Almost half the people looking for homes in the United Arab Emirates prefer buying a property to renting one, reveals a recent survey.
The survey by Dubai-based online property platforms Bayut and Dubizzle is based on more than 2,000 responses where people compared their rents and mortgage payments.
Around 45 per cent of renters said they considered buying homes. However, this number did not translate into readiness to complete a home purchase.
Only 18 per cent of these renters actively looked at purchasing a home and another 26 per cent said they would buy a home once they have enough savings for a downpayment.
The survey points out that prospective buyers considered affordability and initial expenses while exploring home ownership.
Of the renters who actively considered buying a home, 52 per cent said they want to settle down in the UAE.
"Property journeys do not always fit into fixed categories. A renter today may already be planning to buy, while another may want to take that step but needs a clearer and more achievable path to ownership. What stands out is how closely this interest is linked to people building a longer-term life in the UAE," said Fibha Ahmed, VP of Property Sales at Bayut and Dubizzle.
"This creates an important role for platforms and agents to make the journey easier to understand through transparent pricing, trusted market context and practical guidance around the true cost of buying a home,” she added.
