Hello,2016!!! We have been hearing for a while that Dubai rents will be going down soon,so what is it’s status this year?
The rental increase calculator ,an online guiding tool, launched by the Real Estate Regulatory Agency (RERA) on the Dubai Land Department (DLD) website gives us an idea about how much rent you should be paying, and on whether you will be due a rental increase when your lease is up. It is a great tool to avoid arbitrary rent hikes from landlords. It is usually updated annually and the new brackets for 2016 is already updated on the website. According to the new rental index, most suburbs have seen a slight decrease, but nothing significant.
To calculate the rental increase, just go to this link type in your Tenancy Contract Expiry Date, main area, property type, area, bedrooms and current annual rent. Click calculate rental increase and it gives you the percentage of increase for the current year.
As per the new decree
- a property leasing between 11 per cent and 20 per cent below average market rent is eligible for a five per cent increase.
- If it??s leasing between 21 per cent and 30 per cent below market rate, it will see a maximum increase of 10 per cent.
- Those leasing at 31 per cent to 40 per cent below average can be increased by a maximum of 15 per cent.
- Properties leasing at 40 per cent below average can be hiked a maximum of 20 per cent.