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Hello,
You’re kindly invited to participate in my MBA final project survey (MBSW). There will be around 100 people to be asked in this survey. The subject is about Dubai’s property market and its related policy. It will take you approximately 10 mins to complete this questionnaire.
This survey is targeted at people who lived in Dubai for a period of at least 6 months. Please DO NOT participate in this survey if you don’t fall under this category. Also it is recommended that one household will just participate in this survey once.
Your participation is completely voluntary, and the outcome of my study will depend on your valuable opinions.
All the data in this survey will be kept strictly confidential and they will all be used for this academic report only. None of your personal identity or survey input will be disclosed. If you have queries about anything related to this project, please contact me by email at any time – [email protected].
Thank you for your time and support. Please start with the survey now by clicking on the Continue button below.
Edmond Wong
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| * Have you ever lived in Dubai for a period of more than 6 months? (no matter which year or whether you have left the city) |
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| * Have you purchased any residential property before (anywhere)? |
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| * Have you purchased a property in Dubai? |
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| * If yes, did you purchase it off plan (before the construction is completed)? |
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| * Did you ever consider purchasing a property in Dubai? |
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| * What was/is the main purpose of the property you purchased/ considered purchasing in Dubai? |
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| * Will you consider buying a property/ invest more in the property market in Dubai in the next six months? |
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| * Which of the following reasons best describe why you are not considering purchasing (more) property in Dubai in the next six months? (can choose more than one) |
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| B. Potential Property Policy |
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In the following sections, ten different and unique proposed real estate policies that could be implemented by the government in Dubai will be presented. There will be 2 questions under each of the proposed policies.
When answering the questions in this part, please be reminded to consider them independently.
If you have left Dubai now, please try to consider these policies as if you were still living in Dubai.
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| Policy 1: The government offers a Starter Loan Scheme with a low interest loan to residents who aspire to become property owners. The priority will be given to families of 2 or more, and will be restricted to first home buyers. There will be limit on household income for such loan too, with priority given to low/middle income family.
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| Policy 2: The government will increase mortgage loan ratio, i.e. from currently around 75% to a maximum 90/95% through a mortgage insurance scheme. Borrowers will just need to pay for an additional insurance premium to enjoy the additional loan for property purchase, and this will protect both the lenders and borrowers.
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| Policy 3: The government will control and limit the land supply within the city. No land will be given or sold to any developers within a period of one year, and the future land supply will be governed based on the property market conditions.
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| Policy 4: The government will stop the construction of any affordable housing, nor provide any subsidy to the market for any low to middle income housing projects. This will then imply a reduction in the supply of such housing in the market.
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| Policy 5: The government will relax the restrictions under the tenancy law governing tenancy issues. Landlords will be able to regain possession more easily after expiry of lease. This will enhance the free market mechanism, and balance the interests of both landlord and tenant. Consequently, there would be more choices of rental units in the market.
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| Policy 6: The government will remove all anti-speculation measures in respect of sale quotas directly given within property developers for new properties and any limitation regarding number of units for sale to individual buyers.
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| Policy 7: The government will introduce a mortgage insurance programme to help home owners with negative equity (i.e., those whose outstanding mortgage loan from banks exceeded the current market value of their properties). The government will provide mortgage refinancing which will help reduce the financial burden of those homeowners, and also lessen the risk of default at the banks.
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| Policy 8: The government will have more stringent requirements on pre-sale properties. The developer will be given the approval from authorities to sell uncompleted flats only if they fulfil requirements such as a) having a serious intention to develop, b) having proper financial standing, c) providing detailed conditions in sale and purchase agreement, d) providing comprehensive information in sales brochure, e) being represented by a registered solicitor, f) being able to show status of construction, g) indication of the developer’s minimum own investment in the project, h) providing time to completion, etc.
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| Policy 9: For any land given or sold to developers, there will be a specific agreement added to the land lease that within the stipulated time, the construction of the specific development need to be completed or otherwise the government will have a right to re-enter and take it back.
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| Policy 10: Purchase of properties will grant you a residency visa of 3 years or more, and it will give you more benefits and privileges from the government as a resident.
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| * In comparison with the housing policy in your home country, please choose ONE of the following statements: (This is just a general comparison, not restricted to any specific aspect. It could be related to balance of interests between parties, robustness of system, reaction to external environment, long term strategy, etc.) |
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| Other than the above proposed policy, do you have anything in your mind which could possibly encourage you to purchase a property in Dubai? | | |
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| * What’s your current age? |
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| * What’s your family status? |
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| Which country do you come from? |
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| What’s your annual household income? |
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| * Which of the statements below best describe your scenario? |
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| * Which of the following best describes the industry you are working in: |
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| Please enter your Name and email address for data verification.
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