 1100 individuals in Dubai. It determines the financial circumstances and whether they have left their homes at the time when financial crisis began.

This survey was also done in order to determine that how optimistic the respondents are regarding the economic prospects in Dubai and whether they are planning to invest in some new property in the year 2010. The results revealed that around 68 percent of Dubai’s population households have been unconstructively impacted by the financial crisis which took place.

A minority set has suffered a reduction in their income, 58 percent reported have said that their income remains the same; however, a mere 7 percent cited that it has augmented. The GRMC survey also enquired that how optimistic they regarding their financial circumstances and the results revealed are that majority of them are confident. This optimism has greatly shown the future of Dubai real estate industry. Among the survey conducted a 12 percent of people seems to be interested in purchasing or renting a new property in the year 2010, 83 percent of residents said that they would rather rent a property than purchasing a new one.