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Posts Tagged ‘1step property in dubai’

OLYMPUS DIGITAL CAMERARents across Dubai’s major master communities have risen by 8-20%

Rents across Dubai’s major master communities have risen by 8 to 20 per cent in the first rental index update of 2014 compared to the last rent index of 2013, Emirates 24|7 can reveal.

The index is updated by Real Estate Regulatory Agency (Rera), the regulatory arm of Dubai Land Department, every four months.

Lease rates for studios in International City, Dubai Investment Park and Discovery Gardens have gone up by 16 to 20 per cent in the new index compared to the final update of 2013.

Studio rents in International City now range between Dh30,000 to Dh35,000 per annum, while rents for studios in Dubai Investment Park, Dubai Silicon Oasis and Discovery Gardens are currently between Dh25,000 and Dh35,000 pa, Dh35,000 and Dh40,000 pa and Dh40,000 to Dh45,000 pa, respectively. Read more

Rising-RentDubai is a proud city these days having recently won the bid for Expo 2020.  We all enjoyed the celebrations and the kids the day off school!  But as the celebrations settle  many of us are now a bit concerned that with all the hype rents are going to rocket.  After all, it has been reported in the media that the event will create over 277,000 jobs so that’s a lot of people moving into our city.

However, if you are already ensconced and  happy in your home in Dubai you will be pleased to learn that your landlord won’t be turning up with a new rental contract doubling your rent.  In recent years the government has put in certain laws to protect the tenant from the ‘greedy landlord’  demanding ridiculous rents.  The law (Decree No 2 of 2011) states categorically that the landlord can only increase rents by a minimum of five per cent to a maximum of 20 per cent if the existing rent is below the average market rate stated in RERA’s geographic rent index. Read more

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