Predicting rent increase in dubai in 2024: a comprehensive guide
- Chloé
- Apr 15, 2024
- 2 min read
In dubai's dynamic real estate market, estimating expected rent increases is crucial for both tenants and landlords. Learn how to utilize the dubai land department's tools to calculate potential rent hikes and gain transparency on projected rental costs.
Accessing the rental index service: To estimate rent increases in dubai, the dubai land department offers the rental index service. It can be accessed through four channels, including the dubai land department's website (ejari system), the dubai rest app, and the dubai now app.
How to calculate your expected rent increase in dubai:
access the dubai land department's website or mobile apps and select the rental index service.
enter details of your ejari contract, including expiry date, property type, area, number of rooms, and current annual rent.
instantly obtain necessary information on projected rent increases in your area.
Calculating rent increases: rental increase amounts are determined based on the current rent's comparison to market value:
no increase if rent is within 10% of market value.
maximum increase of 5% if rent is 11-20% below market value.
maximum increase of 10% if rent is 21-30% below market value.
maximum increase of 15% if rent is 31-40% below market value.
maximum increase of 20% if rent is more than 40% below market value.
Projected rent increases in 2024: real estate experts forecast significant rent hikes in dubai in 2024, with potential increases of up to 20%. Strong investor demand is driving these optimistic forecasts, suggesting that prices will continue to rise rapidly over the next 12 to 24 months.
By utilizing available tools and monitoring real estate market trends, tenants and landlords in dubai can effectively anticipate and plan for upcoming rent increases. this increased transparency promotes better financial management and informed decision-making in the city's dynamic real estate landscape.
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