Why is the price of renting a house in Dubai rising?

"One of the main reasons why the Dubai real estate market continues to be hot is that buying a house in Dubai is cheaper than renting a house." Mr. Li said. In recent years, the rent in Dubai has been rising, which makes many foreigners living in Dubai choose to buy a house.

After buying a house, their monthly loan amount is even less than the original monthly rent.

According to the information provided by China, Dubai, suppose a consumer bought a five-bedroom villa in Dubai for $700,000. He applied for 80% bank mortgage loan on 15, with an annual interest rate of 6%. So his monthly repayment is about $2,500, plus the monthly property management fee 165 and the municipal government tax 160, which is * * * 2,825. If the down payment is also a loan, he will have to pay an extra loan of about 700 dollars every month.

On the whole, this consumer spends about $3,405-3,525 on buying villas every month. In other words, consumers need to pay back $20.5-265,438+00,000 within five years. Assuming that the same five-bedroom villa is rented, according to the current rental market in Dubai, under the same conditions, the annual rent needs about 50,000 US dollars, and the monthly rent is 4 167 US dollars, so it needs 250,000 US dollars in five years. This has not taken into account the rising rent, and in recent years, the rent of most properties in Dubai has increased by more than 30%.

It is based on the actual situation that many foreigners who do not intend to settle in Dubai choose to buy a house in Dubai. In the case of rising rent, buying a house can not only save money, but also leave a good property for yourself.