Dubai Marina most popular area in UAE
The 2015 third quarter report by propertyfinder.ae reveals the most searched areas and rental brackets in Dubai and Abu Dhabi. UAE residents are mainly looking to rent properties for a yearly rent ranging from AED 50,000 to AED 100,000. Other findings include:
- In Dubai, one forth of residents search for properties within this range with 29% looking to rent within the same bracket in Abu Dhabi.
- The top three searched areas in Dubai for rent include Dubai Marina, Palm Jumeirah and Jumeirah Lakes Towers. The least searched areas include Discovery Gardens, Tecom and Al Barsha.
- In Abu Dhabi the top searched areas included Al Reem Island, Al Ghadeer, Al Khalidiya and Al Raha Beach.
In similar news, Standard and Poor’s Rating Services reported a 10 to 20 percent drop in Dubai residential property prices in the next year.
Almost half of UAE consumers want to buy a new smartphone every two years
Plug Ins survey shows how much consumers are willing to spend on electronics in the UAE. Based on survey results, there has been a drop in the average electronic spend. In 2014 consumers spend AED 4,793, but in 2015 consumers spend AED 4,000 on average. Other results showed:
- Out of the major electronic purchases, 69% comprised of smartphones
- 42% of consumers wish to buy a new smartphone every two years
- Almost half of the respondents are willing to spend between AED 2,001 and AED 3,000 on a new smartphone
- Wearable devices such as the Apple Watch is not as popular among consumers with only 16% owing one in the UAE
Miles program most popular among UAE banks
Souqalmal.com published the current trends in the UAE credit card market based on their database. The analysis looked at over 230 credit cards listed on the site and the findings included:
- 35% of conventional credit cards have a minimum salary requirement between AED 5,000 and AED 10,000
- 51% of credit cards in the UAE don’t charge an annual fee
- More than half of the conventional credit cards have a monthly interest rate above 2.99%
- Miles was the most popular reward scheme offered by banks with 46% of cards associated with a miles program
- Cashback was the second most popular reward scheme offered by banks
UAE a big player in mobile e-commerce
A recent article by Kippreport takes a look at the increasing growth of the UAE smartphone commerce industry. The article highlights the following key points:
- By 2018, UAE is predicted to have 4.3 million mobile devices
- 24% of online spends by Emirati shoppers is attributed to smartphone purchases
- Last year 57% of Emiratis used their smartphone to make online purchases
- Social media applications such as Twitter are also penetrating into the UAE market with businesses using it as a promotion platform
- According to Ampen, above 80% of its revenue comes from mobile phones