As some middle-income expatriates have reportedly left the country or are planning to send their families back home, flats occupied by them - or targeted at such residents - are expected to lie vacant in the coming days, say real estate industry insiders.
To cope with the emerging situation, realty agents and property owners may be compelled to consider offering such vacant flats to single expatriates, according to a real estate professional whose firm has mostly catered to families until now.
He said many of his long-time customers were vacating their family accommodation and asking for smaller residential units instead at lower rents. "This is owing to job uncertainties," he added.
Some expatriates with job-related concerns are also reportedly waiting for the current academic year to end before they can send their children back to their native countries.
It is found that the owners of some buildings in the city, where it was difficult for single expatriates to hire apartments until recently, are now willing to have them as tenants in view of the emerging situation.
"While such landlords or their representatives would not respond to any queries from bachelors earlier, they are now showing interest in giving their properties to such groups of expatriates on rent," said an official of a real estate firm.
Sources told Gulf Times that some of the flats vacated by single expatriates in the wake of rightsizing by companies were still lying vacant as the owners were unable to get new tenants.
Meanwhile, expatriates are hopeful that the trend may lead to a drop in rents. "We really hope that the rents come down," said one of them.
