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Posts Tagged ‘property in dubai’
Over a quarter of all workers in Abu Dhabi and Dubai look set to receive housing allowance increases in the coming year, according to a survey conducted by global human resources consultants, Mercer.
The company has just published the findings of its ‘Spot Survey on Housing Allowance Increase in UAE,’ with 147 organisations in the two emirates polled for their employee benefit intentions over the next 12 months.
According to the responses received, 24 per cent of companies in Abu Dhabi intend to raise the housing allowance for their employees this year, with 41 per cent of companies in Dubai reporting the same aim. Read more
Rents 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
Dubai 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
