DSL Exhibitions, organisers of the Resale & Rental Property Show, have launched a cost of living survey for Dubai to gauge the impact of inflation on the property market as well as on the quality of life of Dubai residents.

“There is growing concern in the trade that rising prices across the shopping index are curtailing the property purchasing power of those who live and work in the city,” said Tessa Morris, marketing director at DSL Exhibitions. “We decided to conduct this survey in order to understand the changes in costs of living that Dubai has witnessed over the last three years,” she said.

An extensive exercise, the survey will gather opinion from residents who have lived in Dubai for the last three years or more, and measure how costs of living have changed during this period.

Touching upon areas such as income vs expenses, cost of property and inclination to buy, impact of change in costs of living and Dubai as a destination to live and work, the opinion survey will gather responses from 500 people.

“Although occupancy levels for both commercial and residential property are high, there is a significant portion of the population that does not have real estate options to choose from,” said Tessa. “This, we believe, is because the costs of basic living in the city have shot up so much that most residents’ savings have dropped significantly, making it difficult for them to buy here. But in absence of hard data, we cannot say for sure – hence this survey.”

Numerous projects are under development, and as per market estimates and based on corporate data, at least Dh8 billion to Dh10 billion worth of real estate is expected to enter the market every year for the next four to five years. As per available data, maximum additions in terms of value are expected up to 2008. “If costs of living continue to soar at the present levels, all this additional real estate might find fewer takers, a real cause of concern for the industry,” said Tessa.

Extending its offerings this year, the R&R Show, on September 7 and 8 at the Crowne Plaza Hotel, Dubai, will be adding the Dubai Lifestyle Solutions to the exhibition – a complimentary event that offers suppliers of lifestyle products and services an opportunity to interact with visitors who are ready to buy.

In addition, the show will once again host the Property Finance Seminar & Exhibition – now a regular feature of the show – that brings in the property finance experts, offering free workshops and advice to visitors. – TradeArabia News Service