A rent calculator update released by Dubai’s Real Estate Regulatory Authority (Rera) may result in rent increases for renters. With effect from March 1st, this adjustment attempts to more accurately reflect current market rates. Experts point out that while some tenants could pay more for renewals, the development of communities that provide better value for money might offset the increases. The update represents Rera’s attempts to uphold a just balance between landlord interests and tenant affordability, with the possibility of rent increases.
The update to Rera’s rent calculator has sparked discussion among experts regarding its implications on Dubai’s rental market. Many tenants may face significant increases in their next renewal. This may encourage more people to buy property in order to offset growing rental expenses. The update could also increase the demand for more affordable communities as tenants look into moving to neighbourhoods with better value propositions.
Despite potential challenges for tenants, the overall stability of Dubai’s residential property market remains positive. The updated rent calculator is consistent with Dubai’s overall economic growth and commitment to supporting long-term residency and investment. With a record amount of property transactions in 2023 and strong investor interest, Dubai’s property market remains thriving, placing itself as an attractive investment for both domestic and foreign investors.
