Proposed Changes in Dubai Rental Index
Author Gareth Davies - Award Winning Broker and Property Consultant
Having had 34 years of experience as a Property Consultant and Broker in Dubai and in The United Kingdom, in September I was privileged to be invited to attend a forum at Dubai Chambers to discuss changes being proposed to the Dubai Rental Index.
Recommendations were made by me and other invited members. It has now been announced that a Building Quality Star Rating will be proposed to the authorities for approval.
Proposed changes to Dubai Rental Index system will enable Rent Increases on the renewal of Tenancy Contracts depending on the Quality of Individual Buildings rather than the average rent and trends in communities.
Currently, a community such as Dubai Marina, for example, with multiple residential towers of different quality, are all included in a community average rent. The significant change being considered is that the amount landlords can increase rent by will be governed by an individual tower’s Building Star Rating and rental prices will be independent of the neighbourhood they are in.
The Building Quality rating system covers apartment buildings in Dubai. Building age, quality and facilities are taken into account. For example, in the new system, 4-star buildings, regardless of neighbourhood, will have more control over the timing and size of rent increases.
If you want to be kept updated about the New Dubai Rental Index for Rent Increases or to know your Building Star Rating then please send a WhatsApp or complete the Form.
Contact for Dubai Rental Index updates.
