The limited stock of affordable options in Dubai has caused for the neighbouring emirates to act like satellite cities with around 1.1 million people who work in Dubai residing in another emirate (30 per cent of the active population), as they try to take advantage of the cheaper rates, according to a report.
Rates in other emirates such as Sharjah, Ras Al Khaimah, and Ajman are 30-40 per cent cheaper than the affordable options of Dubai, with accessibility to larger size units, said the report by Reidin.com, a leading real estate information company focusing on emerging markets.
A time series analysis of workers of Dubai who reside outside increased by 185 per cent (13 per cent to 37 per cent) from 2005 to 2009, coinciding with the tripling of rental rates alongside the limited affordable housing options in the freehold space.
