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Expats settling in for the long haul

Figures gathered by finance comparison site compareit4me.com indicate that more expats are looking to stay in the UAE, for the long-term.

Speculation that the UAE’s expat bubble was about to burst came after last year’s survey revealed that 54 per cent of UAE residents “wouldn’t consider buying property in the UAE, as they weren’t sure how long they were going to stay”.

This year’s survey, however, shows a U-turn in thinking with just 36 per cent of expats saying that they would consider buying in the UAE.

Jon Richards, chief executive officer at compareit4me.com, said, “In March last year all the major newspapers were reporting that more than half of expats in the UAE were considering leaving due to the high cost of living.

“Just one year later, we are happy to announce that the number of people who are interested in buying property is on the rise. It seems attitudes are changing and fears and insecurities about the future are lifting.”

Figures are significant for the spa and beauty industry as expats make up a large proportion of the market.