{"id":46029,"date":"2017-03-01T21:47:12","date_gmt":"2017-03-01T14:47:12","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=46029"},"modified":"2017-03-01T18:54:16","modified_gmt":"2017-03-01T11:54:16","slug":"uae-millennial-homeowners-lower-than-global-average","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-millennial-homeowners-lower-than-global-average\/","title":{"rendered":"UAE Millennial homeowners lower than global average"},"content":{"rendered":"


\nA quarter of people between 18 and 36 in the UAE own their own home – far lower than the global average but in line with national trends – a new survey has found.According to a report by HSBC that assessed the views of more than 9,000 people in nine countries, just 26 per cent of Millennials in the UAE own their own property.The survey, in which more than 1,000 respondents in the UAE were questioned, including Emiratis and expatriates, found that the proportion was the lowest of nine countries analysed by HSBC. China topped the list at 70 per cent of Millennials saying they were owner- occupiers, while 46 per cent of Mexican Millennials own their own homes and 41 per cent of French Millennials saying the same. At the other end of the list Australia had the second lowest proportion of Millennial homeowners at just 28 per cent and the UK came in at 31 per cent.However, unlike in most of the other countries surveyed, the proportion of UAE Millennials owning their own homes came in roughly in line with the proportion of homeowners in the general population, which is at 28 per cent. According to official statistics, 64.5 per cent of adults in the US own their own homes and in the UK the level stands at 63.5 per cent. “When you look at the fact that only 28 per cent of respondents in the UAE own their own homes obviously that is lower than other markets, but you have to remember that this is coming from a low base,” said Craig Plumb, head of research at JLL’s Dubai office. “The number of owners-occupiers has increased across the board over the last 15 years. Before then most foreigners were not allowed to buy property in the country.”Despite the introduction three years ago of limits on how much could be borrowed to buy a home, Millennials in the UAE showed the lowest level of concern about raising a deposit, with 45 per cent of those questioned reporting a lack of savings for a deposit as a barrier to home ownership. That’s compared with a global average of 69 per cent.Instead, 50 per cent of UAE Millennial homeowners said that their parents had helped them to buy a home – the highest proportion of all the countries surveyed.”There has been a lot of talk about the affordability of real estate in the UAE, but from this survey what we can see is that home buyers in the UAE are actually doing OK compared with those in other parts of the world,” said Kunal Malani, the head of customer value management, HSBC Middle East. lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…UAE Millennial homeowners lower than global average<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A quarter of people between 18 and 36 in the UAE own their own home...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-46029","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bYp","jetpack-related-posts":[{"id":92334,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-in-5-millennials-plan-to-own-multiple-homes-survey\/","url_meta":{"origin":46029,"position":0},"title":"2 in 5 millennials plan to own multiple homes: survey","date":"June 25, 2018","format":false,"excerpt":"\r According to a recent HSBC survey, 54 percent of respondents aged between 21 and 36 years old are residential property owners. Of this, 24 percent already have multiple homes. Bucking the stereotypes of millennials being paycheck spenders and short-term planners, an HSBC study has found that two in five\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29181,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-developers-need-to-keep-track-of-changing-lifestyles-to-prevent-towers-becoming-obsolete\/","url_meta":{"origin":46029,"position":1},"title":"UAE developers need to keep track of changing lifestyles to prevent towers becoming obsolete","date":"October 8, 2016","format":false,"excerpt":"\r The trend by developers to build ever-greater numbers of small studio units in apartment buildings is understandable, but a little depressing.First, the understandable part.Alongside the need to appeal to investors' appetite for maximum possible returns, there are a few differences in the local market which broaden studios' appeal here\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-so-many-chinese-millennials-can-afford-their-own-homes\/","url_meta":{"origin":46029,"position":2},"title":"Why so many Chinese millennials can afford their own homes","date":"April 11, 2017","format":false,"excerpt":"\r A survey has suggested that mainland China has the highest rate of home ownership among young people in several countries polled. The study by HSBC found that 70 per cent of \u201cmillennials\u201d surveyed on the mainland owned their own home. That compared with 35 per cent in the United\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-so-many-chinese-millennials-can-afford-houses\/","url_meta":{"origin":46029,"position":3},"title":"Why so many Chinese millennials can afford houses","date":"April 11, 2017","format":false,"excerpt":"\r A survey has suggested that mainland China has the highest rate of home ownership among young people in several countries polled.The study by HSBC found that 70 per cent of \"millennials\" surveyed on the mainland owned their own...\r \r Source : nzherald.co.nz\/Property\r Read more...Why so many Chinese millennials can\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51550,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-so-many-of-mainland-chinas-millennials-can-afford-houses\/","url_meta":{"origin":46029,"position":4},"title":"Why so many of mainland China's millennials can afford houses","date":"April 11, 2017","format":false,"excerpt":"\r A survey has suggested that mainland China has the highest rate of home ownership among young people in several countries polled.The study by HSBC found that 70 per cent of \"millennials\" surveyed on the mainland owned their own...\r \r Source : nzherald.co.nz\/Property\r Read more...Why so many of mainland China's\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39413,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/everything-you-know-about-millennial-renters-is-wrong\/","url_meta":{"origin":46029,"position":5},"title":"Everything you know about millennial renters is wrong","date":"January 2, 2017","format":false,"excerpt":"\r Well, at least most of it These millennials say, \u2018Happy New Year!\u2019 Anchiy\/Shutterstock Millennials, the generation loosely defined as born between 1980 and 2004, are at the prime of their lives. They are already the largest generation in many countries\u2019 work-forces. 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