A survey of around 300 Dubai residents by MoveSouq.com, a Dubai-based comparison site for moving and household service companies, found that two-thirds of respondents are planning to move to a new home in Dubai due to rent increases, with nearly half facing increases this year of more than 10%.

The data found that 36% of Dubai respondents said that they had experienced a rental increase of 1-10% this year, while 48% said the rental hike was more than 10%.

As a consequence, 65% said they were faced with having to move when their lease comes up for renewal. Of those who reported that their rent was rising more than 10%, three out of four said they were opting not to renew their lease and were moving to another cheaper location.

“The latest results of our survey are reflective of the overall price increases that Dubai residents faced during late 2013 and early 2014. It would be interesting to see how these trends change over time given the current stabilisation in housing prices. We will continue to run these surveys periodically and share the results with our partners,” said MoveSouq.com CEO Bana Shomali.