Nearly 50% residents in the region intend to move houses in next 12 months due to pandemic

Nearly 50% residents in the region intend to move houses in next 12 months due to pandemic

Up to 47 per cent of those residing in the Middle East region intend to move houses in the next 12 months primarily due to the Covid-19 pandemic, an online survey has revealed.

Close to 21 per cent of the respondents have indicated that they would be relocating in the next twelve months to save money, while 15 per cent would move to downsize their space and save on rent, according to the results of real estate advisor Savills' regional Lockdown Living Survey conducted to gauge sentiments of individuals towards residential units pre and post lockdown.

Close to 68 per cent of respondents currently privately rent unfurnished accommodations in the region.

Respondents of the Savills Lockdown Living Survey largely comprised of expatriates, many of whom prefer to rent properties.