No matter one’s social status, the costs associated with housing are often exceptionally high. As the cost of living continues to rise – with rent arguably accounting for the biggest expense – many are finding it difficult to make ends meet, let alone save.
Given the situation, many believe there should be regulations in place that will check the housing market fluctuations that can be extreme sometimes.
They argue that these regulations can help them manage their rent budgets, and prevent landlords from gaining full control of the situation and do as they please with the prices. To get a better understanding of how rents are affecting lives, we asked 4,993 TaskSpotting users whether they are able to cope with the situation.
TaskSpotting describes itself as the region’s only advocate marketing platform and pitches our questions to its app community who typically engage with brands and relevant issues to create content, spread awareness and share feedback.
The survey found that the majority were concerned about rising rents and most respondents felt that rents are too high. Meanwhile, in a surprise move, Abu Dhabi reintroduced its five per cent rent cap on Tuesday.
